Offshore bank at the centre of enormous worldwide tax evasion investigation
In a major exclusive involving 60 MINUTES, The Age, The Sydney Morning Herald and The New York Times, reporter Nick McKenzie reveals extraordinary details about a five-nation investigation targeting wealthy Australians accused of tax evasion.
Code-named Operation Atlantis, its aim is to recover hundreds of millions of dollars stashed away in faraway banks – money that has been ripped-off from ordinary Australians.
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In the late 1930s, the Federal Reserve Board refused to admit it was a government institution. So Patman convinced the District of Columbia’s government to threaten foreclosure of all Federal Reserve Board property; the Board quickly produced evidence that it was indeed part of the federal government.
The bug is not in the banking system. The bug is in the basic motto of all this allegations.
Taxes should not be a percentage. It should be a fix service fee per customer (citizen).
And it’s ok for the rich to pay higher fee for vip services from the government, and a “social extra” to pay instead of the poor who cannot.
But the whole idea that officers who do nothing for anybody but themselves will be financed and spoiled by the more taxes he can catch from people who working their ass of to urn it, is a wrong concept. This is the original sin.
Fair taxes must start with fair value for what the people get in return.
Every rich is happy to pay $1 million for a Rolls Royce but none of them is stupid to pay even $1,000 for a broken Toyota.
The way to fight against tax evasion is to give back fair value in return.
And the way to fight financial crimes, is not to manipulate the term money laundering as terror, drugs, and tax crimes. Terror and drugs are real crimes. Taxes is by itself a corruption financing and should be in public debate and dispute. Not always a crime.
People who did not pay their taxes to Hitler was not criminals. And so are people who refuse to pay taxes to corrupted leaders. Do not mix and do not downgrade the interest to fight against real crimes and taxes. It’s not the same.
Government it’s a give and take, not take and take. What people really get for all the direct and indirect taxes they pay. This is the question to begin with. Paying a lot of money for luxury services was never a problem for any rich person.