Check out the Paradise Papers. Interesting list of the tax havens of the priveleged

Discussion in 'Latest News' started by scratcho, Nov 8, 2017.

  1. Irminsul

    Irminsul Valkyrie

    when people can't look after their own money, so they attack people who do. lol.
     
  2. stormountainman

    stormountainman Soy Un Truckero

    I want everyone here to know that these ultra-rich invaders who have taken over the Republican Party and want to pay less taxes are now presenting a tax reform plan which takes away tax deductions for student loans. Student loans are already too hard to pay back as it is. This new tax system by the Republicans who park their wealth in other countries and refuse to pay taxes in America is going to be rigged to keep the young college graduates from achievement. Remember, Donald Trump has not released his own taxes. Some say he hasn't paid anything in since 1977.
     
  3. Piney

    Piney Lifetime Supporter

    All of America is a tax haven for the rich. With 900sf. kitchens with marble countertops, Sub zero refrigerators, $20,000 Viking ranges. Bosch dishwashers, all of it is write-off.

    Tracts full of 4500sf homes being built on Spec.with three car garages 5br, 3bth. All of it a write-off.

    Yeah, hit me with a higher tax rate you fool, with all of the write-off it will not matter.
     
  4. MeAgain

    MeAgain Dazed and Confused Staff Member

    Also they want to remove the $250.00 tax deduction teachers get for spending their own money on students.
    The rich need the money more .
     
    stormountainman likes this.
  5. stormountainman

    stormountainman Soy Un Truckero

    The rich think they are entitled to more wealth and the supremacy over us which comes along with the money and power.
     
  6. MikeE

    MikeE Hip Forums Supporter

    Actually, my take-away from the Paradice Papers is that the that-level-of-rich don't care about the tax code, it doesn't matter to them.

    The corporate vs. people tax rate matters to the corporations (who don't have the "mental capacity" to not care, they are "wired" to care about every dollar) and to the power hungry politicians who use fear of unemployment to gain power and the politicians who use resentment against the rich to gain power.
     
    stormountainman likes this.
  7. Piney

    Piney Lifetime Supporter

    The Rich want to write-off state income taxes on federal returns.
     
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  8. stormountainman

    stormountainman Soy Un Truckero

    The rich say taxes are for the little people. The rich can buy a building and claim depreciation for 18 years so they would not have to pay taxes. The average human does not have that privilege.
     
  9. Mountain Valley Wolf

    Mountain Valley Wolf Senior Member

    It is not as simple as that---some taxes should be no problem----such as real estate taxes. But the property could be held in an offshore trust, or owned by an offshore company. Certainly any income from the property (if it is an income property) could be funneled offshore, and depending on tax treaties between the US and the offshore tax haven, it is possible any capital gains could be largely discounted too. And it can be passed down through generation after generation without any inheritance tax.

    And that is not all---let's say that you got hurt on someone's multimillion dollar property and you went to the door to inform them. The family opens the door, and we all know that this property belongs to them. But the family tells you that they don't own the property, and are simply leasing it from an offshore trust or management company. Suddenly the idea of suing them, as it was their property, doesnt seem to be as feasible as it was a few minutes earlier.
     

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