M E M O R A N D U M
To: Reporters and editors
Re: Nominee with offshore accounts
Da: Tuesday, June 4, 2013
Sen. Chuck Grassley of Iowa today made the following comment on the news that the President’s nominee for United States Trade Representative is the third nominee in recent months to have offshore accounts or income.
“President Obama called the Ugland House ‘the biggest tax scam in the world.’ Yet he nominated two top advisers in a row who invested in the Ugland House. He also nominated a Commerce secretary with significant offshore income. When he was first elected, the President said tax avoidance through international tax havens forced ordinary Americans to ‘pick up the slack.’ He railed against fat cats who avoid taxes offshore. President Obama’s hypocrisy is piling up with his picks for top posts in his Administration. If the latest nominations go through, he’ll have two members of his Cabinet and one adviser with Cabinet-rank status who used the offshore practices he said forced ordinary Americans ‘to pick up the slack.’ ”
Here’s one source of the President’s quote on picking up the slack: