Reviewed by “Grandpa”
LEAKED TAX HAVEN FILES FROM THE BRITISH VIRGIN ISLANDS
By Linda McQuaig author, of The Trouble with Billionaires,
For [any country] to claim they’re clamping down on tax havens would be like claiming a clampdown on bank robberies by setting up a turn-in-a-robber snitch line, while at the same time providing robbers with instruction manuals on cracking safes.
If the Harper (Canadian) government had any genuine interest in tackling tax havens, it would get behind growing global efforts to shut them down. Even the U.S. Congress passed a sweeping law, to take effect next year, requiring foreign banks to report all assets held by their U.S. clients to U.S. tax authorities.
(Grandpa notes that this new law has made all USA citizens “Toxic Americans” who are no longer welcome in most prosperous countries. Result: Long lines to renounce American Citizenship & move abroad.)
A plan to develop an international system along these lines, long championed by the U.K.-based Tax Justice Network, has fresh momentum in the wake of last week’s revelations.
Such a system would be similar to — and no more complicated than—the international system of passports. All governments identify everyone entering their country when the person’s passport is electronically scanned at the border. Similarly, all banks could electronically report all their clients’ accounts to relevant [home country] tax authorities (as they already do domestically).
Tax haven users — who include a rogue’s gallery of money launderers, fraud artists, embezzlers, organized criminals, drug and human traffickers, as well as wealthy tax-evading individuals and corporations — would then find it no easier to move money undetected around the world than to travel without a passport.
(Grandpa says: What’s so bad about us being able to travel the world freely without any passports or government controls?
What’s so bad about us being able to take your own tax paid – hard earned money anywhere we please to shelter it from the kind of government confiscation we have just seen in Cyprus?)
But why would our government bother supporting serious global efforts to eliminate a system that facilitates despicable crimes and robs national treasuries, when it can look tough by crossing its fingers and hoping to catch a few cheats with a snitch line?
(Grandpa says: This author demonizes non-criminals–like for instance doctors & dentists who– among millions of other professionals in the USA — just try to protect some of their assets from ambulance chaser contingent fee lawyers.
In some countries like France, over half the entire population lives off government checks instead of providing useful products and services. In France, the small remaining percentage of productive citizens were threatened with a 75% income tax. This on top of wealth and value added taxes that could confiscate far more income than people earned. Naturally the rich and productive elements voted with their feet & moved their ass & assets to more friendly jurisdictions.
Attempts by Governments to redistribute wealth will always redistribute wealthy tax payers.)
Comments in red by “Grandpa”
Bottom line is that if you want to hide your assets and protect your ass, get a copy of BYE BYE BIG BROTHER and make it besides reading every night for a year or so. It will show you how to be a “P.T.” who don’t follow the crowd.
Once you have absorbed the BBBB material and the free updates from “Grandpa” you will never be caught with your pants down.
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