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Showing posts from 2016

Rich people do rich things.

Recently my brother-in-law shared a leaked document of Panama Papers that showed many different people all over the world using offshore accounts to hide money from the tax man. Everyone is outraged and I can only think to myself... "and so what?" I love the fact that it is open information, but without context it is just one piece to a much larger puzzle.

Large companies if they are international, or not use shell companies or offshore companies to move money around in order to avoid paying taxes. This practice is legal, and while it outrages us a little, it is an option for those who can afford to find havens for their money.

Why these people have chosen to move their funds off site is probably about wealth management. Speculation is just so juicy, news organizations would not resist this type of story. I caution us all that while I don't like the fact that people are doing this, it isn't illegal under the right pretense. Until we make international companies pay t…