It is a bit strange that neither Panama papers (if I remember well) nor Pandora papers have any US politicians involved. Makes you wonder who produces these papers.
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Many factors not just low tax rate. The IRS has more power over global banking system than all other countries combined. A lot of foreign banks won’t even upon accounts for US citizens.
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ironic, because the IRS has been completely defanged when it comes to going after the very wealthy
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In brief, equity rather than income is the typical US path to extreme wealth.
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That excerpt continues: “… offshore havens. But their absence from the files also may mean that very wealthy Americans turn to different offshore jurisdictions — including the Cayman Islands — and different companies than those represented in the Pandora documents.”
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If you let them live like kings and dominate us, they won't take their toys outside the kingdom.
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But do these explanations really work? The Pandora papers draw from many more sources than the Panama Papers. And it's not like it's just tax stuff but also things like conflicts of interest. Some of the Pandora Papers even cover the US as a haven. Where are the Americans?
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there was also less incentive for serbian elite to go off-shore. from mid 2010s they are buying in country.
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