Live data from Hacker News

Panama Papers: Mossack Fonseca leak reveals elite's tax havens

bbc.com

161–170 of 452 posts

Re: Panama Papers: Mossack Fonseca leak reveals elite's tax havens

#161
post #141
post #127

Earlier quoted context omitted.

Ignoring fairness of certain taxes and issues with tax laws in general, taxes are the rent one has to pay for living in a place. If you don't have income you usually won't pay most taxes at all. It's arguable how much of the tax system works and what parts are just plain broken and favor certain interest groups, but that's an implementation detail. If you visit places where much of the population evades taxes, you'll…

> If there were no taxes, you'd probably have to buy tickets to walk and drive on roads, stroll in the park, swim in a sea Do you have to insert coins into your smartphone every time you call someone these days? And yet it's almost impossible to live without a smartphone today, so people buy them and pay for the plans. But, but, they do have a choice of which operator to use (and, frankly, US is the worst example her…

You buy a recurring ticket for your phone and it's billed for anything else. It's like a tax plus extra use fees.

Privatization is not a general solution though. It needs regulation and oversight to keep unfair market practices to a minimum.

I totally get why you'd not want to finance many things, and I'm with you on most of those, but the world isn't that simple and human behavior/psychology surely isn't.

1, 2, 3, 4, 7) Totally with you here. The biggest defect is that government officials cannot be held responsible for their mismanagement and thus have no incentive to not screw up. This is totally different in a company. Steve Jobs got kicked out but that won't happen to a politician let alone made to pay for losses created. This needs to start with the people. First, getting elected to an office and office in general has to stop being about who gets the most money and money/favors must be eradicated from lobbying totally. Second, voters must stop treating elected persons as if they're replacement monarchs. They should just use Hollywood stars for that and buy their t-shirts or whatnot instead. I'd argue that feudalism still exists in the minds of most if you look at the way governors, ministers (not the religious kind) are treated with a red carpet, awe and looking up to. They're representatives voted into an office to manage things and are still just nothing more than a city clerk but with more decision power in the chain. People have a fascination with those in power and won't stop living in virtual feudalism because of that. Also that a US candidate has to look for campaign money and cannot focus on the agenda (s)he is trying to get votes for is a huge defect in the system. This is less of a problem in other countries.

The spending of taxes is broken and sadly you cannot hold anybody accountable. We could be living on Europa by now if we spent just 0.1% less on wars.

5, 6) The guy who doesn't want to work but gamble or waste his life leading an unhealthy lifestyle won't magically become a productive member of society. He will find other ways to use but not contribute. Some might argue that by supporting him to survive one prevents a worse fate for him and the society.

Re: Panama Papers: Mossack Fonseca leak reveals elite's tax havens

#162
post #125

Earlier quoted context omitted.

> whether they serve Russian interests or not. They do serve. You're assuming that free elections would benefit common Russians. They wouldn't. You're right about one thing, though: it wouldn't be Putin and his cronies siphoning all of Russia's wealth (resourceful citizens, natural resources, ...). It would be the western conglomerates.

The historical data does not support your theory. We all know that some of the countries now belonging to the "Western world", some time ago were neither democracies, nor successful free market economies. Now we all know about German, Korean and Japanese multinationals. Adopting the "Western" way does not mean surrendering and losing political and economical sovereignity. There were trade wars and political conflicts…

I see Germany, Korea and, to a letter extent, Japan, as completely surrendered to US interests.

Re: Panama Papers: Mossack Fonseca leak reveals elite's tax havens

#163

Apparently there are no American politicians or businessmen listed. And no coverage on NYTimes, CNN, Fox, MSNBC, CNN, USAtoday, LA Times, etc. That seems strange to me.

I bet we'll get the coverage soon. It has to be delivered in the right time - by Monday morning, just like in Europe.

Re: Panama Papers: Mossack Fonseca leak reveals elite's tax havens

#164
post #125

Earlier quoted context omitted.

