Panama Papers

[chippa1909]

Things are about to get very interesting about why austerity is being forced on billions of people worldwide, while the rich hide their assets.

 

[SocketRocket]

Things are about to get very interesting about why austerity is being forced on billions of people worldwide, while the rich hide their assets.

I fail to see the relationship between Government Austerity measures to rectify State overspending and the way some companies are registered in places like BVI, Jersey , Isle of Mann etc. OK, some dodgy states and individuals must be taking advantage of such institutions but it's hardly the reason countries like the UK have such a massive National Debt.

 

[Deleted member 16999]

I fail to see the relationship between Government Austerity measures to rectify State overspending and the way some companies are registered in places like BVI, Jersey , Isle of Mann etc. OK, some dodgy states and individuals must be taking advantage of such institutions but it's hardly the reason countries like the UK have such a massive National Debt.

Well if it's any members of the current government it doesn't actually back up the "all in it together" shout.

 

[SocketRocket]

Well if it's any members of the current government it doesn't actually back up the "all in it together" shout.

'All in it together' doesn't mean we are all poor. Offshore business is nothing new and is not illegal as long as it's not money laundering. Many very rich people around the world put their money away for many reasons and not all illegal.

 

[Deleted member 16999]

'All in it together' doesn't mean we are all poor. Offshore business is nothing new and is not illegal as long as it's not money laundering. Many very rich people around the world put their money away for many reasons and not all illegal.

Never said anything about it being illegal, but if it's for "legal" tax avoidance, then morally it stinks.

 

[SocketRocket]

Never said anything about it being illegal, but if it's for "legal" tax avoidance, then morally it stinks.

Do you pay more tax than you need to? ISAs are a way of avoiding tax legally. Do they morally stink?

 

[Ethan]

Do you pay more tax than you need to? ISAs are a way of avoiding tax legally. Do they morally stink?

That is an intentionally pig-headed comment. You know well that an ISA, whatever the pitiful interest rate, is not a means of tax avoidance. Nor is having a personal allowance, or putting money into a pension. They don't morally stink, although as good value investments they are pretty rubbish.

As for the 'all in it together', it was clear that that is a line intended to make the peasants believe the wealthy, who benefitted from the economic boom and caused the inevitable economic crash, were paying their share. It is obvious they are not, and are in many cases benefitting even more from the so-called austerity.

It is also brass necked of Gideon to make sanctimonious comments about Google or Starbucks avoiding tax when his family company, from which he benefits, pays no corporation tax on its profits due to offshoring. He is a lying hypocrite. And the media support the line, because the big media companies, including the Daily Mail, are all offshored too.

It is amazing how often gullible people vote against their economic interests. The Tories have never ever cared about working people. They despise the gullible peasants and only care about their own political class.

 

[Tashyboy]

There is a massive difference between paying more tax than you need to and avoiding paying any at all.
As has been proven by these disclosures.

 

[MegaSteve]

Do you pay more tax than you need to?

Yep... Because if all those that are in a position to and do make all necessary arrangements to avoid their 'share' divvied up... Then we'd all only be paying about 10%... Even the despots....

 

[Tashyboy]

I have a feeling after tonight's panorama programme this will really kick off.
The papers were originally released to contacts in Germany who passed them on worldwide inc Panorama. Would think that tonight's programme could be a bit bespoke to dodgy going on within Britain. It could well be squeaky bum time for a few people, and as we speak a few phone calls may well be taking place.

 

[Wildrover]

As long as no laws have been broken I don't have a problem with it, I'd do it if I had that kind of money. I pay my share of tax but if there was a scheme that saved me money and was legal, sign me up. Makes me laugh when people get on their high horse about companies like Starbucks avoiding tax. If they aren't breaking the law, just working the system, then it's the system that needs fixing, they aren't running a charity.

 

[Deleted member 16999]

As long as no laws have been broken I don't have a problem with it, I'd do it if I had that kind of money. I pay my share of tax but if there was a scheme that saved me money and was legal, sign me up. Makes me laugh when people get on their high horse about companies like Starbucks avoiding tax. If they aren't breaking the law, just working the system, then it's the system that needs fixing, they aren't running a charity.

Surely there's a line between greed and fairness though?
If the people running the system are the same ones using it, not likely to get fixed is it!

