Paradise Papers

[maryjane48]

Funny the right dont want to put any blame on mulruney yet hes in there

[jimmy4321]

Lol
Go figure the only money he can take care of is his own.
Canada was in hard shape when he was done with it.

[maryjane48]

https://globalnews.ca/news/3845754/para ... -problems/


This is the. Reason this thread is a,joke. When its a rightwinger involved we hear its good buisness .

[Snman]

Jari Kurri was a great right winger. I hope he was not involved.

[hobbyguy]

GF - reminder: http://o.canada.com/business/federal-government-plans-to-slash-millions-hundreds-of-staff-from-canada-revenue-agency-compliance-programs

Yup. Harper and his minions did lots to make this problem go away - NOT.

There are indeed logical, legitimate and reasonable reasons for individuals/corporations to have offshore accounts. E.G. if they own properties and/or businesses abroad and require liquidity for international purposes.

There are also some shady uses. Harper and crew did less than zero to curb them.

I don't have an answer other than more enforcement by CRA.

[Chyren]

If you were rich would you want to pay taxes? I saw the line that said "moved wealth that had already been taxed" which means that in fact, taxes had been paid on that money.

When you think of it isn't it funny how often we pay taxes on the same item?

For example, you buy a new vehicle and pay taxes. Then you sell the vehicle to a new person who had to pay taxes on the same vehicle. Then they sell it later and the new person pays taxes on the same item. Then the vehicle gets stripped down for parts and you pay taxes on those if you buy the parts....

I know it looks stupid for the Lib's but in reality we all complain about paying taxes. If something illegal has happened then go get them Canada Revenue Agency....in a Liberal controlled government I'm certain the Liberal hired tax hunters will go after them....yes this is sarcasm.

[The Green Barbarian]

Jean Chrétien lobbied for an East African oil venture called Madagascar Oil. A register of the company's investors lists him as the recipient of 100,000 stock options, but Chrétien told CBC/Radio-Canada he never got, or even heard of, any such options. He confirmed he did briefly do some consulting for the company, and his law firm at the time, Heenan Blaikie, was paid for his work.

https://www.google.ca/amp/www.cbc.ca/amp/1.4387338

Since some left wing posters fail to be unbiased lets review. When this comes up all we hear from left wingers is how legal it all is and a good thing for canadians . But. If its someone they dont like then all of a,sudden it is crime haha . The hypocratic left has not let us down as their is a,thread already blaming an old Conservative pm when other Liberal pm's are. Neck deep in it also

[The Green Barbarian]

Funny the left dont want to put any blame on Chretien yet hes in there

[whitecandle]

Mulroney is named in the Paradise Papers so why aren't you up in arms over his involvement? Correction - alleged involvement which can be applied to all until proven otherwise.

[alfred2]

Funny the right dont want to put any blame on mulruney yet hes in there

how do you know?He and creten martin all the ones that helped set our tax laws. Now we have the worst prime minister in history his son the pm doing the same. Name them all not just one.

[Omnitheo]

Funny the right dont want to put any blame on mulruney yet hes in there

how do you know?He and creten martin all the ones that helped set our tax laws. Now we have the worst prime minister in history his son the pm doing the same. Name them all not just one.

Trying to make sense of what you’re saying here. I will disregard the subjective rant of your post, and look at the objective data. You’re saying that Trudeau did this? But the OP’s post, and the papers themselves say it was a campaign fundraiser who did this. Not Trudeau himself, as appears to be the case for other past PMs. I recall Trudeau made a lot of statements about their family’s wealth when we had the Panama papers leak previously.

http://www.cbc.ca/beta/news/politics/tr ... -1.3526183

You won't find the name Justin Trudeau in the leaked documents that sparked an international furor over tax avoidance, the prime minister insisted Thursday during a brief stop in northern Ontario.

Trudeau, in Sudbury, Ont., to make an infrastructure announcement, said he has been fully open with Canadians about the investments he holds.

The prime minister was unequivocal when asked directly whether he or any of his family members hold cash or investments in offshore accounts.

"No, we do not," Trudeau said as some in the audience chuckled. "I have been entirely and completely transparent about my and my family's finances."

Trudeau said the Panama Papers have highlighted the concerns that people around the world have about political leaders and other powerful corporate figures using offshore accounts and tax havens to avoid paying taxes.

And he pointed to measures announced in his government's first fiscal plan as proof that he is determined to find tax cheats.

"In this budget, even before the Panama Papers came out, we had allocated an extra $440 million to the Canada Revenue Agency to ensure they are empowered to go after tax avoidance," Trudeau said.

Canadians expect their leaders to show they are worthy of their trust, while leaders need to trust Canadians enough to share details about the assets they hold, Trudeau said without directly mentioning anyone implicated in the scandal.

A massive leak of more than 11 million documents from Panama-based law firm Mossack Fonseca — one of the world's largest creators of shell companies — has been dogging political leaders around the world.

