Paradise Papers leak reveals secrets of the world elite's hidden wealth

Discussion in 'The Guru's Pub' started by Phragmeister, Nov 5, 2017.

  1. Phragmeister

    Phragmeister Guest

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    Not to be confused with the Panama Papers leak.


    The world’s biggest businesses, heads of state and global figures in politics, entertainment and sport who have sheltered their wealth in secretive tax havens are being revealed this week in a major new investigation into Britain’s offshore empires.

    The details come from a leak of 13.4m files that expose the global environments in which tax abuses can thrive – and the complex and seemingly artificial ways the wealthiest corporations can legally protect their wealth.

    The material, which has come from two offshore service providers and the company registries of 19 tax havens, was obtained by the German newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists with partners including the Guardian, the BBC and the New York Times.


    Continued..


    https://www.geo.tv/latest/166215-what-is-paradise-paper

    What is Paradise Papers?

    The Paradise Papers is a database comprising around 13.4 million documents, which reveals over 25,000 companies owned by the world's rich and influential individuals.

    The documents were obtained from two companies in Singapore and Bermuda by a German newspaper and shared with the International Consortium of Investigative Journalists (ICIJ). A major part of the Paradise Papers comprises leaked files from company 'Appleby'.

    The files reveal data of over 25,000 companies owned by individuals from 180 countries, from 1950 to 2016.

    Below is a comparison of Paradise Papers with Panama Papers:

    ----

    Number of politicians and public officials

    * Paradise Papers: 127 politicians and public officials (14 current or former country leaders included) from more than 47 countries

    * Panama Papers: 140 politicians and public officials from more than 50 countries

    ----

    Which leak is the bigger than other?

    Paradise Papers is bigger in number of records (13.5 million in Paradise Papers vs. 11.5 million in Panama Papers) and Panama Papers is bigger in terms of size of the leak (1.4 Tb in Paradise Papers vs. 2.6 Tb in Panama Papers).

    Due to that, I would recommend to say "one of the biggest leaks in the history of journalism" instead of the biggest and then you could compare some of the different figures related to the data size between Paradise Papers and previous leaks.

    ----

    Journalists in Paradise Papers project

    Media partners, countries, journalists

    * Number of journalists 381

    * Number of media partners 96

    * Number of countries 67

    If you just consider the number of journalists, yes. There are more journalists working on the Paradise Papers than the Panama Papers at the time of the project release (381 Paradise Papers - 376 Panama Papers).

    As for the number of media partners and number of countries, there are a few less. Panama Papers had 100+ media partners and 76 countries. The ICIJ currently has for Paradise Papers 96 media partners and 67 countries.
     
  2. airbud7

    airbud7 Guest

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    I wish I had an offshore empire!...wasn't in the cards for me though.....Grrrr

    Still happy with what I do have!....:)
     
  3. XP-200

    XP-200 Ancient Guru

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    I blame the sick, the disabled, the unemployed, the homeless, the poor and working class, just how dare they to have made all these tax loopholes in the law so they can legally not pay their fair share while telling everybody else to do as they say and not as they do. :rolleyes:
     
  4. Serotonin

    Serotonin Ancient Guru

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    What good is a leak when it stops and solves, nothing?

    Rich people hide money in offshore tax havens

    Wew, lotta new info in there
     
    Last edited: Nov 6, 2017
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  5. allesclar

    allesclar Ancient Guru

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    If you found a way not to have to pay tax, you would do it.

    Anyone who says otherwise is a liar.

    They need to change the system, not blame the users.
     
  6. scatman839

    scatman839 Ancient Guru

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  7. Serotonin

    Serotonin Ancient Guru

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    Agreed.
     
  8. XP-200

    XP-200 Ancient Guru

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    Awesome. lol

    What was he mumbling all the time, sounded like dear dear dear. lol
     
  9. scatman839

    scatman839 Ancient Guru

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    literally that haha, it made no sense, he constantly said dear dear dear dear the whole time while walking away
     
  10. Loobyluggs

    Loobyluggs Ancient Guru

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    "Don't hate the playa, hate the game" ?

    That doesn't apply to the ones who are lobbying to make sure they can see the cards before they are dealt...
     

  11. __hollywood|meo

    __hollywood|meo Ancient Guru

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    thats called passing the buck & is actually a logical fallacy. the system & its abusers are both corrupt, & both enable the other to continue.

    if you ask me, the entire tax code in the US needs to be scrapped & rewritten, but unfortunately even such drastic measures wouldnt prevent this sort of thing.
     
  12. jbscotchman

    jbscotchman Guest

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    It's pretty sick when a presidential candidate doesn't know how many houses he has.
     
  13. fantaskarsef

    fantaskarsef Ancient Guru

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    I find it funny how people think anything will change...
     
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  14. XP-200

    XP-200 Ancient Guru

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    ^^Hope is all that we, the scum on the ground have, seeing as those at the top have stacked the deck in their favour over many many many years of corruption and immorality, and the only reason i still vote is because i knew my grandparents and their family who fought during WW2, and some came back and some did not, so i vote for what they did and never for any of these vile corrupt individuals, i simply have to try and pick the best of a very bad bunch.
     
  15. Redemption80

    Redemption80 Guest

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    Not being mega rich, I am unable to truthfully claim that I would not do the same thing if I was them. If someone came to me now and stated they could find a loophole so that I would pay less tax, I would probably do it.

    I would like to think that if I had more money that I would ever need, I would pay my way but who knows until your in that situation.

    I personally have no problem with the people/groups who are doing this. My issue would be with those in power who allow the laws in each country to be exploited, either through incompetence or deliberately leaving these loopholes open to benefit certain people.

    I do think that when governments get greedy with tax that it makes things worse, and fuels this sort of thing though.
     
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  16. fantaskarsef

    fantaskarsef Ancient Guru

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    "I would do the same. The politicians are to blame for the loopholes in laws, they shouldn't collect that many taxes, because of their taxes and the loopholes the companies do this." :D

    No, sorry, just because you know you can avoid taxes and screw over anybody else doesn't mean you are morally and ethically allowed to do so. That doesn't make much sense.
     
  17. Redemption80

    Redemption80 Guest

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    It makes perfect sense. If an individual/organisation knowingly avoids paying taxes then they either don't care they are screwing others over, or they have morally and ethically justified their decision to themselves.

    Ethics or morals isn't relevant in this, your not going to fix this by telling people to do the right thing.

    Naming and shaming will work for large organisations or public figures, but many just won't care unless there are legal of financial implications.
     
  18. fantaskarsef

    fantaskarsef Ancient Guru

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    You are right about that one, morals and ethics are subjective. Governments are missing money they are trying to get from the little people because the big ones are getting away, that's the problem. So it would be in the people's interest to force such companies to pay their share, via closing loopholes.
     
  19. Redemption80

    Redemption80 Guest

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    I just wonder how many "honest" politicians fear driving away rich individuals/organisations if they force them to pay more, and how many dishonest politicians don't want them closed as they benefit people and groups that they are a part of.
     
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  20. nhlkoho

    nhlkoho Guest

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    That will never happen when there are lobbyists that spend millions of dollars to stop you from getting re-elected if you disagree with their position. Politicians are more concerned with keeping their jobs than they are with doing the right thing.
     
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