Bernie Backwards on Panama

Image via Wiki Commons

Bernie Sanders and crew are making the outrageous claim that Hillary Clinton is to blame for the corporate abuses being uncovered via the Panama Papers.

In reality, the 2010 agreement she supported as Secretary of State and he railed against in the Senate actually added transparency and reporting requirements. Its passage is the primary reason such a small fraction of the leak data implicates American companies. The country became hostile to clandestine US finance.

But Sanders wants to blame Clinton for accounts established in Panama decades ago. Had Sanders gotten his way, the list of US individuals under new investigation this week would be much longer.

International trade has lifted a billion people out of poverty in the past two decades. Protest votes against trade bills as a matter of principle are no better than protest votes against military action for the same reason.

This follows his insistent mis-characterization of her stance on Iraq and his recent statement that Hillary is “unqualified.” This is in sharp contrast to the views of the current sitting President:

“I’ve gotten to know Hillary Clinton really well, and she is a good, smart, tough person who cares deeply about this country,” Obama said. The President also described Clinton as “really idealistic and progressive,” evidently addressing the perception among some Democrats that she is too moderate, and noted that Clinton’s experience and her mastery of policy issues would be a big help to her in the Oval Office. “It means that she can govern, and she can start here, day one, more experienced than any non-vice-president has ever been who aspires to this office.”

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Jay is Editor In Chief of The Agonist, veteran and technologist.

4 CommentsLeave a comment

  • So I commented on this and it seems to have been caught in the world of skynet.

    This was an attempt at satire right?

    3 and 4 sentences might some sense to us that would like the new normal of Amerika to stop. I’ll be voting bernie in Callie prim but moving on to real change Green in show time.

  • A different perspective from commenter Ruthmarie Garcia Hicks

    This is an editorial from the Washington Post? HEAVEN HELP US…If you actually READ the editorial and CLICK the link you find that entire argument here is made of straw.

    I will refer to the only solid figure stated in the editorial: “Specifically, the number of offshore incorporations fell from 4,741 in 2005 to 835 in 2015.”

    This is all they base this attack on Sanders being wrong on? Seriously?

    First of all, its far from astounding that then number of incorporations went way down during record periods of corporate consolidation. However, this one “fact” says nothing about the total AMOUNT of money in these tax havens, which is far more relevant for the health of the world economy.

    To be relevant, the editorial has to assume that the number of incorporations is proportional to the amount of money being off-shored. Assuming that the current estimate of $21 trillion is correct and that only 835 incorporations are involved, then the 4751 incorporations existing in 2005 would have resulted in nearly $120 TRILLION being sheltered. Just to put this in proportion, the entire WDP (world domestic product) of 2014 was estimated as slightly north of $107 Trillion.

    This is but one tax haven. The sheer magnitude of this has massive implications for wealth distribution world wide. That’s an obvious given. Which circles us straight back to Bernie Sanders being entirely correct that income inequality is the issue of our time.

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