Post: #1

https://www.icij.org/

Quote:The world’s biggest businesses, heads of state and global figures in politics, entertainment and sport who have sheltered their wealth in secretive tax havens are being revealed this week in a major new investigation into Britain’s offshore empires.

The details come from a leak of 13.4m files that expose the global environments in which tax abuses can thrive – and the complex and seemingly artificial ways the wealthiest corporations can legally protect their wealth.

The material, which has come from two offshore service providers and the company registries of 19 tax havens, was obtained by the German newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists with partners including the Guardian, the BBC and the New York Times.

The project has been called the Paradise Papers. It reveals:

Millions of pounds from the Queen’s private estate has been invested in a Cayman Islands fund – and some of her money went to a retailer accused of exploiting poor families and vulnerable people.
Extensive offshore dealings by Donald Trump’s cabinet members, advisers and donors, including substantial payments from a firm co-owned by Vladimir Putin’s son-in-law to the shipping group of the US commerce secretary, Wilbur Ross.
How Twitter and Facebook received hundreds of millions of dollars in investments that can be traced back to Russian state financial institutions.
The tax-avoiding Cayman Islands trust managed by the Canadian prime minister Justin Trudeau’s chief moneyman.
A previously unknown $450m offshore trust that has sheltered the wealth of Lord Ashcroft.
Aggressive tax avoidance by multinational corporations, including Nike and Apple.
How some of the biggest names in the film and TV industries protect their wealth with an array of offshore schemes.
The billions in tax refunds by the Isle of Man and Malta to the owners of private jets and luxury yachts.
The secret loan and alliance used by the London-listed multinational Glencore in its efforts to secure lucrative mining rights in the Democratic Republic of the Congo.
The complex offshore webs used by two Russian billionaires to buy stakes in Arsenal and Everton football clubs.
The disclosures will put pressure on world leaders, including Trump and the British prime minister, Theresa May, who have both pledged to curb aggressive tax avoidance schemes.

The publication of this investigation, for which more than 380 journalists have spent a year combing through data that stretches back 70 years, comes at a time of growing global income inequality.

Meanwhile, multinational companies are shifting a growing share of profits offshore – €600bn in the last year alone – the leading economist Gabriel Zucman will reveal in a study to be published later this week.


“Tax havens are one of the key engines of the rise in global inequality,” he said. “As inequality rises, offshore tax evasion is becoming an elite sport.”

At the centre of the leak is Appleby, a law firm with outposts in Bermuda, the Cayman Islands, the British Virgin Islands, the Isle of Man, Jersey and Guernsey. In contrast to Mossack Fonseca, the discredited firm at the centre of last year’s Panama Papers investigation, Appleby prides itself on being a leading member of the “magic circle” of top-ranking offshore service providers.

It acted for the establishment offshore, providing the structures that helped to legally reduce their tax bills.

Appleby says it has investigated all the allegations, and found “there is no evidence of any wrongdoing, either on the part of ourselves or our clients”, adding: “We are a law firm which advises clients on legitimate and lawful ways to conduct their business. We do not tolerate illegal behaviour.”

Post: #2

No quote, link is indirect. 2/10 Would Not Click Again

edit: there we go

Post: #3

(11-05-2017 02:27 PM)YoungBlade Wrote:  No quote, link is indirect. 2/10 Would Not Click Again

Was in the middle of editing

Post: #4

We Need a Data Sheet on Sheltering your wealth ASAP

Post: #5

Yawn the Panama papers was a big 'ol nothing burger and so will this one be as well.

The cost of socialism is only to be shared by the plebs, which is why the ideology is so nefarious.

It's been this way since the dawn of time, even in the so-called utopia of the Soviet Union.

Post: #6

(11-05-2017 09:21 PM)The Beast1 Wrote:  Yawn the Panama papers was a big 'ol nothing burger and so will this one be as well.

The cost of socialism is only to be shared by the plebs, which is why the ideology is so nefarious.

It's been this way since the dawn of time, even in the so-called utopia of the Soviet Union.

Socialists can't seem to fathom that people who work hard for something don't want to have it stolen from them by a bunch of freeloaders.

