How The Pandora Papers Actually Work - How Money Works
Вставка
- Опубліковано 15 жов 2021
- Sign up for my newsletter compoundeddaily.com 👈
----
The Pandora papers are the latest in a long line on P Papers that have supposedly unmasked the shady dealings of the global elite’s worldwide network of money laundering, tax evasion and corruption.
You have no doubt seen the headlines, and if you are following the story closely you are likely thinking that nothing will really come of this.
It’s been five years since the Panama Papers were released the world and since then they have been followed up by the paradise papers, as well as a series of smaller leaks ultimately confirming what everybody suspected was going on anyway.
Now to an outside observer it is easy to be a bit disheartened by all of this news and simply resign yourself to the fact that these schemes will just happen forever and nothing will really be done to punish the perpetrators. This narrative would certainly be supported by the outlets publishing these stories too, because to be honest… outrage sells.
But it’s not necessarily the case, and perhaps the best way to see this is to do what no stories on this issue have been willing to do, and that is to unpack how this creative international accounting actually functions.
#PandoraPapers #PanamaPapers #howmoneyworks
___________________________________________________________________________
Link to my brand new Patreon 👉 / howmoneyworks ❤️
___________________________________________________________________________
Link To The Capitalists Discord where I hang out with other creators - / discord
Music by Epidemic Sound
Sign up for my newsletter compoundeddaily.com 👈
#77777777778890997653321257998754567
Please update this video as new efforts to suppress those schemes are being made:
- BEPS 2.0 system from OCDE, where tax authorities are all connected and able to quickly check
- Global Minimum Tax
- National list of jurisdictions that are blacklisted by countries for being too permissive
I'm new to crypto trading, how do I get started with the help of a professional
She's on face book
Catherine S. Woods
I believe this guy 1000% when he says he worked in investment banking. "This thing multimillionaires do sucks, time to teach you how to do exactly that." Absolute legend of a channel.
Yeah, the only onstical being the millions of free cash on hand to start with...What it also doesn't state is all the $ to set up the trust. The one "rule" of tje trust being a separate natural person must be in charge of fund distribution (at least on paper), for a beneficiary...
@@brentfarvors192 But if you hit a big lotto win, you now know how to shield that money from greedy relatives.
Every family has that one person who will break the family's financial struggle , I hope you become the one 😊
Assets that can make you rich
Cry-pto
Stocks
Real estate
@@antoniolabrasca9069You're right, it's obvious a lot of people remain poor due to ignorance
Starting early is the best way to getting ahead of build wealth, investing remains the priority
@@jeremygood3246True
Having a job doesn't mean security rather having different investments is the real deal
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again
@@LionTowercoporation who is your financial coach, do you mind hooking me up?
@@LionTowercoporation Thank you. I will search on her site online and do my due diligence. If She seem proficient. I write her an email and scheduled a phone call.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@martingiavarini Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person
@@hermanramos7092 My advisor is Catherine Morrison Evansshe’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@martingiavarini I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
TLDR: equivalent to a financial VPN
TLDW*
The more you know about VPN’s the funnier this is 💀
So, rich people keep getting adds for MoneyVPN when they want to watch a video?
That is so perfect WOW
@@Serby665 No. The ad goes to their holding company.
Technically legal is the best kind of legal.
Lol. It really is
💯
It's the only kind of legal
Lawful evil
It's what I call "Quasi-Legal"...
“Hey guys, today we’re going to learn how to NOT set up a criminal international drug empire-“ is basically this video but for any other type of business. Pure gold 😂
Fortunately (and unfortunately), the process is the same...
This is one of the best informational videos ive ever seen
Note that Ireland's 15% corporation tax only applies to companies with revenues of €750m and above, wonder if this could be avoided by just creating several holding companies with less than that in revenue
Risky. It might be intrepreted as tax evasion scheme. Like it is :D
Ah I figured the government wouldn't give up on their beloved corporations so easily. They'll probably get 3% back in development grants anyways haha
There the Irish Dutch sandwich comes in. The Dutch don't tax revenue from IP at all. So you create a Dutch company that owns the name for your company group and licence it to the other companies. For some reason the fee is such that the other companies don't have any profits. Curious that. There are also tricks with companies giving each other loans and paying surprisingly high (or low) interest.
