During the GOP primary, Mitt Romney has come under fierce attack for parking millions of dollars of his personal wealth in investment funds set up in the Cayman Islands, a notorious Caribbean tax haven. We speak with Tax Justice Network USA Chair Jack Blum, a former top Congressional investigator of financial crimes, who says tax evasion could seriously cripple the already struggling economy. Blum appears in "We’re Not Broke," a documentary that premiered at the Sundance Film Festival. The film examines widespread corporate tax evasion in the United States and the increasing role of offshore tax havens. "Has [Romney] cheated? No," Blum says. "But what he has done is take full advantage of the system that has been structured the way it is because of political influence and tremendous amount of lobbying money on Capitol Hill. … We must not only rewrite the internal revenue code, but we must get a fair contribution from the very wealthy and from corporations — that is the only way to balance the budget." [Rush transcript to come. Check back soon.]moreless
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