Dear President Biden,
You have pledged to fight to rid our nation of systemic racism. I think you mean that. But it seems that many in your administration don’t. Or maybe they just underestimate your determination.
If you announced your plan Last week, to rebuild our country’s infrastructure, you showed how you can pay for much of the cost through corporate tax increases. You haven’t gone into the complexities, but you did take the time to research the Cayman Islands and Bermuda to blame for our corporate tax errors. To the Reasons i understand too good, you’ve identified the wrong culprits.
In your presentation, you stated that companies in the Caymans and Bermuda had hidden profits. That may be true in a sense. But it also encapsulated that Racism and xenophobia You promised to remove yourself from our political discourse.
The tax experts you surround yourself with know that Switzerland is at the top of the list of tax havens. The same goes for your beloved Ireland. in the her testimonyKim Clausing, your Assistant Assistant Secretary for Tax Analysis, carefully noted that you don’t have to look beyond Europe to find four of the “big seven” corporate tax havens (Ireland, Luxembourg, the Netherlands and Switzerland). But your advisors also know whenever a new black list of tax havens being brought up, these rich white countries somehow escape inclusion.
After reading this far, you probably understand your mistake. Her predecessor routinely exploited racism, both pointedly and casually, for political gain. And now you know you have too. While I suspect you would like to take responsibility for this, I am not blaming you.
I blame your extraordinary team of tax specialists. When Paul Krugman joked Since there weren’t any tax experts who hadn’t yet joined your administration, I immediately thought of someone they hadn’t even had a conversation with until a few days ago.