Armed Polite Society

Main Forums => The Roundtable => Topic started by: MillCreek on October 03, 2021, 09:37:24 PM

Title: The Pandora Papers
Post by: MillCreek on October 03, 2021, 09:37:24 PM: https://www.theguardian.com/news/2021/oct/03/pandora-papers-biggest-ever-leak-of-offshore-data-exposes-financial-secrets-of-rich-and-powerful. I have been reading some interesting articles about this. Fascinating how money moves around behind the scenes.
Title: Re: The Pandora Papers
Post by: fifth_column on October 04, 2021, 02:39:21 PM: I haven't looked any further than the linked article. What surprised me from that article: "the US emerges from the leak as a leading tax haven. The files suggest the state of South Dakota, in particular, is sheltering billions of dollars in wealth linked to individuals previously accused of serious financial crimes."

I'm in no position to utilize tax havens so it's not something I've ever looked into, but SD seems an unlikely place to build such a shelter.
Title: Re: The Pandora Papers
Post by: French G. on October 04, 2021, 02:53:54 PM: Short on wrongdoing so far as I have seen, mainly a vehicle for the internationalists to demand their fair share of what they didn’t earn.
Title: Re: The Pandora Papers
Post by: Fly320s on October 04, 2021, 03:30:16 PM: Quote from: French G. on October 04, 2021, 02:53:54 PM
Short on wrongdoing so far as I have seen, mainly a vehicle for the internationalists to demand their fair share of what they didn’t earn.

Exactly.
Title: Re: The Pandora Papers
Post by: MillCreek on October 04, 2021, 03:40:03 PM: An explanation of South Dakota:

https://www.theguardian.com/news/2021/oct/04/pandora-papers-reveal-south-dakotas-role-as-367bn-tax-haven
Title: Re: The Pandora Papers
Post by: Angel Eyes on October 04, 2021, 04:54:18 PM: Quote from: MillCreek on October 04, 2021, 03:40:03 PM
An explanation of South Dakota:

https://www.theguardian.com/news/2021/oct/04/pandora-papers-reveal-south-dakotas-role-as-367bn-tax-haven

Quote
But the Pandora papers – a leak of 11.9m files from 14 different offshore services providers around the world – reveal how the US is also emerging as a key location for trusts, which are typically used to shelter the personal wealth of super-rich individuals rather than multinationals.

Trusts are also used by millions of middle-class people to protect assets they worked very hard to earn.

Typical of the Guardian: take note of a perfectly legal activity and spin the article so the activity sounds evil.
Title: Re: The Pandora Papers
Post by: freakazoid on October 04, 2021, 07:55:30 PM: Not having read the article, I'm going to guess that what they are really complaining about is people being able to keep their money.
Title: Re: The Pandora Papers
Post by: K Frame on October 05, 2021, 07:16:12 AM: Is Trump mentioned in the papers?

If he is, the Democrats should impeach him. Again.

Double secret impeachment.
Title: Re: The Pandora Papers
Post by: MechAg94 on October 05, 2021, 08:45:38 AM: Quote from: freakazoid on October 04, 2021, 07:55:30 PM
Not having read the article, I'm going to guess that what they are really complaining about is people being able to keep their money.
I also don't see them looking into which politicians put those tax shelters into law.
Title: Re: The Pandora Papers
Post by: Blakenzy on October 05, 2021, 09:32:22 AM: The UK & territories is a den of conniving bankers.
Title: Re: The Pandora Papers
Post by: fifth_column on October 05, 2021, 11:37:54 AM: Quote from: MechAg94 on October 05, 2021, 08:45:38 AM
I also don't see them looking into which politicians put those tax shelters into law.

This seems like a worthy endeavor.

Many of the people they mention in the article are anti-corruption politicians that are squirrelling away hundreds of millions of dollars, and others that are accused of money laundering and other illegal acts.
Title: Re: The Pandora Papers
Post by: bedlamite on October 05, 2021, 01:13:28 PM: Iirc, South Dakota changed their laws a few decades ago to attract credit card companies, and I bet this is a side effect.