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'Pandora Papers' expose leaders' offshore millions

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By Thomas URBAIN

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In the US ,you still lose money ,you pay property taxes,that can be about 2.5 percentage of property value

-6 ( +1 / -7 )

You just gotta love journalists!

7 ( +9 / -2 )

How is this even news? “Rich, powerful people in dodgy property deals! Read all about it!”.

-2 ( +4 / -6 )

How the rich avoid their taxes.

7 ( +9 / -2 )

The emperors have no clothes. Their systemic institutional cheating, misappropriation of funds, and self enrichment is laid bare for all of us to see. Burn it all down, build back better.

I am all for transparency but the Pandora papers did the Panama papers.

9 ( +10 / -1 )

Things will never change as long as the people making the rules and their friends are the ones involved in corruption.

7 ( +7 / -0 )

More than a dozen heads of state and government, from Jordan to Azerbaijan, Kenya and the Czech Republic, have used offshore tax havens to hide assets worth hundreds of millions of dollars, according to a far-reaching new investigation by the ICIJ media consortium.

Abe, other LDP heads and heads of major Japanese corporations were also in the previous "Panama Papers".

It is not benefits for the poor which are draining the working middle class, it is supporting the non-tax paying ultra-wealthy and corporations.

As Trump contemporary Leona Helmsley commented "Paying taxes is for the little people".

5 ( +7 / -2 )

syzyguyToday  07:52 am JST

the ICIJ is funded by George Soros' Open Society 

https://www.icij.org/about/our-supporters/

if the mass media is reporting it then whoever is being exposed is only a sacrificial pawn to distract from something else much bigger and more important... perhaps the McAfee Papers.

Do tell us more about this conspiracy.

5 ( +8 / -3 )

Vladimir Putin is not directly named in the files, but he is linked via associates to secret assets in Monaco, notably a waterfront home acquired by a Russian woman believed to have had a child with the Russian leader, The Washington Post reports.

I’d have been surprised if Putin’s name wasn’t there.

Thr most corrupt living despot in the world today!!!

4 ( +5 / -1 )

the ICIJ is funded by George Soros' Open Society

There are many supporters, including Meryl Streep

The open society foundations work to build vibrant and inclusive democracies whose governments are accountable to their citizens.

https://www.opensocietyfoundations.org

2 ( +3 / -1 )

 Vladimir Putin is not directly named in the files

Putin of course is ex-KGB, with and heads a nation where he controls information while limiting the roles of media and investigative journalism, making it next to impossible for the general public to learn much about what he does with his fortunes got from controlling Russian oil and gas and other industries. Putin's supporters in Russia and other far rightists around the globe scream "Can't prove it" whenever their hero is even questioned, usually followed by "the 'west' is worse", the latter probably true, but at least in many places in the 'west' the general public has some abilities to learn truths about how their leaders got their wealth. (see ongoing investigations into another of the global far right's heroes, former US president Trump.

2 ( +4 / -2 )

The Russian president, Vladimir Putin, whom the US suspects of having a secret fortune, does not appear in the files by name. But numerous close associates do, including his best friend from childhood – the late Petr Kolbin – whom critics have called a “wallet” for Putin’s own wealth, and a woman the Russian leader was allegedly once romantically involved with. None responded to invitations to comment.

Putin’s best friend, a retired school teacher, one who still leads a modest life appears on the list.

Wonder who he is fronting for????

3 ( +4 / -1 )

Again we are to feel outraged ,but nothing will happen again

0 ( +1 / -1 )

the ICIJ is funded by George Soros' Open Society

https://www.icij.org/about/our-supporters/

if the mass media is reporting it then whoever is being exposed is only a sacrificial pawn to distract from something else much bigger and more important... perhaps the McAfee Papers.

"WE'RE BREAKING THE CONDITIONING, RAAAAAAAAAAAAAAAAAAGH!!!!"

-1 ( +1 / -2 )

When Pandora opened her box, she let out all the evils into the world and, after quickly closing it shut, only hope remained, which is all we've got to see justice done, the monies returned to national coffers and the corrupt, criminal politicians incarcerated. Oops, I forgot: when Panama opened the box, hope escaped, too. Pity the poor parents and teachers of the world who must tell their children fairy tales about the "goodness" of today's world of impunity for the rich and powerful. History teachers, of course, have no need to change their lessons.

1 ( +2 / -1 )

Any word in there how much money Winnie the Pooh has stashed away offshore?

