Banks help billionaires dodge taxes

This video from the USA says about itself:

Major Banks Help Clients Hide Trillions in Offshore Tax Havens

James Henry: US media and politicians mostly ignore massive untaxed wealth that big banks help rich move to tax havens.

Alex Oberley, PRWatch: “At least $21 trillion in unreported private financial wealth was recently discovered sitting in secret tax havens…. The study is one of the first attempting to measure the hidden wealth. It could be as high as $32 trillion – a staggering sum”: here.

Tax-dodgers’ paradise the Cayman Islands buckled to the bankers’ lobby today and scrapped plans to introduce a meagre income tax on wealthy expats: here.

British bank accused of hiding 60,000 transactions worth $250 billion with Iranians, NY regulator says: here.

GEORGE OSBORNE has “no serious answer to the serious problem of tax avoidance” shadow chancellor John McDonnell charged yesterday after reports that five global investment banks were exposed for paying no corporation tax in Britain last year despite making billions in profits.

23 thoughts on “Banks help billionaires dodge taxes

  1. Ned Kelly vs the bankers

    Wednesday 08 August 2012

    So at last Ned Kelly’s bones have been returned to his family for a decent burial (M Star August 2) and about time too.

    When Ned and his gang robbed banks in Australia they would take the money and then build a fire of all the local people’s mortgage papers, debt certificates and IOUs.

    That was a real banker’s bonus for the ordinary folk who owed the banks money. No wonder Ned and his gang were popular heroes with the locals, many of who, just like today, were under the heel of greedy bankers.

    If I had to decide between Ned and criminal multinational bankers of today, I think I know who I’d name as the outlaws.

    Peter Frost


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