As a self-proclaimed American Nationalist, WinLoseorDraw has no sympathy for leaks that threaten American security by revealing sensitive national secrets to the world. However, the recently leaked Pandora Papers, and the Panama Papers leak in 2016, work to strengthen national and international security.
The Pandora Papers and the Panama Papers are two massive troves of leaked documents revealing the secret offshore accounts of 35 world leaders, including current and former presidents, prime ministers, and heads of state as well as more than 100 billionaires, celebrities, and business and religious leaders. The International Consortium of Investigative Journalists (ICIJ) who have released these documents estimate the amount of money held offshore (outside the countries where the money was made) range from US$5.6 trillion to US$32 trillion.
Make no mistake the reason for attempting to hide these accounts is to cover up the fact that they have been created to avoid the normal and legal tax laws in the countries where the money was earned, therefore defrauding the people of those countries.
By attempting to thumb their noses at legitimate taxes, tax evaders are placing a higher tax burden on law abiding citizens like you and me.
People named as tax evaders in these documents so far are King Abdullah II of Jordan, former Prime Minister Tony Blair of Great Britain, close associates of Vladimir Putin in Russia, the current presidents of several other countries, many billionaires, people associated with drug cartels, and celebrities like Shakira and Claudia Schiffer.
In America, the U.S. Department of State will investigate trust funds sheltering over a billion dollars in South Dakota, Delaware, Texas, Nevada, and my state of Florida.
Or the United States of America can regain the lead in economic Opportunity (A useful approximation is the Heritage Foundation’s annual Index of Economic Liberty. The US fell from 4th in 1995 to 20th in 2021.) Make the USA The World’s Best Tax Shelter by passing the Fair Tax Act of 2021, HR 25, in its current form.
If their money is here, it makes it easier, perhaps to investigate and seize or freeze when appropriate. Take Putin’s loot and use it to buy all of his nukes that are aimed at us.
The Fair Tax will make US the best place to invest and produce because we will abolish taxes on production and instead tax consumption.
This Thanksgiving, I will mention South Dakota, Delaware, Texas, Nevada, and Florida in my long list of people for whom I am grateful. According to those of us who want to shrink the central government, states are supposed to be the laboratories for policies that can teach other states. Hooray for the Economically Literate Five!
Tax evasion is illegal and this is where “defrauding” applies, not to legal tax avoidance. Just because a “steeply progressive income tax” was prescribed in the Communist Manifesto, doesn’t mean we have to accept it as “legitimate.” Some laws are bad.
Business leaders, as well as their employees, got paid to provide goods and services. And I assume that the savings firms in the five states lend the money to legitimate businesses.
How did those politicians you mentioned, get so much dough?
Richard said, “Tax evasion is illegal and this is where “defrauding” applies, not to legal tax avoidance. Just because a “steeply progressive income tax” was prescribed in the Communist Manifesto, doesn’t mean we have to accept it as “legitimate.” Some laws are bad.”
My objection is not based on any allegiance to a “steeply progressive income tax”. The tax laws and structure need to be reformed and simplified. Meanwhile, we are obligated, as citizens, to obey the laws as currently written. Nes pas?
Richard asked, “How did those politicians you mentioned, get so much dough?”
Remember the Republican myth known as Trickle Down economics? The only problem with Trickle Down is that it doesn’t.