Marjorie Rawls Roberts is tax lawyer located in St Thomas in the US Virgin Islands who owns her own firm that specializes in offshore investments and how to avoid paying US taxes on those investments. Prior to owning her own firm, Roberts worked for a different St Thomas firm that managed nearly $1 billion of investments that were primarily located in Russia, Central and South America. According to reports, some of the individuals Roberts work with are somewhat questionable in their legal dealings.
In 2009, President Barack Obama delivered a speech at the White House condemning the practice of using overseas investment tax loopholes to avoid paying US taxes. He referred to the US tax code as being,
“…full of corporate loopholes that make it perfectly legal for companies to avoid paying their fair share.
It’s a tax code that makes it all too easy for a number—a small number of individuals and companies to abuse overseas tax havens to avoid paying any taxes at all.”
Now, for years, we’ve talked about stopping Americans from illegally hiding their money overseas, and getting tough with the financial institutions that let them get away with it. The Treasury Department and the IRS, under Sec. Geithner’s leadership and Commissioner Shulman’s, are already taking far-reaching steps to catch overseas tax cheats—but they need more support.”
The same day that Obama gave that speech in 2009, the White House issued a press release stating that the president and Secretary Geithner were working on reforms to the international tax laws in order to make it harder for US citizens to hide their investments overseas and avoid paying US taxes.
In light of what the president said, I wonder if he would be willing to accept campaign donations from someone like Marjorie Rawls Roberts who makes her living doing what the president condemned? It seems that Roberts is bundling a minimum of $100,000 to $200,000 in donations for the Obama Victory fund 2012.
So I guess the question is whether or not Obama will stick to his principles and refuse Roberts’ contributions or will he lay those principles aside and take the money?