The Panama Papers expose what we all knew


“The documents [Panama Papers] show the myriad ways in which the rich can exploit secretive offshore tax regimes. Twelve national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.” []


The rich don’t pay the tax they should;

They hide their loot offshore.

They care not for the common good;

For their good they care more.


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  • It isn't just that. Putin and Assad (and others, such as the Ukrainian President, and Saudi King) were exposed (apparently through indirect involvement), and since it is good to be king, they weren't evading any taxes. Despite their countries being in the economic dumpster, they wanted a stash in case they were forced out of the country.

  • Evasion of a potential tax?

  • In reply to Aquinas wired:

    I don't think they shared Allergan's motivation. They (especially Assad) are more concerned with the beheading device.

  • It's hard to tell if these people violated any laws or not. The ones reported probably broke no American law, but the laws of their own countries may be different. And, as the PM of Iceland discovered, these disclosures may cause political difficulties, even if not a crime.

  • In reply to jnorto:

    The source I had read referred to "suspected cases of money laundering, sanctions evasion and tax avoidance," but whether they are crimes would depend on where the acts occurred. The emphasis seems more on the apparent corruption, and as I indicated above, squirreling away assets. Iceland's PM was forced to step down, but apparently as a result of political pressure.

  • In reply to jnorto:

    This article is more in point to your post:
    What the fallout could be: Laws vary by country, and it remains to be seen whether any international conventions were violated or the money could be seized. But the political fallout has already begun.

  • In reply to jack:

    and I messed up the link.

  • In reply to jack:

    Thank you. Yes, whether it is a crime may depend on where the acts occurred. But many countries, the U.S. included, claim citizenship criminal jurisdiction as well as territorial jurisdiction. For example, an American who goes to another country to engage in child sexual offenses may be guilty of a federal crime, even though all acts occur in a foreign country.

  • In reply to jnorto:

    Could be, but the vast majority cited in the articles were not U.S. citizens. However the articles listed only a few of those involved, so certainly any U.S. citizen who engaged in money laundering or tax evasion would be subject to U.S. laws, as would anyone over which the U.S. could gain jurisdiction or extradition if the crime had an effect here. Sort of like the DoJ indicting computer hackers based off shore, although most articles say there is no way of arresting them.

  • In reply to jack:

    I agree, a majority were not U.S. citizens. My point was that many countries claim citizenship jurisdiction. The individuals disclosed may be subject to this jurisdiction in their home countries wherever the crime was committed.

  • In reply to jnorto:

    Why few Americans in Panama Papers? Lawyer doesn't want them, which, while I'm sure Treasury will still investigate it, your point is essentially moot.

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