You Pay Tax, the Rich Don't

[Culprit]

If you haven't caught up with the news. Check out the latest 4 Corners episode. After the release Iceland's President has had to resign. The filthy rich avoid paying tax and the systems they use is simply money laundering on a major scale.

Will anything be done about it in Australia? Doubt it.


http://www.theage.com.au/world/panama-papers-iceland-prime-minister-sigmundur-gunnlaugsson-offers-his-resignation-20160405-gnza99.html

[London Dave]

Massive story this, rekindles your faith in serious investigative journalism, 100's of reporters across 80 odd countries...shows up the cheer squad sections of the Oz press for what they are, and why they could not be trusted with this.

We knew we are being taken for a ride, but the extend and breadth is astounding!

[Culprit]

[think positive]

Hmm nice the way he says I have an income as prime minister, a house, I have no shares etc or offshore investments. So his wife's 5.3 million off shore, she pays groceries, he pays mortgage?? What a douche

Interesting article,

[ronrat]

Seems they are treating the exposers as international heroes. A far cry from what happened to Assange and Snowden,

This should be fun. Can you imagine what will happen if it transpires that a number of media ownership groups and politicians in Australia are caught up in this. And half our top 50 companies. Will it suddenly not "be in the National interest".

When the ALP won Government in Victoria under John Cain after eons in the wilderness it had a strict and not negotiable social contract to name those beneficiaries of the George Adams trust who were making private fortunes out of basically doing nothing but were born lucky. When the list was scrutinised they realised their own people were mixed up with it along with benefactors and Union officials so they declined to publish it. It was not in our (read the ALP) interest.

And I wouldn't get twisted over Wilson. All they do is manage a contract to provide cheap labour to sit at a desk in a booth and wvae people through, occasionally checking some ID. If they lose a contract another company like Chubb will takeover and offer the jobs to the same people at the same low rate. It happens all the time. Pay someone 20 bucks and hour and charge the Government 50. It is meant to be cheaper than using the AFP who at least can carry a weapon to deter intruders. It was all part of the peace dividend Defence had to deliver before the world decided to go tits up again. Wilson will restructure, sack a few higher ups, and nothing will change.

[ronrat]

Be interesting to see if any,and please let it happen, some Newscorp executives get sprung. Would love to see

Up to 12 Newscorp executives and journalist are believed to have off shore accounts in the virgin Islands. The whole industry has been found to have conducted widespread tax avoidance practices but Newscorp is worthy as it rated number 3 of 18 recognised organisations. A Newscorp spokesman said it was deplorable that confidential financial matters are aired publicly without substance or confirmation. He then went on to say, "Our financial dealings should be inviolate,these are not simple medical records after all. It is a violation of the shyster/businessman relationship.

In the meantime Newscorp employees were heard to say "Get em in" "4 red hots please China" "your hook" and "can you lend me 50 till payday, that tip was no bloody good and I promised to bring fish and chips home for the missus and a bottle of Jacobs creek'.

[Jezza]

More resignations have arisen as a result of this news story.

FIFA Ethics Committee member Juan Pedro Damiani

http://www.theguardian.com/football...mber-juan-pedro-damiani-resigns-panama-papers

Chile's President of the national Transparency International branch

http://uk.businessinsider.com/panam...arency-international-head-resigns-2016-4?IR=T

[Culprit]

http://www.economist.com/blogs/bagehot/2016/04/david-camerons-taxes

David Cameron could be the next one to go.

[Culprit]

Prime Minister Malcolm Turnbull was once a director of an offshore company set up by Mossack Fonseca, data from the Panama Papers shows.

Read more: http://www.theage.com.au/business/banking-and-finance/panama-papers-malcolm-turnbull-named-20160511-got0di.html#ixzz48Ntd8ZVk
Follow us: @theage on Twitter | theageAustralia on Facebook

No surprise here and we will have the Sargent Schultz Defence.

[Pies4shaw]

And what conclusion do you draw from this?

I won't be voting for Turnbull's party (and I never have) but this is muck-raking of the highest order at the very periphery of political relevance. If he was doing it to alter his personal tax position, that might (just) be problematic but the fact that he was director of a company set up by a law firm in that jurisdiction is neither here nor there.

I was actually very annoyed by The Age's article when I saw it this morning. The headline identified him as "named" in the "Panama Papers", thereby implying - at least to this reader - that something dodgy might have been done - but it quickly disavowed any suggestion of illegality or impropriety.

There are so many real issues of substance in a general election, I am embarrassed that this is even being discussed.

[watt price tully]

[Culprit]

[Pies4shaw]

There is nothing in this at all to suggest that Turnbull has engaged in tax avoidance. Just nothing. I have grave concerns about the fairness of the taxation system - and they probably coincide closely with you own - but whether or not an Australian is or was a director of a foreign company does not, without much more, even begin to interest me.