Front Page - WaPo- Tax Sheltered Money from the DR

2020

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There is absolutely nothing illegal about offshoring. Ask the D.R Prez. Many don't agree with wages or how people are treated and dont mind telling others how to spend their money. However when it comes time to pony up, as usual, mum is the word. I am so sure you never use any sugar products!

Disguising your wealth overseas through South Dakota corporations is a favorite way to forego paying taxes.

Oh, yes, taxes.

Whenever it's mentioned we hear "Class Warfare!" - the Republican's favorite dog whistle

"Only the little people pay taxes" - Leona Hemsley (1920-1987), N.Y. Hotelier (Mrs. Helmsley, who became known as the “Queen of Mean” for mistreating her staff and served 19 months in jail for tax evasion.)
 

2020

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That's correct you aren't making money from that business nor are you taking any risk, therefore it is none of your business what they pay their workers, who chose to work for them.

Last time, I checked we're in a free country. I have the right to an opinion - just like I read your opinions in this forum.
 

bob saunders

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Last time, I checked we're in a free country. I have the right to an opinion - just like I read your opinions in this forum.
Never said you didn't have the right to voice an opinion just that it isn't any of your business. say what you want, I am all for that, regardless of how ill formed your opinion is you still have the right to it, except in certain countries north of here.
 
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Disguising your wealth overseas through South Dakota corporations is a favorite way to forego paying taxes.

Your statement should read..........Protecting your wealth overseas through South Dakota Trusts is a favorite way to forego paying taxes. Corporations are treated much better in other jurisdictions. And as been said before, tax avoidance is legal...........tax evasion is not.
Oh, yes, taxes.

Whenever it's mentioned we hear "Class Warfare!" - the Republican's favorite dog whistle
Funny how some countries came into existence over taxes. But that was not a struggle of taxes being placed on the wealthy........rather quite the opposite. How things have changed;


"Only the little people pay taxes" - Leona Hemsley (1920-1987), N.Y. Hotelier (Mrs. Helmsley, who became known as the “Queen of Mean” for mistreating her staff and served 19 months in jail for tax evasion.)

Which circles back to the original post..............and because someone has a tax shelter elsewhere.............there is somehow a predisposition that those people are evading taxes (not legal)...........not avoiding taxes (perfectly legal).

Helmsley evaded taxes and went to prison..............not a shred of evidence was produced in the OP that taxes were being evaded there. But that's not what is important to some, the mere fact that someone has wealth is enough to convince them.

Just curious as to why they did not run a similar piece on the owner of the WAPO............


Respectfully,
Playacaribe2
 
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USA DOC

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As a hard core capitalist, I do agree with supply and demand. But history has showed us that often when the gap between the rich and poor continues to grow larger, it ferments some kind of revolt. In order to be pragmatic, it would behoove the rich to tone it down and give back so the perception is they aren't greedy bastards.

But I don't believe just giving money to people works. They need to learn a trade and become valuable. I'm starting a pilot project in Haiti to do just that. We shall see if I live long enough to see it bear fruit.
Had A lady friend in the USA who was always going to Haiti, and teaching them the egg business... giving them chickens. building chicken coops, and showing them where to sell the eggs....but every time she left they ate the chickens..........
 
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NanSanPedro

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Had A lady friend in the USA who was always going to Haiti, and teaching them the egg business... giving them chickens. building chicken coops, and showing them where to sell the eggs....but every time she left they ate the chickens..........

It's funny but sad at the same time. However, when you're hungry...

Had a friend do the same thing with orphans and tilapia in PAP, although she lived there. The business was going well from all accounts. Then she was executed. Haven't heard anything since then.
 

Big

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Disguising your wealth overseas through South Dakota corporations is a favorite way to forego paying taxes.

Oh, yes, taxes.

Whenever it's mentioned we hear "Class Warfare!" - the Republican's favorite dog whistle

"Only the little people pay taxes" - Leona Hemsley (1920-1987), N.Y. Hotelier (Mrs. Helmsley, who became known as the “Queen of Mean” for mistreating her staff and served 19 months in jail for tax evasion.)
people that offshore (like Pres Abinader) still must pay taxes. All your other comments are off-topic
 

bob saunders

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Disguising your wealth overseas through South Dakota corporations is a favorite way to forego paying taxes.

