Excellent content. Ultra High Net Worth people made the system, and will manipulate the system to meet their needs. End of story. If I were in their boat, I would do no differently. Neither would anyone else. Money is better used by individuals than governments.
It's been a rough year with losses from failed banks, real estate crashes, a struggling economy, and downturns in stocks and dividends. It feels like everything has been going wrong. What a terrible year it is…
Exposing tax Havens? It's not evil to have tax Havens. You can do it legitimately. Most people hate the rich. Does your family have a trust, LLC, and a holding company? Why not? It's just paperwork does your family have established leadership and processes for success or is everyone in individual latchkey kid in an unorganized family? Don't hate the rich, learn the paperwork. The tax Havens are great, can't wait to get my money back that I had lost, people complain too much. Do the paperwork and establish leadership in your family.
Just because tax havens are legal, doesn't make them moral. Most laws are created to serve the interests of the powerful. However, I do find common ground with you regarding family leadership. I teach my children that life is about love and not material wealth. I also teach them about individual responsibility coupled with aneed to better society and decrease inequality by having wealth redistributed by the government that is representative of all people. Look at northern Europe and other places that have a market economy mixed with regulations and high taxes, they seem to get their money's worth.
I think everyone should benefit from no or low tax like Dubai is crazy how hard you work to have little to nothing. Your paycheck gets a income tax you go to the store you get tax, you pay a bill tax is added is crazy
The question here is, what to do about this? If every politician is taking money from these tax havens or even have their own companies based out of these havens? We as a people have no way of combatting companies too rich to be caught by any changing laws. The people in charge of these laws strategically make it this way for their investors and working people pile it all up for them.
What the politicians do is obvious. They shrink down the numbers of tax havens, and limit confidentiality. Transparency is the key. Not as pinciple, as a nuclear option. If elite members fall from grace you can plunder them far easier. The parasitic political management and their secret signal givers it is what is to fear.
Well personally im against excessive taxing on any level thought government today area lot worse than most greedy monarchs. They belive they have right to tax. Some people are industrius enought to try avoid taxing situations. And other yell far away, STOP you need to pay equal share of taxes or more. people never ask, should anyone pay taxes. Do government spend so much and do government offer thouse services for tax money. I personal level belive, that government offers alot of services that i dont need and im not intrested of paying for. If government say you have no choice, then i say i find a choice and that it. Im not gainst people wealt, im only against wealth that is acquired on human suffering. So if someone want to live in palaces i belive they shoulnt be extra taxed.
Diving into the world of tax havens was eye-opening. From Switzerland's banking legacy to the Caribbean's bold innovations, it's a financial rollercoaster. Yet, I can't shake off the ethical concerns. With cryptocurrencies challenging these havens and COVID-19's economic impact, it's clear that the world of offshore finance is at a crossroads. Are these havens a necessity or a relic of a bygone era?
One important question: When does taxation become confiscation? When you understand the answer to this question you will understand why successful people try so hard to minimize their taxes. The problem isn't that the rich do not pay their fair share of taxes. The reality is that they pay virtually all of the taxes. Having a more moderate upper tax rate would go a long ways to reducing the interest in tax havens.
"Who wants to stay a billionaire". Too funny. I think 🤔 tax havens will just continue to adapt. The smaller countries that operate as tax havens will probably evolve to being a entry point or node to a global system of financial services. Like your analogy of an Avengers team up. Kind of like a global Hawala, but using crypto and other similar asset transfer service.
Would you have the opportunity to talk about 1) how did Russian billionaires infiltrate the British Upper Class in the 21st century? 2) the billionaires from former British colonies (Nigeria, for instance) in London?
Definitely a little of both. A must for the noble of the bunch. We don't need the government's prying eyes in our business. There is always those who are only out for themselves and there inlays the problem. Okay 20% is more than fair. Touche 😊
20% is more than fair for sure. before first WW europe average tax burden was 7,7% some countrys had even 1,5% , but need for money to wage war started raising Taxes fast. Now if you find country where taxes are lower than 50% you are lucky. there is so many taxes. First is income tax, then there is hundread different consumption taxes and then there is property taxes. More you have more they take from you and if you dont keep pace what thay took from you you will losing wealth. Middleclass people dont have much, but they still struggle to keep what they have. Lowerclass will never have anything couse constant taxing. Richer people who dont hide thwy wealth they soon lose it.
Would it really make a difference if the rich did pay their fair share of taxes...? Or would it just be that that much more money goes to places it doesn't need to and people that don't deserve it
yes it would make difference, there would be alot less richer people. Thought communists would be happy. On sociologically it woulnt make any difference. There is different question, what is fair. Is it fair that poor people pay 200 currency but rich will need to pay 2Million. ammounts are different. Real question is why people need to pay taxes what they get for it. In Feudal world. Ruler used that money to protect country borders and by that protected wealth, same is ruler used money to maintain Guards also to help protect people property and taxes were alot smaller. Now Government constantly demands money and we even dont know what we get for it and do we even need it.
"If you clicked on this, you've already exposed yourself..."😂😂😂 you sure right. I think paying taxes is right, but not those ridiculous amounts certain governments want. The Spanish gov't wants a near 50% of her income which is absolutely absurd & ridiculous!...i now support tax havens
How can you comment on this as you have hit the nail on the head with what you said in this video the only thing I don't Agree with is a world wide tax cause each countries needs are different. So are the elitist in each country each country has it's own financial problems and working situations 😮
What’s your true opinion on tax havens - are they an understandable maneuver by the successful to protect their money from prying and greedy governments - Or are they a parasitic hiding places for the elite to not pay their fair share of society’s bargain?
I see them as parasites. I live in Switzerland - and as a working citizen I pay +-25% of my income in taxes. Honestly - why me… the one that is actually working and contributing to economy, why should I pay more in taxes than people that are basically useless to economy? Owning sht doesn’t contribute to anything. I am poor, I don’t mind contributing to the society - but I don’t want to do that if the rich won’t… Especially while they also benefit from the infrastructure that working class is supporting. We have only 2 classes: working class & parasite class
@@kjkj4725 Then ask yourself, why you pay 25% of your income away? Good solution to that would be you establish company and sell your skills as contract worker and then have that company in Tax heaven. Most people are exploited by society, couse they allow themself to be exploited and they ensure themself, this is they duty to pay taxes and also other people duty. Actually they dont have such duty and you are taxed couse you allow to be taxed.
Well techically you dont need to be billionair to have practical intrests in tax havens. Well maybe you have few hundread thousand and feel you pay too much tax from it and try to avoid.. Hen it was that panama taxhaven big exposure. We find out that people from our country kept rhere varied ammounts of money as little as 80K max was 3 million. Big Problem is common person gets taxed before they have any money to keep safe. And people just dont know how to protect they money. So that will keep people poor. Tax haven are not much use for salary workers, but anyone from small business to contract worker can dodge taxes wit tax havens.
Even if governments we’re getting the money it would continue to tell the ppl they didn’t have any to give the average working class. Then when places like Ukraine needed it, poof, there it is…
Taxes are themselves subject to a world market, so countries must keep taxes under some kind of control so as to remain economically competitive. What's sad is, it is all under constant churning.
