Treasury Secretary candidate Jack Lew’s offshore account

Hypocrisy Gauge

After months of attacking Mitt Romney for investing in a blind trust that had international holdings, Obama nominates for Treasury Secretary (!) a man who had an offshore account in the Cayman Islands.

In a statement Friday, Sen. Chuck Grassley (R-Iowa) blasted the White House, saying “the irony is thick” after President Obama has voiced criticism over the use of offshore accounts to avoid taxes.

“President Obama has been almost obsessively critical of offshore investments,” Grassley said. “He called Ugland House ‘either the biggest building or the biggest tax scam on record.’ ”

The Ugland House is a building in the Cayman Islands that serves as the legal address for thousands of corporations seeking favorable tax breaks. In a 2009 speech, Obama called the use of the adders “the kind of tax scam that we need to end.”
“For years, we’ve talked about shutting down overseas tax havens that let companies set up operations to avoid paying taxes in America,” Obama said.

Same old, same old. Anything Obama says is for immediate use only and expires immediately thereafter. All that crap about Romney? Political bullshit spoon fed to a public with a 48 hour memory limit.

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