In a recent article, Bloomberg News pointed out President Barack Obama’s hypocrisy on calling out major corporations for being “economically unpatriotic” for using offshore mergers to change their home base and reduce tax rates to those of foreign countries hungry for investment that have lower rates.
But according to Bloomberg, some of Obama biggest donors use the tax-inversion loophole.
“Executives, advisers and directors involved in some of the tax-cutting transactions include Blair Effron, an investment banker who hosted Obama for a May fundraiser at his two-level, 9,000-square-foot apartment on Manhattan’s Upper East Side,” according to the report.
Others are Jim Rogers, co-chairman of the host committee for the 2012 Democratic National Convention; Roger Altman, a former senior Treasury Department official who raised at least $200,000 for Obama’s re-election campaign; and Shantanu Narayen, who sits on the president’s management advisory board.”
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