The Panama Papers is the biggest ‘leak’ yet, unless you count the hissing sound coming from Obama and company about how this gives us a reason to reform ‘tax loopholes’ that allow companies to keep money away from them.
First, there is no such things as a tax loophole. The law was written that way, with more finality and legality than ‘The Secretary Shall.’ They all know it, and they all love it, so cut the crap.
Second, there is little if any evidence that any American companies are even called out in the Panama Papers. There will be politicians, celebrities, and probably more tyrants and despots than you can shake a stick at (sorry, I said politicians and celebrities already). But being in the Panama Papers dump does not make that illegal or unethical. People who have been successful by following the law have an incentive to keep more of what they earn just like the rest of us. The key here will be when the Panama Papers beg questions about how some of these luminaries and world leaders amassed the fortunes revealed.
Finally, if there are any folks in the Granite State (by that I mean Democrats, mostly) looking to cling to Obama’s lead and make calls for “tax reforms,” because of the Panama Papers–or maybe just because you are greedy-arrogant-tax-aholic-douch-bags just looking for any excuse to plunder your fellow citizens–before you do, make sure you’ve never publicly advocated for any policy to encourage growth in New Hampshire as a result of a more-favorable tax climate. You know, something like “Hey, you should move here, we won’t screw you like they do!” Or, “This budget will lower taxes for small business owners while encouraging growth blah-blah-blah.” That would make you guilty of ‘off-shoring’ other states wealth for purposes of tax avoidance.
(In this context, commuter rail is most definitely an off-shoring scheme to rob Massachusetts of wealth to which it believes it is entitled.)
Finally, (finally), if Obama & Dem Inc., really want to keep more fiscal resources in the country, the only “loophole” they need to address is the one where every other nation has a more favorable corporate tax rate. Fix that. Money will come back, get invested, and create plenty of taxable wealth. Works every time it’s tried. The fact that you never do it just reinforces what a bunch of pragmatic-socialist morons you all are.
