Tax Dodge 2016

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SoVi3t
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Tax Dodge 2016

Post by SoVi3t » Mon Apr 04, 2016 6:49 am

http://www.vox.com/2016/4/3/11356326/panama-papers" onclick="window.open(this.href);return false;

https://www.reddit.com/r/OutOfTheLoop/c ... on/d1okaxn" onclick="window.open(this.href);return false;
TL;DR Big names in business, politics, and sports used fake companies to evade trillions of dollars worth in tax money, plus aid in the cover-up of war crimes, human trafficking, and more.




In business, you can avoid taxes by investing in something. If a company makes one million dollars, but spends 500,000 on investing in new technology for their product or something like that, they're only taxed from the remaining 500,000 because that's all of their "profit." (I'm not a businessman so I'm not sure on the complete legality of all the kinds of spending but I think this is a basic summary). This is all normal and fine; all companies require investing in order to grow their company.

So a company in Panama basically made a business in creating fake businesses. Companies could "invest" million of dollars and then it wouldn't be taxed, because according to legal documents it isn't profit, it's an "investment," which is untaxable, and then they would get their money back from the fake business. So imagine if that $500,000 of investments from my above example was fake, and after awhile 90% of the money was given back to the business (I'm assuming the Panamian company took a cut of the money as payment). 2.6 TB of data in total, over 11 million documents and over 200,000 fake companies. According to the website that published the news of the leak, they were contacted by an anonymous source with encrypted files with the data sometime in 2015.

Here's an exerpt from the article:
Over a year ago, an anonymous source contacted the Süddeutsche Zeitung (SZ) and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell firms enable their owners to cover up their business dealings, no matter how shady.

Apparently there's several trillion dollars of money that should've been taxed and wasnt. Not sure if that means trillions that should've been taxed off of, or trillions of dollars of straight tax money, but either way it's a LOT.
Many political leaders (many seem to be in the Middle East), and celebrities are involved as well. To prevent any one person from being blamed for the leak, hundreds of news organizations are going to release further full details tonight (that's what Ive heard, not sure how true it is) but the list apparently has thousands of people/companies on it. There's 11 million documents though, and even though hundreds of journalists have been going through the data for months, there's still information that has yet to come to light.
So it sounds like a lot of people are about to be royally fucked over for not paying taxes. Poor people struggling to survive, and you got several TRILLION dollars being hidden overseas?

So maybe it's time we start to actually review our current tax laws, cuz somebody ain't fulfilling their end of the bargain.
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Re: Tax Dodge 2016

Post by SoVi3t » Mon Apr 04, 2016 6:59 am

What's even funnier, is none of the American news organizations are willing to touch this. ABC, MSNBC, CNN, Fox, everybody is silent about this right now.

Ed Snowden: Biggest leak in the history of data journalism just went live, and it's about corruption.

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Re: Tax Dodge 2016

Post by SoVi3t » Mon Apr 04, 2016 7:07 am

Well, Iceland is fucked, Russia might be next:

http://www.theguardian.com/news/2016/ap ... n-offshore" onclick="window.open(this.href);return false;

dude's got 2 billion hidden away....
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Re: Tax Dodge 2016

Post by PhreakyMex » Mon Apr 04, 2016 2:55 pm

SoVi3t wrote:What's even funnier, is none of the American news organizations are willing to touch this. ABC, MSNBC, CNN, Fox, everybody is silent about this right now.

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This is not surprising as more than likely Murdoch and the heads of CNN and all the other fucking networks have their names or are involved in this somehow
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Re: Tax Dodge 2016

Post by die » Mon Apr 04, 2016 3:43 pm

So this is like The Fappening for business men.
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Re: Tax Dodge 2016

Post by PhreakyMex » Mon Apr 04, 2016 4:03 pm

good analogy there...
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Re: Tax Dodge 2016

Post by SoVi3t » Mon Apr 04, 2016 5:35 pm

People are trying to blame Obama for this, which is funny since the documents being leaked go back to the 70's.

The scariest part of this, is it's just a leak from ONE firm located in ONE tax haven. This place was only #4 on the list, and was handling middle eastern terrorists, the president of Russia and China, and tons more. What about the top 3?
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Re: Tax Dodge 2016

Post by SoVi3t » Mon Apr 04, 2016 6:10 pm

http://www.thestar.com/news/world/2016/ ... orted.html" onclick="window.open(this.href);return false;


Reporters are being refused access to the island.
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Re: Tax Dodge 2016

Post by SoVi3t » Mon Apr 04, 2016 7:00 pm

Are all these crazy numbers and words confusing you? Wish you had professional wrestler Hillybilly Jim to explain this situation to you, in down to earth terms? Well look no further!


Last edited by SoVi3t on Mon Apr 04, 2016 7:22 pm, edited 1 time in total.
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Re: Tax Dodge 2016

Post by die » Mon Apr 04, 2016 7:08 pm

SoVi3t wrote:People are trying to blame Obama for this
not on this forum lololololol.
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Re: Tax Dodge 2016

Post by SoVi3t » Mon Apr 04, 2016 7:25 pm

die wrote:
SoVi3t wrote:People are trying to blame Obama for this
not on this forum lololololol.
Give them time.

Well, he did make damn sure the Panama-America Trade Agreement went through, even when the Senate and most logical people stated it would just make it easier for rich people to hide money, which it in fact did:

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live footage of Iceland probably about to lynch their Prime Minister after he ironically says "It's not like the entire country is outside protesting":

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Re: Tax Dodge 2016

Post by SoVi3t » Mon Apr 04, 2016 9:54 pm

I like games:

http://www.thestar.com/news/world/2016/ ... -game.html" onclick="window.open(this.href);return false;
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Re: Tax Dodge 2016

Post by RobotJerk » Mon Apr 04, 2016 11:47 pm

NBC had a story on the evening news broadcast, but it focused on Vladimir Putin's hidden wealth instead of...well, everything else.
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Re: Tax Dodge 2016

Post by Quadriceps » Tue Apr 05, 2016 1:34 am

T minus four days until Hil-dogg and Drumpf turn up in this.
HEY YOU, PIKACHU
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Re: Tax Dodge 2016

Post by RobotJerk » Tue Apr 05, 2016 2:36 am

Trump's supporters won't care.
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