1 ( +3 / -2 )

In the US ,you still lose money ,you pay property taxes,that can be about 2.5 percentage of property value

In California it is 1% of assessed value. However due to Proposition 13, the assessed value cannot rise more than 2% per year regardless of the properties market value. The longer you hold a property, the lower your effective tax rate is, meaning property tax as a percent of market value. The assessed value of my home is considerably less than its market value and every year the difference grows. The average property tax burden is therefore about 0.7% of market value, the lowest in the US and might explain why so many Chinese, Russians and Indians come to certain communities in California to buy homes with cash. You can also pass your home to your kids when you die and not incur a reassessment as would happen if you sold it. That is a huge benefit for heirs.

2 ( +3 / -1 )

Pandora's Box will have many world leaders having to explain to their citizens about their offshore hidings.

2 ( +3 / -1 )

At the accelerated rate things are going in the US, the mega-rich will do the same. They will hide and diversify whatever wealth they have and can in order stop the greedy State from getting their assents. Can’t blame them really.

-6 ( +1 / -7 )

King and Queens and now President and PM's , stealing from the poor to keep their hungry appetite fed.

If these so called "leaders" stop stealing and robbing their own people then their may be enough to go around and feed the homeless, the hungry and cold in their own nations, the very same people who got them to were they are.

1 ( +2 / -1 )

America needs a wealth tax and an increase in capital gains. During the pandemic, the gap between the poor and the rich increased tenfold. The rich need to pay their fair share. Both Obama and Warren Buffett have stated they should be paying more tax. Warren Buffett pays less tax than his secretary. Like Trump, I suppose who paid only $750 in 2017.

5 ( +7 / -2 )

America needs a wealth tax

No, we don’t.

-6 ( +1 / -7 )

Which US states have the most trusts in the Pandora Papers?

The investigation shows how U.S. trusts have become a go-to vehicle for financial secrecy.

South Dakota 81

Florida 37

Delaware 35

Texas 24

Nevada 14

https://www.icij.org/investigations/pandora-papers/about-pandora-papers-leak-dataset/

2 ( +3 / -1 )

that sure is a lot for a small state like Delaware.

Do we know anyone who lives in Delaware?

-4 ( +1 / -5 )

that sure is a lot for a small state like Delaware.

But a lot less than South Dakota. A lot less. I'm sure it has nothing to do with the fact that more than 60% of US fortunate 500 companies are headquartered there, and 75% of all new IPOs are domiciled there as well. It's got to be something else.

Do we know anyone who lives in Delaware?

This is a Joe Biden reference, isn't it? What are you suggesting here?

2 ( +3 / -1 )

ICIJ matched Forbes’s billionaire's lists against the Pandora Papers to find more than 130 who had entities in secrecy jurisdictions. More than 100 of them had a combined fortune valued at more than $600 billion in 2021.

2 ( +2 / -0 )

At the accelerated rate things are going in the US, the mega-rich will do the same. They will hide and diversify whatever wealth they have and can in order stop the greedy State from getting their assents. Can’t blame them really.

The rich are already hiding their wealth to avoid paying a fair share of taxes.

3 ( +3 / -0 )

Pandora's Box will have many world leaders having to explain to their citizens about their offshore hidings.

But they won't lose any sleep over Pandora if that's all they have to do, and they'll continue to sip their champagne in the shade of a palm tree in a sunny clime knowing they'll still be able to "live happily ever after".

1 ( +2 / -1 )

I guess this will result in tighter bank secrecy rules

1 ( +1 / -0 )

The rich are already hiding their wealth to avoid paying a fair share of taxes.

In the US, I Don’t blame them one bit.

-5 ( +0 / -5 )

Pakistan, Russia, Kenya, Azerbaijan, Ukraine......

Leaders fleecing their own countries seems to be common these days.

The only reason the former guy is not in the list is because he doesn't really have any money.

1 ( +1 / -0 )

Zichi,they still have to pay property taxes in the US to taxation district ,where the property is own regardless,it run about 2.5 percentage of property value annually,their is only exemption for religious organization

-2 ( +0 / -2 )

The rich are already hiding their wealth to avoid paying a fair share of taxes.

In the US, I Don’t blame them one bit.

You don’t think people should pay their fair share??

Like to elaborate?

America needs a wealth tax 

No, we don’t.

Why not? You think poor people should pay proportionally more?

 in order stop the greedy State from getting their assents. 