Post: #7

(11-05-2017 09:21 PM)The Beast1 Wrote:  Yawn the Panama papers was a big 'ol nothing burger and so will this one be as well.

The cost of socialism is only to be shared by the plebs, which is why the ideology is so nefarious.

It's been this way since the dawn of time, even in the so-called utopia of the Soviet Union.

Nothing burger?

U.S.- Saudi-Israel collaboration is nothing to you?

Post: #8

(11-05-2017 09:40 PM)YoungBlade Wrote:  

(11-05-2017 09:21 PM)The Beast1 Wrote:  Yawn the Panama papers was a big 'ol nothing burger and so will this one be as well.

The cost of socialism is only to be shared by the plebs, which is why the ideology is so nefarious.

It's been this way since the dawn of time, even in the so-called utopia of the Soviet Union.

Nothing burger?

U.S.- Saudi-Israel collaboration is nothing to you?

I'm pretty sure a lot of people already knew they were collaborating prior to the release of the papers (myself included). The leak exposed nothing new that we didn't already
know before.

Post: #9

How does one express their concerns in public about these various tax schemes and elaborate arrangements of secret crony capitalism without giving unintended support and political power to the left wing NDP/Bernie bros "capitalism is the problem, man" types?

The result of this kind of news is that it entrenches left wing elitists like Troolander in government, who gain easy votes by using simple rhetoric about rich people paying "their fair share" and the "solution" is always higher taxes on Drs and managers and other successful people and small businesses while ignoring the egregious tax avoidance of the ultra wealthy.

Post: #10

(11-06-2017 10:17 AM)christpuncher Wrote:  The result of this kind of news is that it entrenches left wing elitists like Troolander in government, who gain easy votes by using simple rhetoric about rich people paying "their fair share" and the "solution" is always higher taxes on Drs and managers and other successful people and small businesses while ignoring the egregious tax avoidance of the ultra wealthy.

In some countries when you can afford a decent life you are seen as rich and wealthy already. Then you are among those that can save some money or own some property. But the super wealthy are the ones that hire law firms that work on law bills, send to the politician puppets. The biggest scandal at the panama papers is mostly, that none of the people involved did anything illegal according to the law. Because laws are made for them.

But they give you hell of a time when you manage somehow a decent lifestyle with some money.

http://www.taxjustice.net/cms/upload/pdf...120722.pdf

Quote:At least $21 trillion of unreported private financial wealth was owned by wealthy individuals via tax havens at the end of 2010.This sum is equivalent to the size of the United States and Japanese economies combined.

This means about 0,1% of the people own about 80 % financial assets. With such power you can own governments, shape politics in your favour. Guys like Soros are the tip of iceberg.
Its strange how they bash a guy that yearns a few millions peer year but look away at those elite wealthy families that own us all. Well its not even strange we are feed with media distraction, migrant invasion, conflicts and other issues to fight each other instead to see the ones who pull the strings of the puppets.

Post: #11

(11-05-2017 08:36 PM)zigZag Wrote:  We Need a Data Sheet on Sheltering your wealth ASAP

Offshore Incorporation and Banking Datasheet

You have two wishes left. You can use one to exchange your citizenship.

Post: #12

Tax havens are a moral responsibility for the successful.

Post: #13

Boring. This is all legal, whats the point of this? obviously instilling class warfare fodder

you can set up any offshore banking for $500 and incur maintenance of $2k per year... this makes enough sense for any small business owner.. set up a passthrough in a low tax state (wyoming), get a Panama/Paradise tax haven as the owner of that business.. Boom.Done. No assets are seizable by frivolous lawsuits, the fed doesnt have their hands in your bankroll nor rights to the taxes on it! Per Simon Black's last podcast..

Post: #14

Offshoring of cash is a serious problem that undermines the stability of nation states. It is bankrupting the West.

Globalists are using sweatshop labor in Communist countries, then storing their cash in small banks where no one can touch it? Do these guys seriously think they are invincible?

There is no law internationally, just the law of the jungle. Just a matter of time before someone decides (highly probably a US president does it) to send troops into these tax-shelters and seize assets.