Oh, yes, taxes.

Whenever it's mentioned we hear "Class Warfare!" - the Republican's favorite dog whistle

"Only the little people pay taxes" - Leona Hemsley (1920-1987), N.Y. Hotelier (Mrs. Helmsley, who became known as the “Queen of Mean” for mistreating her staff and served 19 months in jail for tax evasion.)

The Tax Burden for Low-Income Taxpayers​

Only 1.4% of the $1.45 trillion in taxes paid in 2017 was contributed by taxpayers earning less than $30,000, according to the Pew Research Center.4


It should also be noted that many taxpayers in this income group received income from the government in the form of those refundable tax credits—the IRS paid out about $62 million in earned income tax credits in 2020. The average payment to qualifying taxpayers was $2,461.6






The Tax Burden for Middle-Income Filers​

A study by the Tax Foundation breaks down taxpayers into just two groups: the top 50% of earners and the bottom 50%. The lower half included taxpayers with AGIs of $41,740 or less in 2017. The Tax Foundation found that this lower 50% demographic contributed just 3% of taxes paid in 2017.1


The 2018 edition of the same study indicated that the bottom half of taxpayers paid an effective tax rate of 3.7%. Those with AGIs falling between $50,000 and $100,000, which could be considered middle income, paid an effective rate of 9.25%. AGIs of $139,713 to $197,651 paid an average effective rate of 14%.7



The Tax Burden for High-Income Taxpayers​

Wealthy individuals do indeed pay more in taxes than low-income or even middle-income individuals. It's just basic math.


Even if the tax system were not progressive and everyone paid the same percentage of their incomes, 15% of $30,000 is a great deal less than 15% of $300,000. But we do have a progressive system, so high-income individuals pay higher effective tax rates, even after all those tax credits and deductions are taken into consideration. Those deductions won’t reduce $300,000 to $30,000.


The Pew Research Center indicates that taxpayers with AGIs in excess of $200,000 paid more than half of all taxes collected in 2015—58.9%, to be exact.4


Those with incomes over $2 million paid a 27.5% effective tax rate, triple that of taxpayers who earned less than six figures annually, although the effective rate drops to 25.9% for the super-wealthy who earned $10 million a year or more.4


The Tax Foundation’s study concluded that 96.9% of all 2017 income taxes were paid by the higher-earning 50% of taxpayers.1


The Pew Research Center study indicates that taxpayers earning between $200,000 and $500,000 annually paid an effective tax rate of 19.4% in 2015. Their income taxes represented 20.6% of the total taken in by the IRS. This decreased to 17.9% of the total taxes paid at an effective tax rate of 26.8% for those with incomes between $500,000 and $2 million.4

Almost all countries have progressive income tax, including the DR.​

 

johne

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Disguising your wealth overseas through South Dakota corporations is a favorite way to forego paying taxes.
"Foregoing" is not evading taxes. "Disguising"is also not evading. And even if they were" disguising" there are dozens of reasons for doing that. Dozens, to include; DR has less than stellar reputation as far as political parties. Latin American countries kidnap ppl. for $$$$, DR can collapse very easily with the debt load they are carrying and loss of tourism due to Covid.(I no nothing about inheritance laws or pass-ons in the DR)
Besides the laws of trust in theU.S. must be followed and the method is all above board.
Don't get hung up on someone else 's tax statergies or think they are all illegal. And, if they REALLY wanted to "disguise" their operations there are shelters that would need a lot more "digging" than investigating WP journalists. For sure.
 

chico bill

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Snap4.jpg
 

2020

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Never said you didn't have the right to voice an opinion just that it isn't any of your business. say what you want, I am all for that, regardless of how ill formed your opinion is you still have the right to it, except in certain countries north of here

Oh, please, don't make me laugh anymore

I'm certain you've expressed an opinion on other people's businesses in the past.
 

Big

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free living quarters, food subsidies. Oh I guess in the perfect world they would make a union wage of 30 u.s dollars an hour and get a 15 minute break every hour, family leave and my fav "stress leave" just because