 

[Wildrover]

I would reduce the taxes for the super rich. It's better imho to tax them say 10% of their massive fortunes than 40-60% so they go elsewhere. 10% of millions/billions is better than 40% of nothing. Indeed more rich people would come here and we end up with a lot more tax revenue. Alas the PC brigade and Comrade Corbyn won't have any common sense like that. Similar to the link below.

http://www.ijreview.com/2014/05/138011-tax-system-explained-beer-2/

 

[Tashyboy]

I would reduce the taxes for the super rich. It's better imho to tax them say 10% of their massive fortunes than 40-60% so they go elsewhere. 10% of millions/billions is better than 40% of nothing. Indeed more rich people would come here and we end up with a lot more tax revenue. Alas the PC brigade and Comrade Corbyn won't have any common sense like that. Similar to the link below.

http://www.ijreview.com/2014/05/138011-tax-system-explained-beer-2/

As much as the good Homer in my head agrees with what you say. Bad Homer is shouting louder that these people would sooner not pay 1% never mind 10%

 

[SocketRocket]

That is an intentionally pig-headed comment. You know well that an ISA, whatever the pitiful interest rate, is not a means of tax avoidance. Nor is having a personal allowance, or putting money into a pension. They don't morally stink, although as good value investments they are pretty rubbish.

As for the 'all in it together', it was clear that that is a line intended to make the peasants believe the wealthy, who benefitted from the economic boom and caused the inevitable economic crash, were paying their share. It is obvious they are not, and are in many cases benefitting even more from the so-called austerity.

It is also brass necked of Gideon to make sanctimonious comments about Google or Starbucks avoiding tax when his family company, from which he benefits, pays no corporation tax on its profits due to offshoring. He is a lying hypocrite. And the media support the line, because the big media companies, including the Daily Mail, are all offshored too.

It is amazing how often gullible people vote against their economic interests. The Tories have never ever cared about working people. They despise the gullible peasants and only care about their own political class.

Good rant Comrade! Lets despise the wealth creators, close down their sweat houses, put them away in Gulags so that they cannot employ anyone, nationalise the industries and create a single Socialist State with Jezza as El Magnificento . That's a new concept that will create a fresh new era.

Wait a minute

 

[bluewolf]

Good rant Comrade! Lets despise the wealth creators, close down their sweat houses, put them away in Gulags so that they cannot employ anyone, nationalise the industries and create a single Socialist State with Jezza as El Magnificento . That's a new concept that will create a fresh new era.Wait a minute

Fair enough (although you appear to have Socialism and Communism mixed up), but we shouldn't fall at the feet of the "Wealth Creators" either. We don't have to accept the dodgy practices, scams and hidden deals, just to pander to a group who appear to find themselves above the law.

 

[Foxholer]

Interesting to see Dave Cameron's father has been a user of the Law Firm involved's services - presumably for avoidance (as opposed to evasion) of UK tax! I wonder how much criticism there will be for that! Especially from the likes of the Daily Mail (Wail?) whose owner is a non-dom - thus avoids UK Tax!

@Socket Perhaps these 2 links would refresh your memory , though I'm inclined to think it doesn't need refreshing!

http://www.diffen.com/difference/Communism_vs_Socialism

http://www.diffen.com/difference/Capitalism_vs_Socialism

Seems to me UK (like most countries) is a fairly well balanced mix of Capitalism and Socialism with both Labour and Tory governments instigating policies that would naturally sit in the opposite party's camp! Communism - as defined - doesn't get a sniff!

 

[SwingsitlikeHogan]

'All in it together' doesn't mean we are all poor. Offshore business is nothing new and is not illegal as long as it's not money laundering. Many very rich people around the world put their money away for many reasons and not all illegal.

All in it together means the poor are all in it together. The poor lose a little but it can mean a lot. The better off might lose a little more than a little - but it still makes very little difference to them. The wealthy hide their money somewhere else and so lose zilch. So please let's not pretend that we are all in it together - and where we are is where the bankers put us - and most of them are in the 'losing zilch' category. Sweet.

 

[SwingsitlikeHogan]

Surely there's a line between greed and fairness though?
If the people running the system are the same ones using it, not likely to get fixed is it!

And spiritually and ethically there is a very big difference between doing what you can and want to do - and doing what is right to do. As an individual even if I don't always want to do what is right, and that what is best for me may not be what is right, I try and always do the former. Many wealthy individuals and tax avoiding companies don't seem to particularly care about doing what is right - they just do what they want and what they can do - as long as it is to their own pecuniary benefit.

 

[Del_Boy]

That is an intentionally pig-headed comment. You know well that an ISA, whatever the pitiful interest rate, is not a means of tax avoidance. Nor is having a personal allowance, or putting money into a pension. They don't morally stink, although as good value investments they are pretty rubbish.

As for the 'all in it together', it was clear that that is a line intended to make the peasants believe the wealthy, who benefitted from the economic boom and caused the inevitable economic crash, were paying their share. It is obvious they are not, and are in many cases benefitting even more from the so-called austerity.

It is also brass necked of Gideon to make sanctimonious comments about Google or Starbucks avoiding tax when his family company, from which he benefits, pays no corporation tax on its profits due to offshoring. He is a lying hypocrite. And the media support the line, because the big media companies, including the Daily Mail, are all offshored too.

It is amazing how often gullible people vote against their economic interests. The Tories have never ever cared about working people. They despise the gullible peasants and only care about their own political class.

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