yah likely WB and BG wont need to do offshore banking. On one hand WB is an advocate for taxing the rich more, on the other hand his berkshire has helped finance the tax inversion deal for burger king with canadian tim hortons. So who knows maybe they have some rich man funds squirrelled away in offshore entities.
On another note, looks like despite all the FIFA scandal last year, both FIFA and UEFA are still kelong....
http://www.dailymail.co.uk/sport/sportsn...clean.html
It's no use trying to tax the rich bro, you can maybe tax somebody who is a millionaire or have $20 million in their name.
but the wealthy or really really wealthy who own large businesses properties houses cars private jets but not in their name they put everything in trusts which they control, and these trusts retains all the income, pays their bills provide their traveling even the clothes on their backs.
that's why there all kinds of charity foundations in America and I read some of these trusts claim to pay even lesser income taxes than ordinary Americans.
(09-04-2016, 07:20 AM)BlueKelah Wrote: [ -> ]yah likely WB and BG wont need to do offshore banking. On one hand WB is an advocate for taxing the rich more, on the other hand his berkshire has helped finance the tax inversion deal for burger king with canadian tim hortons. So who knows maybe they have some rich man funds squirrelle away in offshore entities.
On another note, looks like despite all the FIFA scandal last year, both FIFA and UEFA are still kelong....
http://www.dailymail.co.uk/sport/sportsn...clean.html
WB made it very clear during the Buffett tax debate: he will minimise his taxes as much as it is legal based on capitalistic incentive, which is what everyone should do. Thats why the tax code / legal structure has to change
The irony is of course some uninformed republicans say why dont he just pay taxes well above his mandated taxes if he believes in what he say, but he doesn't shows he is contradictory. I almost jaw drop on the logic, especially towards one who is donating more than 90% of wealth
I remembered that as well on republicans asking WB to pay taxes above legally required. Kind of dump folded. WB is pro democrat btw.
Many of this republicans makes nonsensical arguments against obama administrations as well for the sake of opposing, which are reflective the quality of the republican leadership has deteriorated so badly that small leaders Trump and Cruz are toppling them all over.
Panama Papers is a Pandora Box. More interesting law suits and conflicts are expected...
US hedge fund sues 'Panama Papers' law firm
09 Jun 2016 06:30
[WASHINGTON] The law firm at the centre of the Panama Papers scandal is under fresh attack, facing a lawsuit from the powerful US hedge fund that successfully sued Argentina.
New York tycoon Paul Singer's Elliott Management Corp. accused the law firm, Mossack Fonseca, of helping Argentine clients hide money as Elliott was pursuing the Argentine government to pay off defaulted bonds.
...
AFP
Source: Business Times Breaking News