Posted on 10/03/2021 12:59:53 PM PDT by American Number 181269513
A massive trove of newly released confidential records exposes lucrative tax havens for some of the world’s most rich and powerful figures, from Jordan’s king to spicy pop singer Sharika — and even an underground art dealer whose collections have been displayed at The Met.
Dubbed the “Pandora Papers,” the records consist of nearly 12 million documents detailing systematic tax-dodging by 14 firms that use off-shore bank accounts that hide the fortunes and assets of hundreds of wealthy clients.
The records, the largest ever leak of confidential documents, were compiled and released by the International Consortium of Investigative Journalists, a worldwide coalition of media organizations.
Among those nabbed with off-shore accounts are 35 current and former world leaders, including Jordan’s King Abdullah II, who had hidden $106 million from the purchase of mansions in Malibu and elsewhere, according to a report in the Washington Post.
Also shielding their assets from taxes were Czech Prime Minister Andrej Babis, Ukrainian President Volodymyr Zelensky, and Kenyan President Uhuru Kenyatta.
(Excerpt) Read more at nypost.com ...
So... Where is the news?
Tony Blair, Britain’s longest-serving prime minister, avoided paying more than $580,000 in property transfer taxes by purchasing an $11 million London mansion by buying the property through shares from a British Virgin Islands holding company, the papers show.
This is why the super wealthy do not fear or worry about high taxes. They won’t be paying diddly do. All those less rich who compete with them will be getting slowed down.
With all the bluster from the rotten democrats you would expect Donald J. Trump to be on the list.
Is the answer in a national sales tax? Everyone pays but the rich can only spend so much. The only thing tax-free should be one’s IRA contribution. Unlimited contributions until one has his/her 1st half a million.
The income tax abolished our freedoms.
Anything to cause class envy.
If I had a lot of money, I’d look for tax shelters too.
Our government is so irresponsible.
It hates us, and we’re developing a hatred for it.
The Founding Documents and the desired government the
Founders prescribed has been so bastardized, that it’s
a given that none of it matters anymore.
It doesn’t matter to our elected officials, and I’m
tired of acting like it does to me. How many lifetimes
do I have to spend, to see any of this Leftist
enshrinement rolled back?
Although this will be a scandal that is ignored, just how much should a wealthy person pay in taxes? Is a percentage of worth to be used to tax people who inherited billions or even millions, or income? Should they be taxed more because they did not earn the money?
When 47% of Americans do not pay any income taxes, that should be scandalous also.
Do celebrity/prominent people hide wealth to avoid excess taxes, is that fair or foul?
Envy, a terrible thing to possess, can eat holes in a heart and brain. Leave it be!
> Is the answer in a national sales tax?
no. anything “national” removes decision making higher and more distant (to DC) and ultimately becomes unaccountable to the general public.
the best way to raise federal tax revenue is through tariffs which is largely what was done prior to 1913 and the modern income tax. the best way to control tariffs is via congress at the state level.
imho.
“Where is the news” you ask…
The fact that an organization called the “International Consortium of Investigative Journalists” exists is BIG news. Of course, the fact that not a single U.S. “journalist” belongs to it is not news.
And there is probably nothing illegal about it.
Or, there shouldn’t be.
Was just referring to the fact it is well known that the “rich” & “famous” have ALWAYS had tax havens...
That is not news...
“...world’s most rich and powerful figures, from Jordan’s king to spicy pop singer Sharika..”
Sharika, huh? There are no longer any editors as far as I can see because every article contains glaring errors.
Now I know where our taxes go. Now I understand why so many African countries receive money from us and the people remain poor. None of the democrat’s tax plans are ever going to go after that money. They’ll take our money instead.
And the powerful ruling elite marches on. With our money.
For some of these foreign leaders I don’t think it’s a tax dodge. More likely, it’s a way to protect their assets in case their government gets overthrown and they have to flee the country.
I don’t watch anything CornPop says or does, but if anyone can let me know when he addresses this and spells out how the new IRS agents he wants will crackdown on this, I’d appreciate it. I might watch.
See tagline.
I’d be curious to see if Michael Moore is among those many rich and famous in these papers. I would not be surprised if he spends a lot of time living in France or Switzerland and that his daughter did most if not all of her education there as well.
there’s a pop singer Sharika now...?
i heard of Shakira
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.