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World Leaders Hid Wealth Via Shell Companies, Report Alleges

Nothing wrong with hiding money. Hiding income is the problem.

it still doesn't effect any of us... so I really don't care much.

the only thing they are doing is legally preventing their government from taking a portion of that income out of their economy though taxation... that's it, nothing more.

if you collect every red cent every one of these guys owes in taxes... every other person on earth will be wholly unaffected.


there are surely good arguments against this kind of behavior, but none of them are legal or economic arguments.... they all come down to emotional or moral arguments. ( mostly to the tune of " hey, why can they do that and I can't?... **** those guys".)
( as an aside, anyone can do this, there's no special law just for rich people)


it kinda funny though... when i heard these were all world leaders ... I automatically assumed they were douchebags, even before i read about what their actions were..... my cynicism towards politicians , as usual, is validated.
 
my thoughts?.. I don't care too much about it... it doesn't affect me , or any of us.

maybe instead of spending so much time trying to find ways to take peoples money and stop them from hiding it, we oughta be asking ourselves what we are doing to cause people to hide their money in the first place.... but that doesn't fit with the current political environment, so it won't happen.

First of all western countries have done everything for that invidiuals and companies should not hide their money. Because the last couple of decades both the wealthy and corporation have seen massive tax cuts and the wealthiest have seen drastic increase of their income and wealth. While for example middle classes American have had almost no real income increase during the last couple of decades.

Also it huge sums of money for example in EU the estimated cost is 1000 bilion euros a year.

A huge problem - European Commission

Also it's bad for small business. For example a mom and pop store can't spend money on expensive tax lawyes and hide their wealth in tax havens. So they are a disadvantage to big business that can avoid most of their taxes.

For over a decade we have seen or liberaties and privacy taken away in the fight against terrorism. So why should the wealthy have the right to hide their wealth? Then the same operations to hide money is used by dictators, mobsters and terrorist?
 
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