Monday, April 4, 2016

The Taxman

I highly doubt  it was some kind of cosmic accident that this Panama Paper dump has happened at the
height of the tax paying season here in the U.S., where working people are scrambling to pay accountants or H&R Block to do their tax returns, because the archaic and complicated tax rules are so hard to figure out you have to get help. However, for some people, it looks like complex tax codes=offshore tax havens=not paying anything. What I love are the headlines screaming about Putin and Cameron, like American political prostitutes aren't doing the same things. So where are the American names? Supposedly there will be a release of documents every 2 weeks.
Let's go back in time to 2012, it was the election and Mitt Romney was running, it was being reported that Romney had millions in offshore accounts. Fast forward to today and Bill and Hillary Clinton's tax exempt Clinton Foundation. Hillary stepped down when she became a presidential candidate, so Bill and Chelsea took over. They accept all kinds of money from foreign donors and I am sure it's all perfectly legal. However, many of the Clinton Foundations donations come from wealthy foreign and American donors offshored bank accounts.
It can be a non-profit, or offshored accounts, or one of my favorites, non-government organisations. These are for profit entities that rely on government and private funding, they rely on paid staff and are based around volunteer labor. I am sure some of them are great like OxFam, the point is there are many ways to avoid paying taxes worldwide. Donald Trump even spoke about it; $2.5 trillion sitting out of the country that they can’t get back because they don’t want to pay the tax"
a loophole that lets companies avoid taxes, they make it look like all the profits are coming from outside the U.S. so they don't have to pay. This problem is systemic and rampant. It is a worldwide 1% phenomena. I am sure that many of my honest hard working taxpaying friends are paying more than many corporations, It's a joke. There may be a lot of outrage over this Panama Paper dump, but seriously, it's not going to change. There's no accountability. I look at it like Governor Rick Snyder poisoning the people of Flint with contaminated water, there have been petitions and calls for him to step down, or for him to be arrested since last year, here we are in April and he's not going anywhere. 
No matter what the scandal or who's not paying taxes, it's the working class that gets hit.

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