Panama Papers discussion

Just setting this up because I know it will be a hot topic once others read the news. Apparently several news sources are preparing to release a tremendous amount of information; this is perhaps the biggest leak since Snowden (ever?) - http://www.bbc.com/news/world-35918844

Thoughts?

 

Breaking News: Water is wet.

I don't think too much will come of it. Everyone already knew that people like keeping their own money, and everyone already knew that the 'elite' or 'rich' handle their affairs in such ways. Give it a while, and after a bit of back-lash, everyone will have moved on.

 

Agreed, people will preach about righteousness and justice then in a few months time people will move on.

 

It's not much as an uncovering of new information as shinning light on the dealings people have always expected the ultra-wealthy to take part of.

I'm not as cynical as those above me and I do think some changes may occur, but nothing on a huge scale. Well, huge in a sense of anything really being done about this problem. "Small" changes being that of the Icelandic PM potentially being removed and the Brazillian ex-president never going back to Brazil.

 

Oh i do share your belief that 'small changes' such as a change of personnel in the involved parties my occur. Although it's like you said nothing will actually done about the problem, there will always be corruption.

 

Here is an interesting article that covers the situation and highlights the most important takeaways- http://www.vox.com/2016/4/4/11360290/panama-papers-findings-document-leak-explained

It also includes a fun video of the Icelandic PM walking out of an interview when asked about his involvement

 

PM of Iceland resigns. I have a feeling this won't be the last leader/high profile individual to lose his/her job over this. There are a lot of documents and potentially many more hidden assets of world leaders.

We also can't forget that this is only one of many global tax havens. I believe that in the coming decade there will be more leaks which will lead to massive movements against corruption, tax evasion, and money laundering. With the global economy in its current state, money in tax havens could otherwise be used to stimulate world economies.

 

Nothing will happen. Money makes the world turn and some are just better at making it than others. This is nothing new, I can't believe people are actually shocked to hear of tax evasion.

 

The magnitude of the leak is what shocked most. I do believe action will be taken, just not right now (the world is still transitioning to a different type of generation).

 

I haven't looked into this much, but aren't Putin and the PM of Iceland implicated? Is it really surprising to anyone that the people who make the rules for leeching taxes from other people have no interest in actually paying taxes themselves?

 

There are many world leaders that have ties to the papers (mostly through children or their childrens spouses). The president of China has ties to the papers as well. We all know that there are those that evade taxes and with it the law. It's when you have leaders (such as the Chinese president) who lead a relentless anti-corruption campaign, only to find out that said leader is corrupt.