Photo courtesy of 401kcalculator.org
If you live in the US, you are bound to come across countless individuals who just can’t stop complaining about taxes. “We’re taxed too much,” they say. “They practically take my whole pay check!” they cry. “Why should I have to pay more taxes just because I make more?” they whine.
“Taxation without representation is tyranny.”
– James Otis (1725-1783)
Looking to find out if a particular world politician or transnational corporation, a particular business tycoon or Hollywood icon, or your local drug smuggler is using a tax haven? Perhaps you just have a hunch about a person, or persons, or company – that they are probably using a secretive tax scheme to hide money from their government to avoid paying their share of taxes.
Now you have an internet website with a tax haven database to search/check for yourself.
The International Consortium of Investigative Journalists (icij.org) has established a place for any man or woman in the world to go for information on tax havens, where users are able to search by nation, corporation, or individual. This is an historic accomplishment that holds out great promise for the people of the world. Why? Because, as ICIJ’s Gerald Rye points out in the…
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It’s about time! Many wealthy people hate Pres. Obama for even considering tax increases for the very rich, yet many of the very rich don’t actually pay taxes!! They hide their wealth in foreign banks where U.S. law can’t find it. The tax burden is left to the rest of us.
Now Swiss banks, who are very often the entities that make it easy for the rich to dodge taxes, are cooperating with the U.S. government in trying to end the practice. The question is whether the Swiss and U.S. governments are really serious about forcing these people to start paying taxes. It’s not easy going after any rich person, especially with all the legal resources they have at their beck and call.
Here’s the story from youngprogressivevoices.com:
“Domestically, this is absolutely fantastic news. As the New York Times reports, ‘Banks will be required to provide the details on accounts in which American taxpayers have an interest through treaty channels, inform on other banks that transferred money into secret accounts or that accepted money when secret accounts were closed, disclose all cross-border activities, and close the accounts of Americans who are evading taxes.’ That will mean that it will be that much more difficult for the 1 percent to pay less than their share in taxes. When tax evasion is allowed, it causes the system to become regressive, forcing the middle class to pick up the tab.”
For more, go to youngprogressivevoices.com.
Reposted from Addicting Info.
Apple, the most profitable company of its kind in the United States, has been dodging taxes in a somewhat interesting way — by declaring subsidiary companies that are “stateless” and saying that they don’t have to pay taxes to any country. While their scheme is, in actuality, much more complicated than that, it demonstrates the basic premise of their tax avoidance setup — gall.
And in cheating both the United States and other nations this way, Apple has profited by billions. Nelson D. Schwartz and Charles Duhigg of The New York Times report,
The investigation is expected to set up a potentially explosive confrontation between a bipartisan group of lawmakers and Timothy D. Cook, Apple’s chief executive, at a public hearing on Tuesday.
Congressional investigators found that some of Apple’s subsidiaries had no employees and were largely run by top officials from the company’s…
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Illuminate 