Quote:
Originally Posted by wdmso
Pandora Papers show how tax havens are part of the global inequity problem
The massive leak shows wealthy individuals from all over the world parking money in Caribbean tax havens, hiding assets in foreign trusts and shielding their wealth in opaque Panamanian corporations
While prominent Americans largely escaped the investigation’s gaze, the United States itself did not, as researchers found that the US now serves as an overseas tax haven for many.
Experts told NPR that the US’ low tax rates (compared to other developed nations) contributed to the findings, which indicated that some Americans simply found no need to stash money abroad; others were found to be likely using companies whose finances were not revealed in the latest batch of documents.
And some Americans still use the same methods to hide assets when under investigation or facing lawsuits,
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"some Americans simply found no need to stash money abroad;"
Would you be better off if more Americans stashed their money abroad? How would that help you, or poor people, exactly?