Post: #15

(11-15-2017 03:54 AM)Stakes Is High Wrote:  Boring. This is all legal, whats the point of this? obviously instilling class warfare fodder

you can set up any offshore banking for $500 and incur maintenance of $2k per year... this makes enough sense for any small business owner.. set up a passthrough in a low tax state (wyoming), get a Panama/Paradise tax haven as the owner of that business.. Boom.Done. No assets are seizable by frivolous lawsuits, the fed doesnt have their hands in your bankroll nor rights to the taxes on it! Per Simon Black's last podcast..

I agree about the legality - there was no reason to report on it. They could have done a piece on tax avoidance without publishing anyone's (legal) personal business.

These days with all of the automatic reporting going on, you'll need personal nominees if you wish to keep it private and avoid audit risks.

(11-15-2017 11:59 AM)Samseau Wrote:  Offshoring of cash is a serious problem that undermines the stability of nation states. It is bankrupting the West.

Globalists are using sweatshop labor in Communist countries, then storing their cash in small banks where no one can touch it? Do these guys seriously think they are invincible?

There is no law internationally, just the law of the jungle. Just a matter of time before someone decides (highly probably a US president does it) to send troops into these tax-shelters and seize assets.

There's nothing but paper and lawyers (nominees) in those tax havens... what are they going to seize?

Post: #16

(11-15-2017 11:59 AM)Samseau Wrote:  Offshoring of cash is a serious problem that undermines the stability of nation states. It is bankrupting the West.

Globalists are using sweatshop labor in Communist countries, then storing their cash in small banks where no one can touch it? Do these guys seriously think they are invincible?

There is no law internationally, just the law of the jungle. Just a matter of time before someone decides (highly probably a US president does it) to send troops into these tax-shelters and seize assets.

No president would do this because they are all offshoring their money as well. No rational human being is gonna work hard and then watch government take half of their earnings and spend it on people who didnt earn it. It goes against everything. It's your moral right to enjoy the fruits of your labor.

There are plenty of international laws concerning things like this and that's why they get away with it so easily because it's not only legal it's also the moral thing to do. The problem in problem in the west isn't rich people wanting to keep their money from greedy governments. It's greedy governments shaking down everybody so they can promise welfare to people to get votes. The west will be destroyed by welfare states not offshoring.

Post: #17

"The Organization for Economic Cooperation and Development on Thursday said the share of economic output taken by governments in developed economies as taxes has risen to its highest level since records began 50 years ago."

https://www.wsj.com/articles/as-global-g...1511431206

We are living in the biggest level of taxation in western countries in 50 years. And people wonder why we are being passed by China. Why are our economies so weak.

This type of news garbage just like the banana papers, are just a tool of manipulation for the peasants to enslave themselves more on taxation.
I did enjoy watching Soros on the list though. The guy who advocates openness has his company parked in one of the most secretive tax haven. This everybody already knew. The hypocrisy.

Buffett is a liar. His company pays taxes. Afterwards he pays capital gains when dividends are distributed. Of course since his managing people money the effect of taxation are dilluted. He´s not the owner of the company. This is not to say from a company who actually produces goods and his owned by few people and not just moves money around. Like him.

Most of the elite don´t need offshores because they live in offshores. Or have strawmans living in them. There´s always a loophole or backdoor for legal tax evasion. Always. A small circle gets the notice. And use it. Too many people start knowing about it. They close it and open another one.
Before the law is even published a heads up to major law firms and consulting firms is done. Most of the time these companies are the ones who draft the law.
Belgium doesn´t tax capital gains. How´s that? There´s more with Belgium. But I won´t publish on a public forum.
The tax persecution of public figures (vg Messi and Ronaldo) is to show nobody is above the law. And for the commoners to accept tax persecution and tax hikes. It´s to punish the rich cries the fool. They are being manipulated by their envy. But are the ones who suffer more. Because the rope always break in it´s weakest point.

Also when your in the elite you know exactly how the tax money is spent. And you can hear the guy bragging about it. I´m not talking about tax evasion. But money given by the state. For the left tax money is their own. They consider all state assets as their own. Literally. To dispose of them as they see fit.

What is taxed? Money circulation. What happens when money circulation is obstructed/atacked?

History has repeatedly shown countless times taxation destroys wealth. Creates abjects forms of misery.

“I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”


― Winston S. Churchill