The Brian Lehrer Show

Newsmakers meet New Yorkers as host Brian Lehrer and his guests take on the issues dominating conversation in New York and around the world. This daily program from WNYC Studios cuts through the usual talk radio punditry and brings a smart, humane approach to the day's events and what matters most in local and national politics, our own communities and our lives. WNYC Studios is a listener-supported producer of other leading podcasts including Radiolab, On the Media, Snap Judgment, Death, Sex & Money, Nancy, Here’s the Thing with Alec Baldwin and many others. © WNYC Studios

https://www.wnyc.org/shows/bl

subscribe
share





Panama Papers Highlight Secretive Banking on US Soil


Matthew Gardner, Executive Director of The Institute on Taxation and Economic Policy, an arm of Citizens for Tax Justice (a public interest research and advocacy organization focusing on tax policies and their impact), discusses his op-ed for CNN, which points out that despite the public and media attention the Panama Papers have garnered, the actions described in these documents are employed, possibly on a larger level, here in the U.S.

Garner said the same untraceable shell corporations that are being used to shelter assets in off shore tax havens, as identified in the Panama Papers, are being used for the same purposes in the U.S. because of lax laws in Delaware, Nevada and a few other states.

Garner also discussed the Obama administration's latest attempt to strengthen some of these lax laws with the announcement on Tuesday that the Treasury Department is seeking to make it more difficult to accomplish what is known as corporate inversions, in which U.S. companies combine with foreign firms to reduce U.S. taxes. 

The Treasury Department’s new rule nixed a merger between U.S.-based drugmaker Pfizer Inc. and rival Allergan and the company’s plans to move to Ireland to lower its tax bill.


share







 2016-04-06  17m