Skip to main content

View Diary: Leak of Identities & Emails of Rich Hiding *$32 Trillion* Offshore (240 comments)

Comment Preferences

  •  The political realities as they are, and the money (0+ / 0-)

    squirreled away and permitted to be offshored tax-free, are part and parcel of the same equation.

    Any change in tax policy will be part of a larger change in budgeting priorities.  Voila!--- more money to the needy and infrastructure.

    That's one more thing to add to my long list of small problems. --my son, age 10

    by concernedamerican on Fri Apr 05, 2013 at 05:29:26 AM PDT

    [ Parent ]

    •  concernedamerican - it's not "permitted" (0+ / 0-)

      For US tax payers assets held anywhere in the world, including in tax havens, are subject to exactly the same income taxes as assets held in the US. There is nothing illegal about holding assets in the BVI, or any other tax haven, as long as those assets are disclosed to the IRS and taxes paid on the income. Holding assets in tax havens with the intent to escape taxation is a federal crime. It is not "permitted".

      "let's talk about that"

      by VClib on Fri Apr 05, 2013 at 08:11:22 AM PDT

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site