Panama Papers... and why nothing will come of it

[Chizzang]

The basics

[CitadelGrad]

Well, maybe not nothing. The heads of state in Ukraine and Iceland are under pressure to resign because of this.

[Skjellyfetti]

[youtube]https://www.youtube.com/watch?v=LrsI0Sw2hq8[/youtube]

[kalm]

Chizzy, are you implying...because it's fully endorsed by political leaders and "perfectly legal"?

… But even though various criminal money-laundering schemes are the sexiest possible use of shell companies, the day-to-day tax dodging is what really pays the bills. As a manager of offshore bank accounts told me years ago, “People think of banking secrecy as all about terrorists and drug smugglers, but the truth is there are a lot of rich people who don’t want to pay taxes.” And the system persists because there are a lot of politicians in the West who don’t particularly want to make them. …

… Incorporating your hedge fund in a country with no corporate income tax even though all your fund’s employees and investors live in the United States is perfectly legal. So is, in most cases, setting up a Panamanian shell company to own and manage most of your family’s fortune.

https://theintercept.com/2016/04/04/a-k ... legalized/

[Ivytalk]

Delaware's losing the Corporate Race to the Bottom.

[Grizalltheway]

Shouldn't the Ayn Rand-ian conks be in favor of this? Captains of industry protecting their hard-earned wealth from the evil redistributionists?

[Ivytalk]

Shouldn't the Ayn Rand-ian conks be in favor of this? Captains of industry protecting their hard-earned wealth from the evil redistributionists?

Yeah, but Panama is so tacky and third-worldy. Whatever happened to the good old days of Switzerland?

[Chizzang]

Well, maybe not nothing. The heads of state in Ukraine and Iceland are under pressure to resign because of this.

Under pressure to resign...
If I could steal millions of dollars and the result was "pressure"
not 50 years in prison

So what....

[SDHornet]

[youtube]https://www.youtube.com/watch?v=LrsI0Sw2hq8[/youtube]

This is great fodder for bernie. This story would be even better if hilldog is somewhere in the leaks (she probably deleted those emails already).

[SDHornet]

Well, maybe not nothing. The heads of state in Ukraine and Iceland are under pressure to resign because of this.

Under pressure to resign...
If I could steal millions of dollars and the result was "pressure"
not 50 years in prison

So what....

No kidding.

[CitadelGrad]

Well, maybe not nothing. The heads of state in Ukraine and Iceland are under pressure to resign because of this.

Under pressure to resign...
If I could steal millions of dollars and the result was "pressure"
not 50 years in prison

So what....

Resignation would be the first step. We all know that Iceland does not tolerate financial shenanigans.

Poroshenko is the CIA's boy, but the Ukie opposition has been alleging Poroshenko's financial malfeasance since he's been in office. If Ukraine is willing to put a hot former female president in prison, they'll be more than happy to put Poroshenko in prison.

[SDHornet]

Shouldn't the Ayn Rand-ian conks be in favor of this? Captains of industry protecting their hard-earned wealth from the evil redistributionists?

Or we could lower corporate taxes so that the cost and hassle of going through this isn't worth it...of course now there will just be another "Panama" that will get something like this going.

I equate this feel good story to the increase in minimum wage to $15 CA just passed. Yeah it's cool, but it really just increases the demand for cheap illegal labor.

[tribe_pride]

Well, maybe not nothing. The heads of state in Ukraine and Iceland are under pressure to resign because of this.

I read that the Iceland PM just resigned

[Ibanez]

Shouldn't the Ayn Rand-ian conks be in favor of this? Captains of industry protecting their hard-earned wealth from the evil redistributionists?

Or we could lower corporate taxes so that the cost and hassle of going through this isn't worth it...of course now there will just be another "Panama" that will get something like this going.

I equate this feel good story to the increase in minimum wage to $15 CA just passed. Yeah it's cool, but it really just increases the demand for cheap illegal labor.

NY and CA just got more expensive.

[Ivytalk]

Well, maybe not nothing. The heads of state in Ukraine and Iceland are under pressure to resign because of this.

I read that the Iceland PM just resigned

Must have been the roaring throng of 150 reproductively-challenged Icelanders in the Reykjavik public square.

[89Hen]

Damn Icelanders.

[Baldy]

Shouldn't the Ayn Rand-ian conks be in favor of this? Captains of industry protecting their hard-earned wealth from the evil redistributionists?

Yeah, but Panama is so tacky and third-worldy. Whatever happened to the good old days of Switzerland?

I prefer the Cayman's.

[dbackjon]

Delaware's losing the Corporate Race to the Bottom.

You need to move to Panama!

[dbackjon]

Shouldn't the Ayn Rand-ian conks be in favor of this? Captains of industry protecting their hard-earned wealth from the evil redistributionists?

Or we could lower corporate taxes so that the cost and hassle of going through this isn't worth it...of course now there will just be another "Panama" that will get something like this going.

I equate this feel good story to the increase in minimum wage to $15 CA just passed. Yeah it's cool, but it really just increases the demand for cheap illegal labor.

We could lower it to 5% and there would still be tax dodging. Taxes are for the little people.

[89Hen]

Taxes are for the little people.

Good to know I'm a little person. A vast majority of folks on your side of the isle don't agree.

[JoltinJoe]

Under pressure to resign...
If I could steal millions of dollars and the result was "pressure"
not 50 years in prison

So what....

No kidding.

We've become so tolerant of leaders who amass great personal wealth and the expense of the public.

Kings and despots were hanged or beheaded for these type of atrocities at the start of the Enlightenment era. Which is why we can all tour Versailles today.

Would today's despots be so quick to gorge themselves like this if they feared having their necks being placed under the guillotine?

Hey, just a thought ...

[dbackjon]

No kidding.

We've become so tolerant of leaders who amass great personal wealth and the expense of the public.

Kings and despots were hanged or beheaded for these type of atrocities at the start of the Enlightenment era. Which is why we can all tour Versailles today.

Would today's despots be so quick to gorge themselves like this if they feared having their necks being placed under the guillotine?

Hey, just a thought ...

I'm down for a little revolution.

[bandl]

We've become so tolerant of leaders who amass great personal wealth and the expense of the public.

Kings and despots were hanged or beheaded for these type of atrocities at the start of the Enlightenment era. Which is why we can all tour Versailles today.

Would today's despots be so quick to gorge themselves like this if they feared having their necks being placed under the guillotine?

Hey, just a thought ...

I'm down for a little revolution.

Uh, your peeps don't do so well in these revolutions....you know?

[Chizzang]

No kidding.

We've become so tolerant of leaders who amass great personal wealth and the expense of the public.

Kings and despots were hanged or beheaded for these type of atrocities at the start of the Enlightenment era. Which is why we can all tour Versailles today.

Would today's despots be so quick to gorge themselves like this if they feared having their necks being placed under the guillotine?

Hey, just a thought ...

Joe,
The only way the unwashed masses can affect change (effect change) is to start killing people in power
I'm not suggesting - I'm saying "History shows us this"

The Ruling Class will rule until they are dragged into the streets and killed
and they will then quickly be replaced by a new ruling class - who will eventually behave the same



and so.... her we are again

[dbackjon]

I'm down for a little revolution.

Uh, your peeps don't do so well in these revolutions....you know?

Who do you think coordinates all the outfits?