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Panama Papers Mossack Fonseca Leak

Discussion in 'TRIBE Main Forum' started by Bernnie Federko, Apr 4, 2016.

  1. praktik

    praktik TRIBE Member

    Maybe we should have offered more tax breaks to the rich? With super low taxes no need for shell companies, amirite?
     
  2. praktik

    praktik TRIBE Member

    You know another option: its just too tough to figure out what all this means - maybe we should lock up all wealthy people and not let anymore in until we can figure out what's going on??
     
  3. wickedken

    wickedken TRIBE Member

    That's right! and then they can afford to invest in opportunities -- which means jobs for everyone! it all trickles down uc
     
  4. praktik

    praktik TRIBE Member

    That's what I heard! And that rising tides lift all boats!
     
  5. wickedken

    wickedken TRIBE Member

    I don't think it's that complicated actually. I'm not sure how I feel about offshore accounts. On one hand, merely having a bank account in a country not your residence doesn't seem so bad. Like if you're going to Vegas having a bank account there to avoid currency change fees etc. If you visit Europe often enough for work or something it's definitely useful.

    If your incorporating in a country not primarily where the company will do business, however, isn't the purpose solely to avoid taxation? That's the parlance, correct - tax avoidance? and then there are the companies that don't actually do business anywhere, but these lawyers seem to be good at getting documentation so everything is nice and legal.

    So then what's that called?
     
  6. wickedken

    wickedken TRIBE Member

    If you really want "false outrage", take a gander at Canada tells tax collectors to get hold of Panama Papers info | Toronto Star . I don't even know if this reporter actually exists because he seems to be the shill of the marketers for "Canadians". Disregarding the fact that the legality of anything CRA comes up with is suspect, it's telling that this "look-see" didn't happen with the leaked US State Department memos, which makes it seem moreso the distraction-type news you see every so often.
     
  7. ndrwrld

    ndrwrld TRIBE Member

    U2 did it. people still love them.
     
  8. praktik

    praktik TRIBE Member

    Its basically a trapping of the upper class - all kinds will have had their hands in this pie and I bet you most of it is going to be innocuous.

    Its like how poor people have Big Gulps, most wealthy people have a holding company or access to one they share with other wealthy people.
     
  9. wickedken

    wickedken TRIBE Member

  10. praktik

    praktik TRIBE Member

    To be clear, like along with the boring shit theres gonna be a pile of chicanery, but theres lots of reasons for wealthy individuals and corporations to have normal, boring functions served by these kinds of entities
     
  11. ndrwrld

    ndrwrld TRIBE Member

    off topic

    [​IMG]
     
  12. wickedken

    wickedken TRIBE Member

    The entire point of it is to minimize taxes and/or use a banking system with different requirements than a home country.
     
  13. praktik

    praktik TRIBE Member

    Ya i dont really have a frame of reference though for what % of overall activity is actually illicit, which in turn is a subset of "tax avoidance" (not all of which is illegal) and which would be distinct from more mundane concerns which have nothing to do with tax avoidance or "minimization" strategies.

    And all I know is the real world is most often more boring than the headlines...
     
  14. ndrwrld

    ndrwrld TRIBE Member

  15. ndrwrld

    ndrwrld TRIBE Member

  16. ndrwrld

    ndrwrld TRIBE Member

  17. praktik

    praktik TRIBE Member

    But ndrwrld, they had a responsibility to the shareholders to screw over the taxpayer!
     
  18. praktik

    praktik TRIBE Member

  19. ndrwrld

    ndrwrld TRIBE Member

    the lawyers here made out like fucking bandits.
    hide corporate / private peeps money, take a cut, and do the same thing.

    there is an obvious forced delay to release names here in Canada and the US.
     
  20. ndrwrld

    ndrwrld TRIBE Member

  21. Bass-Invader

    Bass-Invader TRIBE Member

    I think the tax inversion rules were changed a while back. It resulted in AbbVie pulling out of its takeover of UK based Shire. Or perhaps its a discretionary thing, and the prevailing view given the media exposure is that the discretion will be exercised to not allow inversion takeovers or whatever.
     
  22. praktik

    praktik TRIBE Member

  23. praktik

    praktik TRIBE Member

    Funny how the New Yorker doesn't care about George Soros when it answers this question
     
  24. Bass-Invader

    Bass-Invader TRIBE Member

    Is this the agreement that Bernie Sanders is referring to in his recent anti-panama agreement video clip?
     
  25. Wiseman

    Wiseman TRIBE Member


    Describe "more mundane concerns". I admit I don't know much about this stuff but I'm curious what reasons other than Tax avoidance offshore accounts there are.
     

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