Maybe if the State didn’t spend such an obscene amount on ‘defense’ it wouldn’t need to be so greedy? You’ve commented in the past expressing your approval of the US’s massive expenditure on the military. Seems a very difficult circle to square.

4 ( +5 / -1 )

The rich and super-rich avoid paying their share of fair taxers by taking their monies at the lower rate of capital gains than income taxes paid by the less rich people.

2 ( +2 / -0 )

You don’t think people should pay their fair share??

Sure, within reason.

Like to elaborate?

On my income I pay about 25% I think that’s more than my fair share. I don’t believe in robbing Paul to give to Peter. Maybe The government should stop taxing people to the hilt, try and create better paying jobs stop outsourcing the jobs to foreign workers, make sure that American citizens come first create domestic wealth, make sure people start spending money to put it back into the economy, that’s just for starters. The government needs to start relying on rich people to build them out, because we can always move the money around and relocate and then what happens? The entire countries of the creek, the more you punish job creators, the more they will leave and they won’t leave fast enough, look at Detroit, look at California, without big tech California would be a Third World state, the same goes for New York and this is why Texas and Tennessee as well as Florida are growing and fast less restriction and less taxation, growing job opportunities.

Why not? You think poor people should pay proportionally more?

Do what Clinton did, re-institute the flat tax.

Maybe if the State didn’t spend such an obscene amount on ‘defense’

Sorry, maybe you like a strong China, I don’t, I want the best and most updated and modernized fighting force to deal with any adversary which in the end benefits us and our Allies.

-4 ( +0 / -4 )

America needs wealth and super wealth tax.

3 ( +3 / -0 )

Do what Clinton did, re-institute the flat tax.

Uh, that never happened.

2 ( +2 / -0 )

bass4funk

Like to elaborate?

On my income I pay about 25% I think that’s more than my fair share. I don’t believe in robbing Paul to give to Peter.

If you are paying income tax at 25%, then you are not part of the rich and super-rich. Those people don't pay income tax because their wealth is in capital and pay capital gains taxes at a lower rate. We also know too many of these people are hiding their wealth offshore.

If you are paying 24% then you are also not a top earner. $85,501 to $163,300. Top earners pay 37%, $518,401.

Maybe The government should stop taxing people to the hilt, try and create better paying jobs stop outsourcing the jobs to foreign workers, make sure that American citizens come first create domestic wealth, make sure people start spending money to put it back into the economy, that’s just for starters.

Trump stopped most of the B1 foreign workers.

The government needs to start relying on rich people to build them out, because we can always move the money around and relocate and then what happens? The entire countries of the creek, the more you punish job creators, the more they will leave and they won’t leave fast enough, look at Detroit, look at California, without big tech California would be a Third World state, the same goes for New York and this is why Texas and Tennessee as well as Florida are growing and fast less restriction and less taxation, growing job opportunities.

No, all people should just pay a fair share of taxes., including the rich and super-rich.

Why not? You think poor people should pay proportionally more?

Do what Clinton did, re-institute the flat tax.

Poor people per capita pay more tax than rich people.

Maybe if the State didn’t spend such an obscene amount on ‘defense’

Sorry, maybe you like a strong China, I don’t, I want the best and most updated and modernized fighting force to deal with any adversary which in the end benefits us and our Allies.

Like spending $6.5 trillion for a 20-year-war in Afghanistan which you lost.

The Pandora Papers once again reveals the deep corruption of the rich and powerful.

2 ( +2 / -0 )

Companies like Apple and Google should also be paying a fair share of taxes. They don't.

2 ( +3 / -1 )

Panama & Pandora and their predictable outcome of impunity for socially prominent criminals provide further proof, if any were needed, of the malaise rotting the foundations of capitalist society as well as further confirmation of John Stuart Mill's plain-spoken words in 1867 unmasking how corruption thrives when given the cover and protection of cowardice and its bedfellow, hypocrisy :

 “Let not any one pacify his conscience by the delusion that he can do no harm if he takes no part, and forms no opinion. Bad men need nothing more to compass their ends, than that good men should look on and do nothing. He is not a good man who, without a protest, allows wrong to be committed in his name, and with the means which he helps to supply, because he will not trouble himself to use his mind on the subject.”

These words we all know to be the unvarnished truth, but so do the evildoers, which enables them to blithely go about their bizness of self-enrichment while the rest of us eat cake, or whatever.

2 ( +2 / -0 )

The rich are already hiding their wealth to avoid paying a fair share of taxes.

