Cameron Tax Dodger

BobQ

C_Mababejive wrote: »

Anyway, at what point did any of us agree to pay any tax?

Every election.

kabayiri

Generali wrote: »

Because the fund gets to operate under a simpler tax structure which makes the fund cheaper and easier to run.

Presumably they can quantify this as an improved rate of return then?

I'm not sure they have explained this very well. When people are in the dark, they end up thinking the worst.

I also don't quite get the obsessive desire for secrecy. Are rich people embarassed to reveal just how many havens their money is spread across?

Don't they get that secrecy is a really big draw for criminals intent on masking the proceeds of crime?

Generali

kabayiri wrote: »

Presumably they can quantify this as an improved rate of return then?

I'm not sure they have explained this very well. When people are in the dark, they end up thinking the worst.

I also don't quite get the obsessive desire for secrecy. Are rich people embarassed to reveal just how many havens their money is spread across?

Don't they get that secrecy is a really big draw for criminals intent on masking the proceeds of crime?

The fund I ran was based in the Cayman Islands. I'm sure that they have powerful secrecy laws but their existence was immaterial to our fund. It was the very simple tax rules that attracted us.

ruggedtoast

David Cameron, and it appears most of the posters on this thread, know everything about the legal issues involved in paying tax, and nothing whatsoever about the moral issues.

Yes it is legal to earn money in the UK, from people who live work and pay their own taxes in the UK, then hide that money away in a tax haven using a flimsy pretext that the account manager had a firm handshake.

It does not however, make it in any way right. Ordinary people who don't earn enough to have account managers and portfolios in the Cayman Islands are justifiable furious that a government that already comprises a large proportion of the UK's 1% and their mates, is not only cutting services due to diminished tax receipts, but not even paying tax on their own investments.

Finally from an economic point of view it is not in any way helpful. Capitalism only works by definition if people accrue capital and then use it to invest in things. Having trillions of dollars sitting in tax havens doing nothing is just pointless hoarding.

And how the piggies are squealing. After decades of the wealthy saying that they are all self made and its just hard work, the cries of anguish that they emit when it is suggested they might like to operate under the same regime as the people who vacuum their offices and clean their cars is something to behold.

Change is coming. None of you like it. But you are getting it just the same.

Moby

ruggedtoast wrote: »

David Cameron, and it appears most of the posters on this thread, know everything about the legal issues involved in paying tax, and nothing whatsoever about the moral issues.

Yes it is legal to earn money in the UK, from people who live work and pay their own taxes in the UK, then hide that money away in a tax haven using a flimsy pretext that the account manager had a firm handshake.

It does not however, make it in any way right. Ordinary people who don't earn enough to have account managers and portfolios in the Cayman Islands are justifiable furious that a government that already comprises a large proportion of the UK's 1% and their mates, is not only cutting services due to diminished tax receipts, but not even paying tax on their own investments.

Finally from an economic point of view it is not in any way helpful. Capitalism only works by definition if people accrue capital and then use it to invest in things. Having trillions of dollars sitting in tax havens doing nothing is just pointless hoarding.

And how the piggies are squealing. After decades of the wealthy saying that they are all self made and its just hard work, the cries of anguish that they emit when it is suggested they might like to operate under the same regime as the people who vacuum their offices and clean their cars is something to behold.

Change is coming. None of you like it. But you are getting it just the same.

I like the change you hope for a lot. The technological capacity to expose such dark corners of dubious activity is hopefully going to have a big impact in future. Its good to hear the Tory piglets squealing...........'he's done nothing wrong ' wail wail.........
:rotfl:

Generali

ruggedtoast wrote: »

David Cameron, and it appears most of the posters on this thread, know everything about the legal issues involved in paying tax, and nothing whatsoever about the moral issues.

Yes it is legal to earn money in the UK, from people who live work and pay their own taxes in the UK, then hide that money away in a tax haven using a flimsy pretext that the account manager had a firm handshake.

It does not however, make it in any way right. Ordinary people who don't earn enough to have account managers and portfolios in the Cayman Islands are justifiable furious that a government that already comprises a large proportion of the UK's 1% and their mates, is not only cutting services due to diminished tax receipts, but not even paying tax on their own investments.

Finally from an economic point of view it is not in any way helpful. Capitalism only works by definition if people accrue capital and then use it to invest in things. Having trillions of dollars sitting in tax havens doing nothing is just pointless hoarding.

And how the piggies are squealing. After decades of the wealthy saying that they are all self made and its just hard work, the cries of anguish that they emit when it is suggested they might like to operate under the same regime as the people who vacuum their offices and clean their cars is something to behold.

Change is coming. None of you like it. But you are getting it just the same.

Pretty much anyone that has a defined contribution pension fund will have money held offshore. This is not a them versus us thing, it's a lot of people not having a clue what they're on about thing.

Generali

Moby wrote: »

I like the change you hope for a lot. The technological capacity to expose such dark corners of dubious activity is hopefully going to have a big impact in future. Its good to hear the Tory piglets squealing...........'he's done nothing wrong ' wail wail.........
:rotfl:

What do you think Mr Cameron has done wrong?

Moby

Generali wrote: »

Pretty much anyone that has a defined contribution pension fund will have money held offshore. This is not a them versus us thing, it's a lot of people not having a clue what they're on about thing.

Difference is they have not planned this intentionally. Not the same thing at all.

Moby

Generali wrote: »

What do you think Mr Cameron has done wrong?

Read my posts on various threads.

Generali

Moby wrote: »

Read my posts on various threads.

Ah, I see. I was wondering if you had actually found something wrong he had done rather than something in your imagination.