Tag: .01% offshore tax evasion

This is what happens when you DO NOT regulate the private industry

Dan Price @DanPriceSeattle
I cut my CEO pay by a million dollars so all workers could make at least $70,000 per year.
The gov’t subsidizing the mega corporations. Its an understood thing. Underpay workers. Subsidize the company to pay these workers. Make it up in government transfer payments to these people.
Amazon, led by the richest person in U.S. history: *Paid 0 federal income tax in 2017/2018 and 1% in 2019 *Received $3 billion in taxpayer subsidies for local offices & warehouses *Top recipient of food stamps & Medicaid for employees, meaning taxpayers subsidize low pay/benefits
When a regular person goes broke, “they shouldn’t have bought an iPhone or avocado toast” When a billionaire with 3 yachts, 5 mansions and a near-zero effective tax rate lays people off, “that’s just the economy”
Sources on that

Companies with most workers on food stamps & Medicaid

Walmart
McDonald’s
Amazon Burger King
FedEx
70% work full-time
“it’s a company’s choice to pay workers less”

But your tax money subsidizes low wages/lack of health care so corporations can profit more

Why don’t we advocate a ‘living wage’?
In NZ the living wage is $20.50 per hour.
People keep asking: why didn’t Republicans re-authorize $600 unemployment benefits when it would have won them so many votes?
Because without unemployment, you force people to work to survive. And then there’s no worker shortage for big companies that bankroll their campaigns.
“Tyson Foods ordered employees to report for work while supervisors privately wagered money on the number of workers who would be sickened by the deadly virus.”

#Mercer revelation in Paradise Papers #ParadisePapers

Leaked documents … show how the billionaire Mercer family built a $60m war chest for conservative causes inside their family foundation by using an offshore investment vehicle to avoid US tax,” The Guardian reports:“The offshore vehicle was part of a network of companies in the Atlantic tax haven of Bermuda led by Robert Mercer, the wealthy hedge-fund executive and Bannon patron whose spending helped put Trump in the White House and aided a resurgence of the Republican right.”

“Mercer, 71, appears as a director of eight Bermuda companies in the Paradise Papers

a trove of millions of leaked documents on offshore finance reviewed by the Guardian, the International Consortium of Investigative Journalists and other partners.”
Paradise Papers

“The files include a copy of Mercer’s US passport and other private data.”

POLITICIANS PASS ANOTHER TAX LOOPHOLE FOR THE .01%

Mercer has personally donated $41m to federal election campaigns over the past decade, according to public filings.

Mercer was  a major investor in Breitbart  rightwing propaganda website that Bannon led before joining Trump’s campaign.

You take retirement plans or foundations, you invest them in a hedge fund, and even if the value rises 100%, you can sell off the investments with no tax consequences. ~ Bill Parish

The Internal Revenue Service (IRS) has been pursuing Renaissance for $6.8bn in federal taxes that it was accused of improperly avoiding through practices described as “abuses” in a 2014 investigation by a Senate committee.

► Mercer Family Foundation nonprofit led  daughter Rebekah gave out $62m to conservative  republican “research” propaganda  thinktanks  including the Heritage Foundation, the Federalist Society, and the Media Research Center.

$4.7m to Bannon’s Government Accountability Institute
Bannon founded GAI in Florida in 2012 with Peter Schweizer, the conservative author of Clinton Cash. Since then, the GAI has paid Bannon $379,000 and Schweizer $781,000. Rebekah Mercer was a director of the group until 2014.

$3.8m to the nonprofit arm of Citizens United, best known for the deregulation of political spending it won in a 2010 supreme court ruling.

$1.2m to the Young America’s Foundation, another conservative nonprofit, which paid Bannon more than $577,000 between 2010 and 2012 for filmmaking service

Resources

Secrets of the Global Elite

Offshore leaks database
Find out who’s behind almost 500,000 offshore companies, foundations and trusts from the Panama Papers, the Offshore Leaks and the Bahamas Leaks investigations.

An ICIJ Investigation The Panama Papers:
Exposing the Rogue Offshore Finance Industry

July 4 2015 London is now the global money-laundering centre for the drug trade, says crime expert Gomorrah author Roberto Saviano says ‘the British treat it as not their problem’ ~ James Hanning, David Connett