Obama-backed tax evasion bill attacked

A Bill supported by Senator Barack Obama (pictured), designed to prevent tax evasion and target offshore secrecy jurisdictions, has been slammed as 'anti-competitive' and 'draconian'. Senator Carl Levin introduced the 'Stop Tax Haven Abuse Act' Bill, supported by Obama, on 17 February 2007. In August the Obama camp released a campaign video accusing Republican presidential contender John McCain of promising to defend tax breaks for insurance companies which locate to Bermuda. McCain told Bermuda paper, the Royal Gazette: "The industry, the reinsurance that's had such phenomenal success ...