Maybe we should have offered more tax breaks to the rich? With super low taxes no need for shell companies, amirite?
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.Reading your unoriginal faux outrage is like watching a bad Steven Colbert impersonator hindered by a couple massive strokes bumble through his monologue.
Your simplistic and annoying synopses of complicated economic issues will probably drive more wealthy people to evade taxes so they don't have to keep your obnoxious flapping mouth fed and watered.
The entire point of it is to minimize taxes and/or use a banking system with different requirements than a home country.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
Is this the agreement that Bernie Sanders is referring to in his recent anti-panama agreement video clip?But, in 2010, the United States and Panama signed a trade-promotion agreement that, among other things, obliged Panama to provide to the U.S. authorities, on request, “information regarding the ownership of companies, partnerships, trusts, foundations, and other persons, including . . . . ownership information on all such persons in an ownership chain.” Higgins pointed out, “If Panama had ever been an attractive destination for American offshore storage of funds, this agreement shut the door on that possibility.”
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...