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What's up with the Paradise Papers


Beanstock
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Hi guys. You may have heard of the Paradise Papers that broke last weekend.

 

Yesterday, I published an article which not only summarizes their main discoveries of importance but also treats the wider context, including how very different the non-rich are treated by our government abroad. Two opposite sets of rules. Ugh!

 

A lot of work went into this, and you won't likely get this much related information anywhere else. So, here is the link (please share it around if you like it):

Paradise Papers or Paper Paradise? — Two Sets of Rules for Rich and Poor

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whoa Bean, I just read this after I posted a news article about this on a different thread. 

 

You make salient points all the way through. This is a central econ 101 cross roads as you suggest and we don't have any free market place which is democratically somewhat controlled in such a way where tax revenue, and national debt is really part of the framework, since the much of the data is only speculative at best. 

 

Oh, the old census don't much work for the people like it should. Constraint's can't be counted because sometimes they just don't show up in the numbers. The hill of beans was piled up away from the crowd and left to its own just sitting getting bigger. 

 

Oligarchs in Russia, and here at home. Oligarchs worldwide. All in a global economy that sinks or floats depending upon the weather. And climate change, what will that bring us? 

Where does any legislation protect people from those at the top?

 

If I find myself making millions of dollars a year, should my first impulse be to find a way to pay less tax? I don't thinks so. Maybe that's why I'm not so rich right? 

 

Peace!

 

 

 

 

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On 11/9/2017 at 7:05 AM, Craig234 said:

Thank you for posting it here. Good work!

 

No sweat. ... Actually, a lot of sweat. ;-)   I quickly end up spreading myself too thin posting links like this in forums and social media places I must constantly seek out.

 

I wish more people were sharing stuff like his instead of kitten videos and such.

 

 

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11 hours ago, TheOldBarn said:

Oligarchs in Russia, and here at home. Oligarchs worldwide. All in a global economy that sinks or floats depending upon the weather. And climate change, what will that bring us? 

Where does any legislation protect people from those at the top?

 

Such protection will always be only temporary as long as we permit excessive wealth concentration in the hands of a few.

 

We can indeed arrange asset ownership and prosperity in a far more fairly shared and therefore not intrinsically corrupting way, once we adjust our mindset accordingly.

 

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Yes.  The creation of a large, prosperous middle class won't be accomplished without VERY high taxes on the rich

 

Profits are so excessive, among the 1%, that they can't most of it.   They have to give to charity,  seek power and influence with it, and/or stash it somewhere.  Nobody really knows how much wealth the ultra rich have clandestinely stashed offshore to avoid taxes.  But it's got to be a staggering amount.

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Taxing the rich progressively is only part of the answer, though. As long as we allow them to be excessively rich, some of them will always bribe and subvert our political system to roll back the taxes, roll back government programs for the poor, increase corporate charity, remove public control over their corporations, all the way to where they can rape the economy, cause global economic crashes, and stash most of their cash in tax havens.

 

We have been through all this already and need to learn our lesson. Half measures are simply not enough.

 

I am also not satisfied with a "large, prosperous middle class" either. I will only be satisfied with prosperity for EVERYBODY. Even in our Golden Age we still had a lingering, invisible (because ignored) underclass of poor people. This is not acceptable. Nowadays we have the means for ALL to prosper, and only when we ensure this, will we become able to properly handle the ultimate problems like the ravages of aging.

 

No more half measures.

 

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49 minutes ago, Beanstock said:

I am also not satisfied with a "large, prosperous middle class" either.  I will only be satisfied with prosperity for EVERYBODY. Even in our Golden Age we still had a lingering, invisible (because ignored) underclass of poor people.

 

It is an inescapable reality that there will always be those who fall through the cracks.  Generous social programs should be available to help them get on their feet again.  Just like in the Social Democracies extant today.

 

54 minutes ago, Beanstock said:

As long as we allow them to be excessively rich, some of them will always bribe and subvert our political system to roll back the taxes, roll back government programs for the poor, increase corporate charity, remove public control over their corporations, all the way to where they can rape the economy, cause global economic crashes, and stash most of their cash in tax havens.

