Obama also planned to ask Congress to crack down on tax havens and implement a major shift in the way courts view guilt. Under Obama's proposal, Americans would have to prove they were not breaking US tax laws by sending money to banks that don't cooperate with tax officials. It essentially would reverse the long-held assumption of innocence in US courts.

Let's quote that again shall we, just to make sure that you didn't miss it. Obama plans to "reverse the long-held assumption of innocence in US courts."

I posted previously on the appalling precedent of retrospective legislation being used to target AIG bonuses, and here's another case of a terrible precedent that is very likely to come back and bite the American people in the rear end. I said it then in somewhat different words, and I'll say it again: when you're one step away from tyranny, what is the next step?
[Update] Associated Press, ever eager to shill for Obama, spins the story thus
Congress leery about Obama's plan on tax loopholes
The story also manages to conveniently leave out the details described above. Well done AP! After all, it's not like we want people to know that the president who claims (or not*) to have been a constitutional law professor is either so ignorant of the fundamentals of western democracy that he'd suggest something this bad, or (even worse) is fully aware of the implications and wants to do it anyway.

*Barack Obama: “I was a constitutional law professor.”
The ABC: “[Obama] taught constitutional law at the University of Chicago.”
Obama press secretary Robert Gibbs: “You’re incorrect that he taught on constitutional law.”
From Tim Blair

[Further Update] This story concerning Obama's handling of Chrysler certainly seems to match what I've been saying. He doesn't care what kind of awful precedents he is creating, nor care which fundamentals of western democracy he tramples, because "anything goes" as long as it furthers his agenda.
The sources, who represent creditors to Chrysler, say they were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person described the administration as the most shocking "end justifies the means" group they have ever encountered... One participant in negotiations said that the administration's tactic was to present what one described as a "madman theory of the presidency" in which the President is someone to be feared because he was willing to do anything to get his way. Via Hot Air