The Panama Papers, The Rich get so very, very much Richer Options

[wombat]

How many would do the same flam, probably quite a lot. No One likes opening their pay packet and seeing the government taking a hefty chunk of it before you even see it.

so intimidation begets greed?

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[wombat]

so intimidation begets greed does it ?

intimidation is greed

[ktv]

it IS illegal to hide your profits and wealth to avoid paying tax on it, which is exactly what these people are doing.
you cannot selectively report to the tax office only certain information about your financial status.
You have to declare everything earned in the UK and pay all taxes owing.

those that think other wise are either not as intelligent as the claim to be or theyre simply playing the tory im all right jack and be damned with them card.

i suspect its both.

[*Billyu Boil*]

The Ultra rich rule this planet Melody and not one law gets past no matter what political party is in power and also that law must be to their advantage . So how do the people solve that problem .

I for one don't have a clue .

Politicians: you may have a vote, you have no voice.

As George Orwell would have it "The Pigs have become men". Corruption is a disease that is only spread by politicians. Even Mao's China is run by billionaire mandarins and their disgusting amoral families.

Have you read about Iceland's prime minister and his wife. This was elected on his promise to regulate crooked banking. It would be laughable if it were not so tragic. The Malay prime minister: "What 4 Billion dollars???" And there is F.I.F.A. A vote for Qatar??? How much money does the tax payer in the countries where there is still a degree of affluence hand annually to 3rd world politicians who are so openly corrupt they make no secret of it, and if any one complains they end up ( often accompanied with their families ) very and permanently dead.

The next time you go to vote, look at the poster of the smiling "Tribune Of The People" eager for your endorsement to move onto a higher and more lucrative plane, spit on it for that is what he or she is doing to you.

And to those of you who see a distinction between Tory and pseudo socialist, that ended shortly after the second world war.

[john.mcn]

intimidation is greed

Its now greed to hold onto as much of your own money as you can now?

The tax system penalises people who work hard and invest for the future. If you took your lifes saving and invested it in shares making a nice wee return then you would have to pay capital gains tax on profits over £11k , yet if you took those same savings and bet it on a horse earning you ten times as much then you would not pay one pence in tax.
If you work hard, own your own property and other valuables over £325k then your children will have to pay 40% tax on anything over that amount if you pass it on to them. That figure may seem high on a Glesga scheme but in some areas, especially in the south east it would get you very little. Someone i knew living down there was left their parents house and had to sell it due to a tax bill of tens of thousands of £'s.

No one works hard just to lump your kids with a debt from the government, its common sense to put measures in place to prevent it.

BTW i doubt very much my house will be worth anywhere near the threshold any time soon, but with immigration being as it is, well prices can only go up..

[angel]

Here in Canada ,a deceased persons estate must file a tax return which is done before an heir can take over that estate , the government takes it's dues before anyone and all assets of the deceased are calculated on the market value at the time of death , depending on how wealthy the deceased was this can be as much as 50% .

There is probably more to this but it is basically what happens here . with the exception of the primary residence of the deceased which seems to be safe . unless the estate still owes the government money , then it would be up to the heir to pay those taxes .

[ktv]

The tax system penalises people who work hard and invest for the future.

hoarding money abroad creates no investment at all

the tax system (attempts) to get people to pay their share into the country but the wealthy think because theyre rich enough then they shouldnt have to pay their share and its ok to use devious means to avoid paying it

people like you are exactly what is wrong with this country, youl accuse a poor immigrant of using up your valuable services then make excuses for multi millionaires who avoid paying their share into the system that pays for the exact same services.

its just us poor that should pay taxes is that it?

you definitely are a son of thatcher right enough and i dont give a hoot if you see this or not.

[flam]

We all try to better ourselves, some use the black market,its just greed,and that is what I would do e,g, If I go to a well known car dealer, who will charge me £500 for a repair, when I guy I know would do it for £200,and he does not want a receipt for the job.likewise me..Cant complain can I. .We all know somebody who will do a job without putting in tax return on the job they have done

[ktv]

little too much truth in this satire

EVERYONE has returned to work after learning that the system is a giant conspiracy designed to ruin their lives.

After discovering that the people telling them to knuckle down and accept cuts are squirreling their money away overseas to avoid tax, then often using that money to buy many houses and thus make them incredibly expensive, Britons said they had better get to the office.

Sales administrator Tom Logan said: “I can’t think about it too much now because I have to get on an overcrowded, filthy underground train to the job that I hate, so that I can continue to earn just enough money – after the tax has been taken out at source – to pay my rent.

“This morning is particularly important because the company hasn’t been making enough profit for the shareholders, several of whom are already billionaires, so we are all going to get a massive bollocking and told we have to do longer hours.

“It’s a bit of a nightmare really, it’s lucky they don’t keep moving the retirement age back while claiming that the country is running out of cash.

“Oh.”

Meanwhile David Cameron confirmed that returning to work was exactly the right thing to do, and that if you kept refusing to do so he would eventually get the police to hit you with truncheons.

from the daily mash

[ktv]

We all try to better ourselves, some use the black market,its just greed,and that is what I would do e,g, If I go to a well known car dealer, who will charge me £500 for a repair, when I guy I know would do it for £200,and he does not want a receipt for the job.likewise me..Cant complain can I. .We all know somebody who will do a job without putting in tax return on the job they have done

everyone does that sometimes, though still wrong the difference is doing that you wont single handedly avoid paying millions in tax every year.
working class people fiddling a very minor amount of tax each year is minuscule to the billions avoided by wealthy corporation owners.

a perfect example is camerons family fortune, they profited millions every single year in the uk but havent paid a single penny in tax for 30 YEAR!!!!.

the guy who does your car repair for £200 will still pay some tax on his earnings yet he'll be 10 times more likely to be investigated and imprisoned if they find a penny unpaid.

they whole system is corrupt and biased in favour of the rich, there are 3000+ people investigation DWP fraud estimated at £1.2 billion(est by DWP) a year(yet £1.5 is underpaid) and only 300 people investigating tax fraud at £34 billion a year(HMRC est) and the only people ever prosecuted under tax laws are your mechanic type guy not millionaires and their ilk.

regardless if its technically illegal or not the "i worked hard for my money so i shouldnt have to contribute to the system" argument is morally corrupt at any time but worse when our services are crumbling around us due to underfunding.

[Betsy2009]

[Melody]

Austerity policies! Ye have to laugh.they say that you can't kid all of the people all of the time but they seem to have managed it.

[john.mcn]

We all try to better ourselves, some use the black market,its just greed,and that is what I would do e,g, If I go to a well known car dealer, who will charge me £500 for a repair, when I guy I know would do it for £200,and he does not want a receipt for the job.likewise me..Cant complain can I. .We all know somebody who will do a job without putting in tax return on the job they have done

Millions of us dont pay the taxes we should, that £200 you mention is £40 vat not paid right away. If someone does 'cash jobs' you can pretty much guarantee its not all getting declared and thats reflected in the price. Anyone who thinks that the billions of £'s of tax revenue lost is solely down to millionaires or billionaires is deluded. The only way to solve it is a cashless system and i'd guess thats not that too far off into the future.

[flam]

Couldn,t agree more..J.MCN

[wombat]

The only way to solve it is a cashless system

nope, people will just steal goods and barter them