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A look at offshore accounts used to hide wealth, avoid taxes

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  • #31
    Originally posted by Persephone View Post
    Interesting...indeed. There's only 1 American on the list, Marianna Olszewski, an author and financier. Makes me wonder why this is in the North America forum.
    It was also released by an American group about global figures.

    Comment


    • #32
      Seems the "Where are the Americans" might just be a matter of 'Taste'.

      http://www.politico.com/agenda/story...ericans-000083

      How have Americans so far escaped the biggest leak of financial data of all time? It’s not because wealthy Americans don’t use offshore bank accounts to avoid U.S. taxes: they do—to the tune of $1.2 trillion in 2014, according to one estimate. Some professors have suggested that Americans may have disguised their accounts at Mossack Fonseca behind another party. But there’s also a more structural answer, tax experts say—one that has to do with shifts in global financial policy—and, to an extent, taste.
      At the same time, countries such as Bermuda, the British Virgin Islands (BVI) and the Cayman Islands all have changed their laws to court investment, giving them significant advantages over Panama. Those three countries operate under a derivative of English common law, which gives American lawyers a sense of familiarity and confidence in their legal systems. Further strengthening that trust, Panama is a Spanish-speaking country, while Bermuda, BVI and the Cayman Islands all use English. Wealthy Americans are also more confident in the political systems of the three countries as opposed to Panama, which many see as more unstable. Other countries have also become more appealing spots to hide money by combining strong bank secrecy laws with a stable legal and political system.
      Oh, and the super wealthy can get some of the same benefits without even leaving the country. Seems the US is 'shell company' friendly also.

      One place Americans can hide assets, though? The United States. Experts point out that it's stable, it's safe, and the laws make it fairly easy to structure your holdings – legally – to keep taxes low.
      “Not too surprised,” Zucman wrote in an email about the lack of Americans in the Panama Papers. “Part of the reason is that it’s unfortunately way too easy to create anonymous shell companies in a number of US States like Delaware and Nevada, so no need to go to Panama.” In fact, multiple international organizations rated the U.S. as one of the world’s biggest tax havens last year.
      “The time has come,” the Walrus said,
      “To talk of many things:
      Of shoes—and ships—and sealing-wax—
      Of cabbages—and kings—
      And why the sea is boiling hot—
      And whether pigs have wings.”
      ― Lewis Carroll

      Comment


      • #33
        Originally posted by Bwaha View Post
        There's probably millions going into the hush fund is the reason that I think almost none have gotten the sting here.

        As to your second point, well the N/A forum has turned into the PC center.

        (I posted it first in the S/A forum...)

        The list with Americans will only be released if Trump is one of them .

        Meanwhile one is busy with eradicating the names of the Hillary gang .

        And this will take a lot of time .

        Comment


        • #34
          From the link in my earlier post.

          When asked about the lack of Americans in the original release, the German newspaper’s editor responded mysteriously: “Just wait for what is coming next.”
          “The time has come,” the Walrus said,
          “To talk of many things:
          Of shoes—and ships—and sealing-wax—
          Of cabbages—and kings—
          And why the sea is boiling hot—
          And whether pigs have wings.”
          ― Lewis Carroll

          Comment


          • #35
            Originally posted by Persephone View Post
            Makes me wonder why this is in the North America forum.
            Well we don't have a global one but in any-case there is a fair bit about offshore companies being used to evade sanctions imposed by the USA
            Human history becomes more and more a race between education and catastrophe (H G Wells)
            Mit der Dummheit kaempfen Goetter selbst vergebens (Friedrich von Schiller)

            Comment


            • #36
              Originally posted by ljadw View Post
              Marxist jealousy
              It is Marxists that are doing this, Putin's share of this is 21 Billion .... dollars!

              As i have said before; Socialism is nothing but beating people down towards the same level of poverty and misery. Taxes are used to punish success and confiscate wealth... and that wealth is never distributed very effectively.
              And now you know why.
              The Party Bosses steal it.
              And now nobody can't deny it.

              Well... honest people can't, but we'll see.



              Originally posted by MarkV View Post
              Well we don't have a global one but in any-case there is a fair bit about offshore companies being used to evade sanctions imposed by the USA
              Actually, that is a last-second deflection.
              Obama is trying to cover for his best-buddy pals by trying to make it look like it is about Corporations, just watch.
              ALL of the Panama Papers is about all the Socialist Dictators on the planet and how hideously corrupt WORLD LEADERS are.

              The US has the highest Corporate taxes on Earth, and it drives businesses out of the country. At what point in human history had this not been the case?