> whether they serve Russian interests or not. They do serve. You're assuming that free elections would benefit common Russians. They wouldn't. You're right about one thing, though: it wouldn't be Putin and his cronies siphoning all of Russia's wealth (resourceful citizens, natural resources, ...). It would be the western conglomerates.

I do not know who "common Russians" are. However, I am Russian and I would like free elections, thank you.

Don't get me wrong - I definitely hope and wish you get them. I also hope and wish they won't be abused by the West. And I hope I'm wrong with my pessimism. But I fear I'm right...

Re: Panama Papers: Mossack Fonseca leak reveals elite's tax havens

#165

Earlier quoted context omitted.

> paid for by British tax payers, While that is mostly true, (it's the same people obviously) I'm pretty sure the BBC isn't funded by taxes . If they were, they would be under political control. Which would be silly.

Actually, the Office of National Statistics now classifies the TV Licence fee as tax.

It certainly is indistinguishable from a tax from the licensee's perspective, so I agree with the classification in that sense (e.g. for evaluating the tax pressure of UK citizens etc). The important takeaway however is that unlike proper taxes the money isn't politically controlled.

Re: Panama Papers: Mossack Fonseca leak reveals elite's tax havens

#166
post #72

> While much of the leaked material will remain private, there are compelling reasons for publishing some of the data. How convenient. > the papers simply reveal the vast number of people who use offshore to protect their wealth. There is nothing unlawful about doing this. It is not illegal to be a director, shareholder or beneficial owner – the real owner, even though their name may not appear on the shareholder reg…

> Then why hide it? There are a lot of legitimate reasons to use these kinds of services. Releasing all the data is a huge privacy violation for all the customers who have done nothing wrong. Would you like much of your perfectly legal business and/or personal finance dealings suddenly made public?

Yes. I think all contracts should be public (or, equivalently, that private contracts wouldn't be enforceable). That kind of transparency would help a lot with various issues we have these days (terrorism, inequality, corruption, bribery, white-collar crime, ...).

Re: Panama Papers: Mossack Fonseca leak reveals elite's tax havens

#167
post #30

> as well as Ukrainian President Petro Poroshenko, who has positioned himself as a reformer in a country shaken by corruption scandals I wonder how Ukrainians ,who fight for him and his "freedom" ideas, will react to this

As a Ukrainian, I'm livid. Our media mentioned Putin's offshores but obviously forgot about Poroshenko's. Same shit, different day.

One of the biggest Ukrainian news sites wrote about Poroshenko at 22:17 of local time: http://www.pravda.com.ua/news/2016/04/3/7104295/

Re: Panama Papers: Mossack Fonseca leak reveals elite's tax havens

#169

Apparently there are no American politicians or businessmen listed. And no coverage on NYTimes, CNN, Fox, MSNBC, CNN, USAtoday, LA Times, etc. That seems strange to me.

US I can kind of understand since offshore banks often refuse to deal with US persons for fear of running afoul of burdensome IRS reporting requirements. The lack of Canadians in the list is surprising, though.

Re: Panama Papers: Mossack Fonseca leak reveals elite's tax havens

#170

Hilarious that BBC, a broadcaster paid for by British tax payers, has a subheading in that article titled "Russian connection" describing various dealings of Russian characters who are "close associates" of Putin and an equally sordid "Iceland connection" but not even a mention of David Cameron's father's tax evading schemes listed in the documents which the people of Great Britain should be vastly more interested in…

It is remarkable that this breaking story focuses on Russia, Iceland and unfriendly/anti-Western dictators (Mubarak, Gaddafi, al-Assad). And apart from Cameron's father: - Pamela Sharples, member of the House of Lords - Michael Ashcroft, former Deputy Chairman of the Conservative Party and former member of the House of Lords - Michael Mates, former Member of Parliament And in the EU: - Giuseppe Donaldo Nicosia, busin…

What's so remarkable about focusing on heads of state rather than lesser ministers, members of parliament, etc.?
Post reply on HN