Kerry has promised to lead an 'international coalition' against tax havens, claiming that $5 trillion of US assets have been moved offshore, beyond the legitimate reach of America's tax authorities. He says he will 'provide middle-class payroll tax relief to get money in the pockets of workers who will spend it, not more tax giveaways for those at the top to stimulate the economy in the Cayman Islands and Bermuda'.
The Senator's interest in banking secrecy and tax havens goes back a long way. In Washington, he is better known as a 'prosecutor' than a legislator, having personally authored fewer than a dozen bills since his election in 1984.
Incredible. Yes, the Senator's interest in bank secrecy and tax havens (and the Cayman Islands) does go back a long way, doesn't it?