https://www.icij.org/investigations/pandora-papers/global-investigation-tax-havens-offshore/
The Pandora papers might be more explosive than Panama papers or wiki leaks.
The rich and powerful would always find a way to take advantage of socio-economic and Legislative disparity; as well as tax and market arbitrage. By recruiting lawyers, accountants and financial experts.
Tax evasion v. Tax avoidance. What’s legal? And what is Not ? Huge hoards of assets and profits hidden beneath layers of off shore companies and trusts. Conveniently unmentioned on asset declaration forms and tax returns of government officials and leaders…
The papers are a reminder that achieving a global economy transcends representatives of governments and regulatory authorities holding retreats and taking photos. It would entail the harmonization of policies and laws that are class neutral and immune to manipulation by the top 1% of the world economies.
The continued widening of the gap between the haves and the have nots is a cause for concern. Not only for economists and social critics. There has to be a way to ameliorate the harsh effects of the inequities via tax and structured redistribution of wealth and opportunities for self actualization.
The World is still grappling with the effects and revelations of the COVID 19 pandemic. Jobs have been lost. And many have also quit their jobs to re-skill and reposition themselves for fresh opportunities. The future of “work” and “business” is changing. And the world is shrinking and has become vastly interconnected. There are growing numbers of economic refugees as well as climate change refugees. Governments and Nation States need to come together to recognize that poverty, corruption, climate change, food crisis, health care crisis, water crisis, insecurity, terrorism, human trafficking & exploitation are global problems with global effects beyond the sub-regional and sub-national level.
Hiding assets and profits beneath stacks of legal documents and corporate papers serves no long-term beneficial purpose. Progress is a partnership between the public and private sector. Between the Government and the individual. And between the Elites and Masses. What use is a castle or a fat bank account if society collapses and anarchy is loose upon the land?
Perhaps the Pandora papers would engender honest talks towards a honest future for all of humanity.
DrAlexanderGrey 