Panama Papers consequences?

[GP0S3Y]

Does anyone else see the potential for the Panama Papers to result in harsh, potentially extraterritorial legislation, that affects retirees?

Previously, a leak provided the political motive / excuse to come up with FATCA. This ended up having negative effects on 6 million expats. Many of which are retirees trying to reduce COL.

 

[youbet]

I'm hoping it leads to legislation that expands the use of asset testing (such as used for Medicaid LTC) to determine eligibility for welfare and subsidies. A person with an income of $15k/yr and no assets is different from a person with $15k/yr income and a million bux portfolio.


We need to keep rooting out "haves" from getting benefits intended for "have nots." Perhaps our oh-so-fine media investigators can get on that subject next?

 

[Senator]

Nothing will change, except it will be even more secret. These are not the common man, these people are the elites.

No laws will be passed that affects them, although it may affect the common man.

 

[NYEXPAT]

Offshore corporations can be set up for $1500,

 

[marko]

Nothing will change, except it will be even more secret. These are not the common man, these people are the elites.

No laws will be passed that affects them, although it may affect the common man.

+1 +1 +1
I laugh every time someone talks about "going after the rich...gonna make 'em pay!".

Sounds good and feels good but the super wealthy have far, far more options to stay ahead of the game.

 

[marko]

I'm hoping it leads to legislation that expands the use of asset testing (such as used for Medicaid LTC) to determine eligibility for welfare and subsidies. A person with an income of $15k/yr and no assets is different from a person with $15k/yr income and a million bux portfolio.


We need to keep rooting out "haves" from getting benefits intended for "have nots." Perhaps our oh-so-fine media investigators can get on that subject next?

Good luck with that. Here in Mass they advertise on TV and radio about "elder law and asset management"...what do you think that means? It's a whole industry!

Still, I don't see the connection to Medicaid LTC and the Panama Papers; seems like an entirely different level of financial strategy. This forum alone has perhaps two dozen threads on how to play the ACA subsidies.

 

[MichaelB]

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