 

This is why the top economic echelons need to be taxed near 100%.  Or enough that their potential to deprive the rest of the population, is gone.

 

58 minutes ago, Beanstock said:

ultimate problems like the ravages of aging.

 

Probably won't be as simple as it sounds.  But there should be enough funding for ongoing medical research and development.

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5 hours ago, bludog said:

 

It is an inescapable reality that there will always be those who fall through the cracks.  Generous social programs should be available to help them get on their feet again.  Just like in the Social Democracies extant today.

 

 

This is why the top economic echelons need to be taxed near 100%.  Or enough that their potential to deprive the rest of the population, is gone.

 

 

Probably won't be as simple as it sounds.  But there should be enough funding for ongoing medical research and development.

Doesn’t matter how much money is provided for medical research if only the wealthy get to take advantage of it.  Big Pharma keeps telling us that Americans pay more money for drugs because “America pays for the research and development”.  Think about that:  The GOP plan is to kick as many people off of Medicaid as possible, eliminate the medical tax deduction .... which ONLY affects older people on limited incomes .... and allow INSANE prices for drugs .. WHICH ALSO AFFECTS OLDER PEOPLE.  I swear, their plan is to kill off the poor and those approaching 65 (so that they will not make it to Medicare age).  

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3 hours ago, TruroBeth said:

Big Pharma keeps telling us that Americans pay more money for drugs because “America pays for the research and development”.  Think about that:  The GOP plan is to kick as many people off of Medicaid as possible, eliminate the medical tax deduction .... which ONLY affects older people on limited incomes .... and allow INSANE prices for drugs .. WHICH ALSO AFFECTS OLDER PEOPLE.  I swear, their plan is to kill off the poor and those approaching 65 (so that they will not make it to Medicare age).  

 

Having been legally bribed by Big Pharma, The GOP's goal is tax breaks for the ultra-wealthy.  Collateral damage, for any part of the rest of the population, is of trivial importance, in their narrow, self-serving estimation. 

 

4 hours ago, TruroBeth said:

Doesn’t matter how much money is provided for medical research if only the wealthy get to take advantage of it.

 

9 hours ago, bludog said:

This is why the top economic echelons need to be taxed near 100%.  Or enough that their potential to deprive the rest of the population, is gone.

 

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20 hours ago, TruroBeth said:

I swear, their plan is to kill off the poor and those approaching 65 (so that they will not make it to Medicare age

 

Ditto.

 

 

15 hours ago, bludog said:

Having been legally bribed by Big Pharma, The GOP's goal is tax breaks for the ultra-wealthy.  Collateral damage, for any part of the rest of the population, is of trivial importance, in their narrow, self-serving estimation.

 

Also true.

 

 

15 hours ago, bludog said:

This is why the top economic echelons need to be taxed near 100%.  Or enough that their potential to deprive the rest of the population, is gone.

 

Let's think about going all the way:

 

  1. A federal maximum wage/income above which 100% is taxed.
  2. A company maximum wage law not permitting anyone in a business or institution to earn more than 4 or 5 times the average or median income within the company or 7 times the lowest income within it.
  3. Breaking up the billionaire trusts: corporate shares are evenly distributed among all employees and a federal trust. The latter serves as a dividend collector for a universal basic income (citizen dividend) respectively an asset base for a citizen national assets share that I will soon post about on my blog.
  4. A federal job guarantee which uses government spending not on insane military expenditures (a huge portion if which I suspect to be pure profits for the "defense" industry billionaires rather than actual costs) nor on massive corporate subsidies but on monetizing non-marketable labor (like taking care of kids and the elderly).

And so on and so forth.

 

The gist: move away from a market/profits driven civilization to a human value driven civilization with maximum democracy, liberty, and affluent shared prosperity. The goal: a great world to live in for everybody (who isn't irreparably, awfully sick) instead of wrestling over who gets to strong-arm and rip off whom. Let's put our resources, science, technology, know-how, and creativity to use for creating a good life for all instead of a continued cutthroat society.

 

;-)

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