Article that talks about how us poor people are the ones stuck paying all the taxes that help pay for all services that EVERYONE uses like hospitals, police and education.
1) What are your thoughts? This is legal should it be? Is it fair?
2) What could we do to stop the flow of overseas money hiding?
3) Should the Prime Minister of England step down, since his dad is mentioned in the papers?
http://www.cbc.ca/news/politics/fair-shake-neil-macdonald-1.3574375
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ReplyDeleteAlthough legal, I cannot call it “fair”. Thos who are directly a part of the Panama Papers did trying to achieve an unjust advantage by using offshore accounts. Some of the activity uncovered in the Papers will turn out to be illegal but the majority of the cases will be legal. The punishment for those with legal accounts will be nothing more than embarrassment. Those found to be a part of the Papers are merely opportunistic and competitive…. Not criminal.
There is no way for us to sort the flow of off shore money without completely changing our tax system. Tax avoidance is nothing new. The act of evasion has been around since 1430 when a man named Andrea Bianchi entered fraudulent information regarding his real estate. 586 years later, tax avoidance has evolved but not ceased. It will be impossible to create a tax system to please all citizens, so we often stick with the majority of citizens.
Prime Minister David Cameron has a very difficult decision to make. With his dad being mentioned in the papers and the recent resignation of the President of Iceland, the public is pushing Cameron to resign as well. David Cameron has admitted to previously owning stake in his father Ian Cameron’s offshore trust in Panama. It is suggested that he only dumped the shares in 2010 because he was as he was about to lead the country. Cameron has stated that “Of course I did own stocks and shares in the past - quite naturally because my father was a stockbroker. I sold them all in 2010, because if I was going to become Prime Minister I didn’t want anyone to say you have other agendas, vested interests.” Due to the fact that he sold them six years ago, I see no valid reason for why he should resign.
http://www.theatlantic.com/business/archive/2016/04/panama-papers-crimes/477156/
http://www.huffingtonpost.co.uk/entry/david-cameron-father-offshore-trust_uk_57069e85e4b01e4956fd225e?utm_hp_ref=panama-papers
http://www.politico.com/magazine/story/2016/04/panama-papers-tax-evasion-history-213832
http://www.cbc.ca/news/world/panama-papers-cameron-1.3522682
I think it really says something about peoples belief in taxes if Cameron only sold his stock because it would look bad and not because he disagrees with tax avoidance. If he resigns, he'll only be taking the fall for his party. A lot of people don't like his party at all
DeletePolitics and money speaks volumes. It is interesting what people will do for money and what they will do to keep it. There are so many issues surrounding it, you are classified by how much money you have. It is devastating but true.
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