In the US, I Don’t blame them one bit.

You don’t think people should pay their fair share??

Sure, within reason

Does not compute….you think people should pay their fair share, and you don’t blame the rich for avoiding paying their fair share?

I want the best and most updated and modernized fighting force to deal with any adversary

And how are you going to do that if people don’t pay their share share of taxes? Where does all that military budget come from?

re-institute the flat tax

You mean you do think the poor should pay proportionally more. How do you justify that, then?

3 ( +3 / -0 )

Pandora Papers' expose leaders' offshore millions

I give this story one day in the headlines, then you’ll never hear about again in the corporate MZM.

-2 ( +0 / -2 )

bass4funk

Do what Clinton did, re-institute the flat tax.

You want the poor to pay more and the rich less. The lowest tax bracket is 10%.

3 ( +3 / -0 )

What this reporting clearly shows is that what we knew all along about authoritarian dictators and tyrants - they kill a free and open press through oppression, then raid the economy to enrich themselves and their cronies...

And as we saw over the last four years of trillion dollar unfunded tax breaks for the Top 1%, MAGA-world and their supplicant Repub cronies are all charter members of this club....

3 ( +3 / -0 )

No, all people should just pay a fair share of taxes., including the rich and super-rich.

I do and how much is fair to the socialists? Lol

Poor people per capita pay more tax than rich people.

That wouldn’t be the case if liberal policies wouldn’t be in place to stop growth in job creation and training to help these people get off their feet into taking less government assistance, some thing that Bill Clinton was very good at might I add…for a liberal.

Like spending $6.5 trillion for a 20-year-war in Afghanistan which you lost.

Well not really lost, we should’ve kept a small residual presence there, but like the general said, in the end it was Biden‘s decision and not theirs.

The Pandora Papers once again reveals the deep corruption of the rich and powerful.

Try hitting up big tech for money, they hold over 70% of the wealth, maybe these rich liberals as kind and gracious as they are will give you some of their hard earned cash.

-6 ( +0 / -6 )

Does not compute….you think people should pay their fair share, and you don’t blame the rich for avoiding paying their fair share?

I just explained it

And how are you going to do that if people don’t pay their share share of taxes? Where does all that military budget come from?

Again people are paying More than enough in Texas not only that, you have a lot of private entities that are donating money, technology as well as ideas to help fund and rebuild our badly aging military hardware fleet. There are enough jobs out there that the people can do and work at in helping to rebuild the military, giving people entitlement so that they can sit home and collect the government check is not helping to stimulate the economy at all, the same goes for closing small businesses, that’s not helping the economy either, and another reason why with all this heavy taxation corporations are leaving and moving to Texas, Tennessee and Florida and who could blame them, this is why I love Texas, I don’t have to worry about the government trying to steal from me. ;D

-6 ( +0 / -6 )

bass4funk

No, all people should just pay a fair share of taxes., including the rich and super-rich.

I do and how much is fair to the socialists? Lol

No one is saying people like you don't pay a fair tax at 24%, taxes 10%-37% not the highest bracket but the super-rich do not pay income tax.

Poor people per capita pay more tax than rich people.

That wouldn’t be the case if liberal policies wouldn’t be in place to stop growth in job creation and training to help these people get off their feet into taking less government assistance, some thing that Bill Clinton was very good at might I add…for a liberal.

The same situation existed under the previous president.

So people who only pay 10% tax because of low wages are getting government assistance?

Like spending $6.5 trillion for a 20-year-war in Afghanistan which you lost.

Well not really lost, we should’ve kept a small residual presence there, but like the general said, in the end it was Biden‘s decision and not theirs.

The plain fact of the matter, which eventually you will have to accept. America lost and the Taliban won. The terrorists best America with all of its highly developed weapons. The final decisions are always the Commander-in-Chief, whoever that is. Your children will pay taxes to pay off the Afghan War debt due in 2050.

The Pandora Papers once again reveals the deep corruption of the rich and powerful.

Try hitting up big tech for money, they hold over 70% of the wealth, maybe these rich liberals as kind and gracious as they are will give you some of their hard earned cash.

That is not quite correct. more than 90% of total wealth is owned by less than 10% of the people. The big tech companies are owned by their stockholders.

2 ( +2 / -0 )

There is a difference between legally wrong and morally wrong. For this specific situation, in the US, this is illegal. I wouldn't assume it was illegal anywhere else.

