Unfortunately, all citizens have to pay taxes. We all need to pay our fair share. Nobody looks forward to it. It isn’t easy or fun – but it’s important in society that we contribute to our streets, roads, first respondents, and contribute to education.
In this world nothing can be said to be certain, except death and taxes – Benjamin Franklin.
Today it was recently discovered that a global investigation has been started on Mossack Fonseca – the world’s fourth-largest offshore company provider. The Panama Papers, a hoard of 11.5m documents, show how long this activity has been occurring.
There was a massive leak of documents recently discovered, that for the first time, how active this bank was helping wealthy and powerful leaders cheat our system. They assisted in helping individuals to do everything in their power, both legal and illegal, to avoid paying taxes.
We rarely report illegal events, but as the USA tax due day slowly closes in, we feel our duty as Patriots to point out this disgrace of cheating our country and the world.
We are about America, and as much as I question the practices of the IRS, this discovery of documents paints an ugly picture of pure fraud on many levels.
The documents reveal the bank is a mill of offshore tax evasion, and tax havens. Data from the World Bank, IMF, UN, and central banks, show cash hidden between $21 and $32 trillion, where registered incorporation agents and law firms operate in small Caribbean countries.
They make the laundering of money and the “disappearance” of the wealthy, into untraceable numbers hidden behind shell companies, possible. The list ICIJ revealed 100,000 HSBC clients who had been dutifully avoiding the payment of taxes.
Thirty Two Trillion Dollars of Fraud. Unbelievable. These are immense numbers and it shows that the tax code needs to be corrected and enforced. Sadly, a better system is desperately needed to be put in it’s place. If you steal 32 trillion dollars – you are stealing from the world. Everything goes up when this injustice is done including inflation, devaluation of currency, and core corruption.
I believe taxes should be lowered, even for the rich. But when people cheat – it ruins this concept, and taxes are forced to rise.
We can only hope this will be prosecuted and I would also point out the huge amount of world leaders involved in this. Shocking to thenumber28.
The tax code needs to be over-hulled, simplified, and enforced.