The Pandora Papers: It will be a bad week for international tax cheats

[Music Lover]

Quote:

Originally Posted by marko Last week's 'bombshell' revelation was that Mr. Putin has put up his ex-girlfriend in a $4MM condo in Monaco. And........? I doubt he's losing sleep on that one.

What should be the real bombshells are the career politicians with $20 and $50 million (and higher) net worths instead of what some despot across the ocean does. It's no surprise Putin is rich, that's not even newsworthy.

[kcowan]

The problem is we can't name them on this forum.

[Music Lover]

Quote:

Originally Posted by kcowan The problem is we can't name them on this forum.

We can't. But the media could (and should) name them. But they choose not to...and that's not by accident.

[Markola]

I guess I have less of an issue with that, as long as the earnings were legal. Speakers fees and corporate board stock options add up for a retired president, who might know zippo about business but are valuable to a company, because they can literally get anyone on the planet to return their call. It’s those who hide it from the countries they led that bother me. David Cameron was one.

[Out-to-Lunch]

Quote:

Originally Posted by Music Lover What should be the real bombshells are the career politicians with $20 and $50 million (and higher) net worths instead of what some despot across the ocean does. It's no surprise Putin is rich, that's not even newsworthy.

Quote:

Originally Posted by kcowan The problem is we can't name them on this forum.

Quote:

Originally Posted by Music Lover We can't. But the media could (and should) name them. But they choose not to...and that's not by accident.

Wait, so what is this supposed to tell me? That you three have read through the Pandora Papers, and have identified multiple politicians (US?) with high net worth that have been implicated, but these names are not being publicized in the mainstream media? Is that what you are saying?

[SecondAttempt]

Interesting that after the announcement that this would be a bombshell week...nothing.

[HarveyS]

Quote:

Originally Posted by Scrapr That reminds me. Isn't South Dakota the state RV'rs like to register residency to avoid sales tax on the purchase of $$$ RV's? Trickle down tax avoidance?

Incorrect. SD has a sales tax of 4%, including vehicles.

[HarveyS]

Quote:

Originally Posted by jollystomper Isn't South Dakota also one of the easiest states to establish legal residency in, and (in theory) avoid taxes in the state one actually lives in? Hmmmm...

Part one (residency), correct.
Part two, (avoid tax where you actually live), incorrect. States are very aggressive about tracking those taxpayers who change residency. You are guilty until proven innocent during a residency audit if you leave some states. See for example ]https://www.marketwatch.com/story/if-youre-moving-to-a-state-with-lower-taxes-move-carefully-2019-09-27[/URL]

[Music Lover]

Quote:

Originally Posted by Out-to-Lunch Wait, so what is this supposed to tell me? That you three have read through the Pandora Papers, and have identified multiple politicians (US?) with high net worth that have been implicated, but these names are not being publicized in the mainstream media? Is that what you are saying?

I don't know if any are in the Pandora Papers. I do know that the media has never been interested in how they acquired so much wealth. But yet they determine that Putin putting his girlfriend in an expensive apartment is more newsworthy? Lol.

[Markola]

Quote:

Originally Posted by SecondAttempt Interesting that after the announcement that this would be a bombshell week...nothing.

You are uninformed. Ask the King of Jordan, the presidents of Kenya, Ecuador and Chile. And there is new US legislation being introduced. https://thehill.com/policy/finance/5...leaders-secret

The Czech prime minister was caught just before an election, causing his party his party to lose elections they’d seemed certain to win. https://www.archyde.com/pandora-pape...nski-politics/

The Chilean President is facing impeachment. https://news.yahoo.com/chiles-pinera...125939305.html

Fallout is happening publicly and quietly all over the world, both from wrongdoing and the perception of wrongdoing. This smelly, complex stuff takes years to unravel and prosecute, so this evidence will be added to the dozens of other previous leaks, and new ones for authorities to sort out. These repeated, frequent data leaks are the only check that voters, journalists and tax authorities have on audit-proof tycoons and outright kleptocrats, so maybe they will start to think twice before going offshore, or at least sleep uneasily if they have.

[Koolau]

Quote:

Originally Posted by SecondAttempt Interesting that after the announcement that this would be a bombshell week...nothing.

Can't comment on the current use of the term "bombshell" but it certainly has been overused in the past few years. In most of those cases, it truly was...nothing. YMMV

[USGrant1962]

Quote:

Originally Posted by Koolau Can't comment on the current use of the term "bombshell" but it certainly has been overused in the past few years. In most of those cases, it truly was...nothing. YMMV

+1

The term has become meaningless. Or rather, it usually means someone hopes a report that aligns with their politics creates discomfort in the other side.

[Out-to-Lunch]

Quote:

Originally Posted by Music Lover I don't know if any are in the Pandora Papers. I do know that the media has never been interested in how they acquired so much wealth. But yet they determine that Putin putting his girlfriend in an expensive apartment is more newsworthy? Lol.

I apologize: I had the impression that your initial comments referred to the Pandora Papers in particular. I didn't realize that your target was simply politicians who are rich.

[Winemaker]

Quote:

Originally Posted by USGrant1962 +1 The term has become meaningless. Or rather, it usually means someone hopes a report that aligns with their politics creates discomfort in the other side.

+1

[ERObjd]

My brother lives in SD and works in Sioux falls for a small state, rent and housing is high given the low wages that most people make in the state. granted licence fees for vehicles is dirt cheap,but living there has few benefits and winters are very harsh and summers are as well. He is looking to get out and move to Boise ID. He makes just over 100K in computer security/programming. As far as pandora box goes even criminals have to store their $$$$ someplace so SD is as good as any. no one ever really thinks about the place it is so under the radar.