              Comment


              • #37
                Originally posted by The Exorcist View Post
                I

                Actually, that is a last-second deflection.
                Obama is trying to cover for his best-buddy pals by trying to make it look like it is about Corporations, just watch.
                :
                What a load of dingos kidneys

                The release of information about sanction busting has nothing to do with Obama whose administration is probably embarrassed that it was happening under their noses and NK usuing their own offshore bank to finance their nuclear programme doesn't sound like a red herring to make it look like corporations.
                Human history becomes more and more a race between education and catastrophe (H G Wells)
                Mit der Dummheit kaempfen Goetter selbst vergebens (Friedrich von Schiller)

                Comment


                • #38
                  Originally posted by MarkV View Post
                  What a load of dingos kidneys

                  The release of information about sanction busting has nothing to do with Obama whose administration is probably embarrassed that it was happening under their noses and NK usuing their own offshore bank to finance their nuclear programme doesn't sound like a red herring to make it look like corporations.
                  No?
                  Just watch and wait, see how the story is spun and then buried in the next few days.

                  This report is tremendous, and in a sane world it would result in criminal charges against a great many people. They have been robbing their own countries, but what will be hear next?

                  "Meh, no big deal"
                  "Other guys are worse"
                  "That's just how it goes"
                  "What can you do?"

                  And that last one is the real question. Are we really just Sheeple, letting this tiny gang of scumbags rape, rob and imprison us?
                  I suppose most people will just shrug and let it go.
                  That's how this all started, after all.

                  Comment


                  • #39
                    Originally posted by The Exorcist View Post
                    No?
                    Just watch and wait, see how the story is spun and then buried in the next few days.

                    This report is tremendous, and in a sane world it would result in criminal charges against a great many people. They have been robbing their own countries, but what will be hear next?

                    "Meh, no big deal"
                    "Other guys are worse"
                    "That's just how it goes"
                    "What can you do?"

                    And that last one is the real question. Are we really just Sheeple, letting this tiny gang of scumbags rape, rob and imprison us?
                    I suppose most people will just shrug and let it go.
                    That's how this all started, after all.
                    That's the response in Russia for sure (hey, it's a western group, which mean they're automatically Nazi-sympathizing Russophobes).

                    But Iceland already lost a PM. Pretty quickly, too.

                    We'll see how it plays out elsewhere. The big issue will be whether or not the people in question are public or private citizens.

                    Comment


                    • #40
                      From the Firm founder.

                      http://latino.foxnews.com/latino/new...ike-taking-us/

                      Ramon Fonseca, who started the firm with Jurgen Mossack, told The Associated Press in an interview Thursday that their law firm has only a handful of American clients, most of them members of Panama's burgeoning expat retirement community. It's not out of any anti-Americanism or fear of the Internal Revenue Service.

                      "My partner is German, and I lived in Europe, and our focus has always been the European and Latin American market," Fonseca said at his law office.

                      "He loves the U.S. a lot, and I do, too. My kids were educated there," Fonseca added. But "as a policy we prefer not to have American clients."
                      “The time has come,” the Walrus said,
                      “To talk of many things:
                      Of shoes—and ships—and sealing-wax—
                      Of cabbages—and kings—
                      And why the sea is boiling hot—
                      And whether pigs have wings.”
                      ― Lewis Carroll

                      Comment


                      • #41
                        Originally posted by T. A. Gardner View Post
                        The rich, like everyone else, avoids paying any taxes at any rate if they can. Raising the rate on them only encourages them to make a greater effort to avoid being taxed. The poor and middle class have fewer options so they can't as easily avoid taxation as the rich can.

                        That's why short of robbing the rich at gunpoint, so-to-speak, it's a waste of time thinking you can soak them for the money to pay for a social-welfare state. They will simply take their money elsewhere and the state ends up with nothing.
                        Thank you! The Lefties can never see this basic fact. Lefties expect the "rich" to sit still for all the "skinnin'" the Lefties try to do. Ha! They didn't become rich by accident, ya know?

                        GG
                        "The will of a section rooted in self interest, should not outweigh the vital interests of a whole people." -Joshua Lawrence Chamberlain-

                        "Fanatics of any sort are dangerous." -GG-

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                        • #42
                          The interesting part isn't the industrialists trying to avoid paying taxes; what's interesting are the politicians who shouldn't have had that much money in the first place.

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                          • #43
                            Originally posted by johns624 View Post
                            The interesting part isn't the industrialists trying to avoid paying taxes; what's interesting are the politicians who shouldn't have had that much money in the first place.
                            Another person that gets it. Bravo!
                            “The time has come,” the Walrus said,
                            “To talk of many things:
                            Of shoes—and ships—and sealing-wax—
                            Of cabbages—and kings—
                            And why the sea is boiling hot—
                            And whether pigs have wings.”
                            ― Lewis Carroll

                            Comment


                            • #44
                              Originally posted by Grognard Gunny View Post
                              Thank you! The Lefties can never see this basic fact. Lefties expect the "rich" to sit still for all the "skinnin'" the Lefties try to do. Ha! They didn't become rich by accident, ya know?

                              GG
                              You're missing the point. Take off the partisan blinders and LOOK.

                              Pssst... look at the post right below the one of yours I quoted.....
                              “The time has come,” the Walrus said,
                              “To talk of many things:
                              Of shoes—and ships—and sealing-wax—
                              Of cabbages—and kings—
                              And why the sea is boiling hot—
                              And whether pigs have wings.”
                              ― Lewis Carroll

                              Comment

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