For the last time: the richest person in the world is not bill gates or elonmusk. The richest person in the world is some random drug lord
I do not understand how is completely ok with this, does he not know that when this happens…WE have to pay more of porky’s taxes for him? This isn’t just a tax revolt, it’s literally footing the bill to us.
I think you would be surprised at how much of it is in LLCs in Delware or trusts in South Dakota, there are plenty of tax loopholes domestically as well, most people under hundred-millionaire status are not doing panama papers type stuff
https://www.investopedia.com/financial-edge/1212/average-net-worth-of-the-1.aspx
As of 2019, the top 1% of household net worth in the U.S. starts at $11,099,166.
It depends what you mean by public records, if you’re a private investigator or really good at digging through records you can find things, but it’s not like it’s easy and even then it’s only the stuff that needs to be reported by law which is not a lot, the only reason I mentioned Delaware is it’s famous for being a destinination for LLCs which people use to hide their money
https://www.theguardian.com/us-news/2016/apr/06/panama-papers-us-tax-havens-delaware
“You don’t really have to go to Panama or other tax havens. They are not the only ones making it possible for corrupt officials and other criminals to launder their money. You can do it in every state in the US,” explained Shah.
“In every state in the US, you can incorporate an LLC – [a limited liability company] – or another legal entity and you don’t have to disclose who the beneficiary on it is. In fact, Delaware is so synonymous with anonymous companies and ghost corporations that it was named in Transparency International’s Unmask the Corrupt campaign as one of the most symbolic cases of corruption.”
read more here if you’re curious
Silly Americans’ geography knowledge is so bad they don’t even know they’re looking at the mirror globe.
