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MONDAY, NOVEMBER 23, 2009
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 OPINION 
10

Obama Attacks Tax Havens to Save Health Care: Reich

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(Newser) – Offshore tax havens may not be fair, but they’ve been around for decades. So why is President Obama taking them on now, Clinton Labor Secretary Robert Reich asks in Salon. It’s not to try to keep jobs here, as the White House claims; the move might even drive jobs away. It’s far more likely this is a sly strategic move in the universal health-care fight.

Obama will need a lot of corporate muscle on his side to push through health-care cost reform. Many companies want to help, but fear angering major providers. Obama can use the offshore tax havens as a bargaining chip, leaving them alone in exchange for cooperation. Alternatively, he can go ahead with his plan, and use newfound revenues—an estimated $295 billion—to pay for care.

Robert Reich, Labor Secretary during the Clinton administration, gives his commencement speech during graduation ceremonies at California State University-Fullerton in this file photo.
Robert Reich, Labor Secretary during the Clinton administration, gives his commencement speech during graduation ceremonies at California State University-Fullerton in this file photo.   (AP Photo)
President Barack Obama speaks about tax reform at the White House yesterday.
President Barack Obama speaks about tax reform at the White House yesterday.   (AP Photo)
President Barack Obama makes a unexpected visit to the White House pressroom Friday.
President Barack Obama makes a unexpected visit to the White House pressroom Friday.   (AP Photo)
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The president needs as many bargaining chips with the rest of corporate America as possible. The proposed crackdown on foreign tax avoidance is one such chip. - Robert Reich

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10 comments
VIEWING:
 
freethemall
May 5, 09 4:28 PM CDT
I fail to see why we can't be rid of these unfair tax havens, AND enact health-care reform. Reply
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+3
lo9an
May 5, 09 4:32 PM CDT
Good! We should make these people pay taxes. Of course, I am sure they will claim that the world will end and unemployment will rise. Isn't that always the argument! FEAR IS DEAD folks. Energy and Health Care are hug priorities. Next up, marijuana reform. Reply
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+3
paul123
May 5, 09 6:29 PM CDT
If it's legal, then leave them alone. Class envy seems to be all the rage these days. Reply
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-4
IN RESPONSE:
PosterNutbag
May 5, 09 9:13 PM CDT
Time for the daily intellectual-rehabilitation therapy exercise for our friend paul123. What has people enraged, paul, is the fact that practices which were once ILLEGAL, NEVER ETHICAL, and NEVER MORAL, were at some point DECLARED LEGAL, by a politician who was effectively OWNED by the Super Rich. In this case, the fraud became legal under Bill Clinton, and now Obama is trying to close the loopholes.
Vote up! Vote down!
+3
IN RESPONSE:
Corona_Kinq
May 6, 09 8:38 AM CDT
"We fixed the glitch." --Office Space.
Vote up! Vote down!
+1

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