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Evidence from leaked account data on how elites use offshore banking [pdf]

brookings.edu

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Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#31

Post by ErikVandeWater »

DSingularity wrote: post #12
Trias11 wrote: post #3

>> the customers of offshore banks are likely to be from the wealthiest segment of whichever society they come from. What a surprising discovery. Governments with the most abusive tax policies still cannot realize that they cannot tax their way to prosperity. Most creative and productive people, entities and businessed did, do and will use any tools at their disposal to escape barbaric tax racket and turn their atten…

Come on. The ultra-rich don’t pay their fair share. You know this and everyone knows this. Wealth inequality is obscene. Full stop.

> You know this and everyone knows this.

False consensus fallacy

Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#32

Post by celticninja »

haolez wrote: post #26
DSingularity wrote: post #12

Earlier quoted context omitted.

Come on. The ultra-rich don’t pay their fair share. You know this and everyone knows this. Wealth inequality is obscene. Full stop.

Why do you want access to other people's riches?

Why does one person need $1bn?

If we can ensure that no single individual has to live below the poverty line then I'm less worried about individuals who attain huge stores of wealth.

Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#33

Post by ficklepickle »

wait_a_minute wrote: post #5
Trias11 wrote: post #3

>> the customers of offshore banks are likely to be from the wealthiest segment of whichever society they come from. What a surprising discovery. Governments with the most abusive tax policies still cannot realize that they cannot tax their way to prosperity. Most creative and productive people, entities and businessed did, do and will use any tools at their disposal to escape barbaric tax racket and turn their atten…

What do you recommend for people who want to increase their wealth but aren't rich yet? The people who have potential and a solid foundation but don't yet have the capital necessary to move around like that and find the most favorable place.

> aren't rich yet

This is the real reason the ultra-wealthy aren't taxed. People think that they are obviously going to become rich any day now, and they won't want to pay high taxes when it inevitability happens. Some strange, shared delusion of the middle class.

Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#34

Post by gogopuppygogo »

techbio wrote: post #18
AlexandrB wrote: post #7

Earlier quoted context omitted.

Do you think there's any level of taxation where a wealthy individual wouldn't want to do some "tax avoidance" in another jurisdiction? I suspect there is not.

I suspect the more hands-on tools by which law and order is enforced such as asset seizure, 24/7 monitoring, discreditation, and prison time could be the motivation for otherwise tax averse entities to transparently contribute their exact tax proportion.

So enhancement of punishment and enforcement to allow government to redistribute wealth from some citizens to the government?

I think we’ve seen this before… usually ends in democide…

https://en.wikipedia.org/wiki/Democide

Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#35

Post by Trias11 »

ficklepickle wrote: post #23
Trias11 wrote: post #14

Earlier quoted context omitted.

Could you define "fair share" please in a way that everyone is agree with?

Everyone is unlikely to agree, but I'm pretty sure we could find a range that the majority of people agree with.

When majority is agrees on something it doesn't make this automatically the right thing.

Especially if this is a majority of non-productive, lazy individuals unwilling to get educated, work and prefer to live by selling their votes for printed money of government grants.

Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#36

Post by walrus01 »

vmception wrote: post #6

If you want more insight into this with less pejorative language, ditch the ICIJ and the Brookings study and look at KPMG, Deloitte and PwC annual reports on the offshore industry. The also know what they are doing instead of trying to reverse engineer it like these studies are.

> look at KPMG, Deloitte and PwC annual reports on the offshore industry

I'll add that to my reading list alongside the 'climate change' reports written by the global petrochemical industry, and the reports written by hedge-fund traders on what really happened in the 2008 financial crisis.

Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#37

Post by Trias11 »

wiz21c wrote: post #25
Trias11 wrote: post #14

Earlier quoted context omitted.

Could you define "fair share" please in a way that everyone is agree with?

Tax avoidance should be punished, that's all. Oh, and in my country, it is punished, it's just that the team which must find about the culprit are totally under staffed, what-a-surprise.

You're mistaking tax avoidance with tax evasion.

Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#38

Post by ajsnigrutin »

That's why i'm against high taxes.

We get a bunch of random political parties, promising to "tax the rich" and stuff, we get new laws... and what happens?

- The poor already pay very little tax - no change there

- The rich avoid the tax by doing shady stuff (who remembers the panama papers.. or this.. or many other stories like these)

- I, the middle class engineer get fucked by the taxes, and I get fucked hard, and not in fun way.

Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#39

Post by gogopuppygogo »

celticninja wrote: post #32
haolez wrote: post #26

Earlier quoted context omitted.

Why do you want access to other people's riches?

Why does one person need $1bn? If we can ensure that no single individual has to live below the poverty line then I'm less worried about individuals who attain huge stores of wealth.

Who needs a TV?

Who needs more than one pair of shoes?

Who determines what other people need?

Maybe we should forget we are adults and have a governing body tell us why we need so we don’t have to think about it?

Re: Evidence from leaked account data on how elites use offshore banking [pdf]

#40

Post by Trias11 »

celticninja wrote: post #32
haolez wrote: post #26

Earlier quoted context omitted.

Why do you want access to other people's riches?

Why does one person need $1bn? If we can ensure that no single individual has to live below the poverty line then I'm less worried about individuals who attain huge stores of wealth.

Instead of chasing the person with $1Bn, wouldn't it be more productive to learn from that person and educate others how to earn good money and live a good, productive lifestyle?

Otherwise many are under the impression that looting and robbing is a way to go.

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