from CommonDreams Website
"The Panama Papers," writes Perkins,
"are a warning: we can't turn a blind eye on legalized crimes."
(Photo: The Weekly Bull/flickr/cc)
As an Economic Hit Man (an EHM), I helped forge this global economy that is based on legalized crimes. It's a system in which 62 individuals have as much wealth as half the world's population, and a handful of the super-rich control governments around the globe.
Big corporations benefit from infrastructure and social services without having to foot the bill.
Instead, average U.S. citizens pay for
it with their hard-earned tax dollars, while the very rich and their
corporations shelter their incomes in tax havens like Panama.
are one more indictment
of a failed system."
J.P. Morgan and Company became the new country's official fiscal agent.
Soon Panama passed laws allowing
John D. Rockefeller's Standard
Oil Company to register its ships there, avoiding U.S. taxes and
regulations - and Panamanian tax shelters were born.
Torrijos would not yield on the canal. But he did let his country become a tax haven for international corporations.
He told me,
Torrijos died in 1981 in a 'plane crash' many believe was orchestrated by the CIA.
Since then, Panamanian administrations have remained a puppet of U.S. business interests, and the country is a tax shelter for the super rich. Over the past 12 years, the system that helped create it has spread from developing countries to the United States, Europe, and the rest of the world.
The result: a failed global economy:
It is an economic system based on,
...consuming itself into extinction.
When billionaires are able to get laws passed such as the US-Panama Trade Promotion Agreement of 2012 and NAFTA, giving their corporations more power than sovereign nations, it's time for change.
We must create an economy dedicated to cleaning up pollution, developing new technologies that recycle and spare the earth, and creating systems that alleviate desperation, poverty, hunger, and the causes of violence and terrorism.
This system must include fair taxation:
those who benefit from the infrastructure must help pay for it.
In a state with under 0.2% of U.S. population, a small group of activists and bloggers successfully pressured some of the biggest food producers in the country,
...to change their policies and commit to national GMO labeling.
David can defeat Goliath...
Let us not be distracted.
Let us instead focus on the super rich - those who finance the
political campaigns that support their interests, promise lucrative
consulting jobs when politicians lose or leave office, and hide
their fortunes in tax havens like Panama.
Let the people of Vermont encourage all
of us to take action.