Name and shame the people and companies. Let their local govts decide what to do, assuming they haven't been paid off.

1 ( +1 / -0 )

The plain fact of the matter, which eventually you will have to accept. America lost and the Taliban won.

Because of how we exited, that is undeniable

The terrorists best America with all of its highly developed weapons. The final decisions are always the Commander-in-Chief,

yes

whoever that is.

What? Lol

Your children will pay taxes to pay off the Afghan War debt due in 2050.

Hmmmm…..then again…

-6 ( +0 / -6 )

I'll give the far-right media and their Repub eunuchs credit - they are very good at con-jobs....

They somehow scam the uneducated and poor in the US to defend the Top 1% richest in the country....

Think of that, these folks live in trailer parks, give what meager money they have to far-right PACs, have no health insurance, and are far more likely to be unvaccinated and end up in the ICU with severe COVID....

Yet they say these richest of the rich are to be praised for their dodgy schemes to avoid paying tax....

All the while the ultra-rich ridicule and denigrate them as bumpkins and suckers...

3 ( +3 / -0 )

bass4funk

The plain fact of the matter, which eventually you will have to accept. America lost and the Taliban won.

Because of how we exited, that is undeniable

No, you don't lose a 20-year war in a single month. You already lost the war years ago. The final month was the ending of it all. I understand how hard it must be for someone like you who promotes a strong military to see you lose against a bunch of lightly armed religious terrorists. Just accept the defeat and move on.

Your children will be paying tax on the war for many years. Such a waste of money.

5 ( +5 / -0 )

Funny how many Russians who had no background in business, no family business or education in business became fabulously wealthy merely by knowing a former middling KGB spy turned autocrat.....

Even more so if it was a women having an affair with him. How very strange indeed.

1 ( +2 / -1 )

In the US, I Don’t blame them one bit.

Spoken like a true billionaire, dear sir.

Imagine the horrors of the rich paying tax, we should all bury our money in the backyard.

4 ( +4 / -0 )

bass4funk

Try hitting up big tech for money, they hold over 70% of the wealth, maybe these rich liberals as kind and gracious as they are will give you some of their hard earned cash.

You seem to forget, all those rich tech companies are owned by the stockholders, many of those are not liberals and in fact you buy Apple products and use Google.

1 ( +1 / -0 )

If ya want to be a high public-serving figure, the public deserves more transparency about your personal accounts - the higher the ranking, the more transparency

If ya can't handle that, then don't go into public office

It's irresponsible when the public don't know much about their highest leaders - why wouldn't ya wanna know what your leaders are doing in the public's name

Ya should ask questions about your public heads - instead of closing your eyes

1 ( +1 / -0 )

At the accelerated rate things are going in the US, the mega-rich will do the same. 

The wealthy in the US have been doing this for many decades. They are the ones who wrote the book on stashing wealth overseas.

1 ( +1 / -0 )

The plain fact of the matter, which eventually you will have to accept. America lost and the Taliban won.

That war was lost by 2004. The shame is it was initially a victory but the US refused to commit enough troops to occupy every corner of Afghanistan and prevent remnants of the Taliban from re-organizing. I also think the US made a grave error trusting any of the many warlords there. Every single one of them should have been disarmed and disbanded. It was a crooked disloyal warlord who Bin Laden was able to buy off and allow him to escape from Tora Bora where he should have died. Sadly the US Army refused to allow the US Marines to participate in the Tora Bora assault and instead relied on a warlord who stabbed us in the back. Gen Mattis had a base south of Kandahar called Rhino. He conducted an assault from ships in the North Arabian Sea, the longest range amphibious assault in history, took a dirt airfield south of Kandahar, reinforced it then the Army refused to let him assault Kandahar. Read Mattis book on the conduct of the several wars in the region to understand the truth.

1 ( +1 / -0 )

You seem to forget, all those rich tech companies are owned by the stockholders, many of those are not liberals and in fact you buy Apple products and use Google.

Apple, Google and Facebook give vastly more money to right wing politicians and causes than they give to liberal politicians or causes. It is not a small difference either. They are much more aligned with the right wing and behave in business more like the robber barons of the Guilded Age than anything.

1 ( +1 / -0 )

Where I am from Libs are the conservative mob. I am alway confuse when see Libs bracketed with the Left of politic. Right of politics in the UK are the Torys, the left are Labor. USA right of politics Reps and left Dems. So why are these uninformed call Liberals left when they are from the right of politics????

0 ( +0 / -0 )

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