The unprecedented leak of details about assets being held in tax-sheltered offshore accounts had one of Canada's biggest lenders, the Royal Bank, on the defensive this week over its ties to the law firm.

Media reports have linked hundreds of wealthy Canadians to the controversy.

What we should be asking though, is what the effect of that extra investment to the CRA has had? Were they aware of any of this? Was anything being done before we had yet another leak. How come we haven’t heard anything about recovered taxes from those hiding money overseas?

[Queen K]

GF - reminder: http://o.canada.com/business/federal-government-plans-to-slash-millions-hundreds-of-staff-from-canada-revenue-agency-compliance-programs

Yup. Harper and his minions did lots to make this problem go away - NOT.

There are indeed logical, legitimate and reasonable reasons for individuals/corporations to have offshore accounts. E.G. if they own properties and/or businesses abroad and require liquidity for international purposes.

There are also some shady uses. Harper and crew did less than zero to curb them.

I don't have an answer other than more enforcement by CRA.

I've picked up your post to quote Hobbyguy because it's going to back up what I'm about to say:

Seems that wealth management crosses all political and socio-economic stratas: Liberal, Conservative, like NDP if they have the chance.

The Paradise Papers are being released now? And to what ends? This seems like a calculated move to deeply embarrasss and further polarize Canadians. Do I have a tin foil hat on? Maybe. But this time we have to look at the purpose of the Paradise Paper's objectives.

Here we have Liberal and Conservative supporters at each others throats, right here in Gone Fishi''s thread. When let's face it: "they're all in there ".

Ask yourself the deep question: Why and why now?

[hobbyguy]

Actually, Queen K, you are correct. "Looking the other way" was done by the Conservatives as well.

While having top tax rates around 70% was too high, the tax cutters and avoiders have gone much too far in the other direction. We also have to recognize that this isn't a political party problem, it is a systemic problem.

We have to get back to the 1966 Carter commission report that Diefenbaker commissioned. "A buck is a buck". http://www.thecanadianencyclopedia.ca/en/article/royal-commission-on-taxation/

Everyone should contribute to the country that has made us all wealthy (by world standards) in accordance with our ability to do so.

By the way (and not in response to QK), not everyone dislikes paying their fair share. I don't mind paying my fair share of taxes, but what makes me grouse is others who don't and wiggle out of as much as possible and cry about contributing to Canada.

That's really the issue. Those, especially those who are high on the hog, who duck taxes every legitimate plus sleazy way they can. They were the kids who when there were enough cookies for one each would try to take two or three, That is, until gramma got them with the wooden spoon. We need a wooden spoon!

It starts with lobbying, which is what gives these thieves the ability to get the rules twisted their way. The only way to get rid of thatis real electoral reform, leave FPTP (PR is a sham) and add 15% of the seats for common citizens by lottery. Then drop the party contribution to individuals only and $100/year. Fund Elections Canada to provide equal communications platforms for every candidate, then the parties can do what they want with $100 contributions. That locks out the lobbyist corruption.

This article provides some perspective on the damage this nonsense is doing to our western liberal democracies:

http://www.abc.net.au/news/2017-11-07/paradise-papers-why-tax-avoidance-matters/9123850

"In Australia, public schools — which once provided a means of social advancement — have increasingly become a repository for the disadvantaged.

"If the current trends continue, if we allow our corporate tax revenues to drain to nothing … we'll be increasingly unable to provide these things," Matt Gardner, a senior fellow at the Washington-based Institute on Taxation and Economic Policy, told the ABC's Four Corners program.

"An indirect but far more corrosive effect is on the public's view of our institutions."

If the middle class and the working class are bearing a disproportionate share of the tax burden, trust in democracy is undermined.

"When it's documented as well as it has been that companies like Apple and Google and Microsoft — these incredibly profitable companies — are just able to use the tax system like a piñata, that just reinforces the belief that no-one cares about the plight of middle-income families," Mr Gardner said."

This isn't a "left" or "right" or "liberal" or "conservative" issue. This is an issue for all of us.

[Bsuds]

Why not just come up with a percentage that covers all people and business's that eliminates all other taxes.

Everyone pays!

If anyone is caught trying to avoid paying their share then it jumps to 90% of what they are trying to hide.

[Ka-El]

Since some left wing posters fail to be unbiased lets review. When this comes up all we hear from left wingers is how legal it all is and a good thing for canadians . But. If its someone they dont like then all of a,sudden it is crime haha .

I don't think I have ever read a post by a left-wing poster saying tax evasion or tax loopholes are a good thing. Maybe you could find a quote somewhere for us? I do remember certain right-wing posters saying there were no such thing as tax loopholes - at least, until they could blame a Liberal of doing it and then there were. Still, the best part is when Mr. "I stopped reading when" started telling everyone else they should be open and objective. The hypocritical right never disappoints. haha