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The Canadian Progressive: Tax havens have no economic justification, 300 economists tell world leaders

“There is no economic justification for allowing the continuation of tax havens,” 300 economists told world leaders ahead of the Anti-Corruption Summit, hosted by UK Prime Minister David Cameron in London on Thursday. The post Tax havens have no econom… . . . → Read More: The Canadian Progressive: Tax havens have no economic justification, 300 economists tell world leaders

Politics and its Discontents: Enemies Of The People

I hardly think that is too harsh a description of both those who park their money offshore to avoid taxes and those who facilitate such evasions. Indeed, an open letter signed by some of the world’s leading economists makes the cost of such selfish and… . . . → Read More: Politics and its Discontents: Enemies Of The People

Politics and its Discontents: We Are All Capuchin Monkeys

Or at least I suspect we will feel like the one on the left in the following video, once the Panama papers releases its database of tax cheats and avoiders this afternoon.Recommend this Post . . . → Read More: Politics and its Discontents: We Are All Capuchin Monkeys

Politics and its Discontents: Panama Papers Aftermath

While the revelations thus far about offshore holdings for the purpose of tax avoidance or evasion have provided us with a glimpse into the lives of those well beyond our pay grade, whether or not they have any lasting effect depends largely, not on th… . . . → Read More: Politics and its Discontents: Panama Papers Aftermath

Politics and its Discontents: The Panama Papers

Marie over at A Puff of Absurdity offers a very good overview of something that is certain to have long-lasting reverberations, The Panama Papers. Be sure to check out her post.The Toronto Star reports the following:In the largest media collaboration e… . . . → Read More: Politics and its Discontents: The Panama Papers

Politics and its Discontents: Remembrances Of Things Past (And Present)

I suspect it is only the very young and the profoundly naive who believe that justice is blind, that all are treated equaly under the law. While a pleasing fiction that governments like to perpetuate, nothing could be further from the truth.Consider th… . . . → Read More: Politics and its Discontents: Remembrances Of Things Past (And Present)

Bill Longstaff: Instruct your MP to support Bill C-621

When it comes to taxes, corporations can be shifty. For example, some shift profits by setting up a storefront office in an offshore tax haven and then sending large invoices back to the Canadian head office charging “management” or “licensing fees.” Another gimmick is for a company to sell a patent to an offshore subsidiary . . . → Read More: Bill Longstaff: Instruct your MP to support Bill C-621

Bill Longstaff: Canada Revenue Agency snubs Parliamentary Budget Officer

It may be hard to believe, but Canadians don’t know the difference between what the government is owed in taxes and what it collects. And we aren’t going to find out. That is the decision by the Canada Revenue Agency (CRA) in response to a request from the Parliamentary Budget Officer (PBO) for information that . . . → Read More: Bill Longstaff: Canada Revenue Agency snubs Parliamentary Budget Officer

Bill Longstaff: Support the tax gap motion

That governments are robbed of billions of dollars by the rich and by corporations exploiting tax havens is a well-known national and international scandal. It is now standard practice for corporations to exploit a variety of often opaque schemes to shift profits into low or no-tax jurisdictions.

The corporate tax rate in Canada, including federal . . . → Read More: Bill Longstaff: Support the tax gap motion

Politics and its Discontents: More On Wealthy Tax Cheats

As noted in a previous post, many of our more prosperous citizens feel no obligation to the country that made their great wealth possible. Rather, they are quite happy to hide it in offshore financial institutions, which, while being ethically questionable, is not illegal. However, many of them are also committing crimes by . . . → Read More: Politics and its Discontents: More On Wealthy Tax Cheats

Politics and its Discontents: The Scourge of Wealth

I often think of the famous line from the New Testament in which Jesus says “It is easier for a camel to go through the eye of a needle than for someone who is rich to enter the kingdom of God.” Some say the reference is to a gate in Jerusalem called the Needle”s . . . → Read More: Politics and its Discontents: The Scourge of Wealth