Also it is applied to only a certain fraction of the NETT gains above a certain threshold. At the end of the day, they keep paying peanuts...
The 15% likely will not change anything. Corporations are not like us they have different expenses based on the type of business they are in so they are all taxed based off their net revenue rather than how we mere mortals are taxed. So lets say Panama charges 15% but allows the company to write off any and everything including expenses that aren't felt by shareholders ( like depreciation) so my evil holding corp pays 15% of zero.
*me in 5th grade
Teacher : What do you want to be when you grow up?
Me : Internationally condemned businessman
@@johnfran3218 Bravo. You've figured it all out.
Go claim your prize at the nearest Wendy's. Tell them the passphrase is "ligma".
It is the same as a medieval peasant dreaming of being a high noble.
Lol. Me too
My dream was as simple as becoming like Indiana Jones
sign me up
Very accurate video. The wealthier the person, the bigger the scheme / structure.
"there's no reason for outrage! it's all PERFECTLY LEGAL" made me laugh because I'm pretty sure the legality is not what people are upset about lol
Law and ethics are completely independent much of the time aren't they.
I mean I guess it kinda is because it once again shows that laws aren't there to protect people but the ruling class
There's a lot of dim-witted people out there who think "law = good".
I'm not upset at all.
This is disgusting!
... I wish I could do this myself though
Commie until rich!
@@FranceGaulGallia lol
I'm devastated that my name ain't on the papers.
How Money Works is really the best top notch in trading.
@@Humster same
26 dislikes. I wonder how many of those are natural persons.
Now 63 bruh
@@watchlistsclips3196 international finance is ramping up the bots 😆
@@andreaslind6338 lmao
128 now
I dislike this video. It starts out saying "This is the best way to protect yourself from lawsuits, and legal problems with companies" and at the end it is saying "This system is used by criminals to hide their dirty money" This video is propaganda. You don't need to be a criminal to want legal protection for your money. 10 years ago having a "SWISS BANK ACCOUNT" was evil, and before that, the most evil thing you can do with your money is have it stored in a cayman islands bank account. Fckin go online, and open a fckn bank account in fckn switzerland and put your paycheck in your swiss bank account. There you go, Criminal
great video, man. as always!
the only thing i noticed is that the paper background changes to fast. it's kinda messing with my eyes
Brilliant video...like this channel. You simplify things a lot. Thanks
Great video. That jet ski jousting league though, sounds like a legit idea.
My ears perked up hearing that, who’s keen to invest? 😂😂
Sounds great, but the safety standards would be a nightmare.
@@ramensenpai2754 not if you have a 'squid game' clause. Though finding insurance underwriters might be another issue.
I can hear your trustee eye-rolling right now
Let's start a discord to get this going.
This explains how we have wealthy people living in homes and driving cars owned by holding companies while declaring an [taxable] income in the poverty region such that they are eligible for and receive government benefit programs and stimulus payments designed for low income households. All this happening while the common folk are hating on the teen who refused to work and took an extra stimmy.
Clever comment! I don t understand how the middle/lower class is so blindly stupid to force on each other this slavery... The richest don t even have to force them, just spread some lies.
Are you talking about Jeff Besoz?
@@jellyfishi_ the comment has nothing to do with that, but the fact that we force our Young's entering a slavery system. Adolescents would be a lot less lazier if they knew they could have a real and developping future.
@@hierotsu How to show utter ignorance of what "slavery" means in two short sentences.
@@dalebetterton5255 I really shouldn't use words like that, you're right. I use the term slavery as a concept (young's, and others, obliged to work for low wages in order to pay the debt that riches forced on them), but it can be understood as it literal meaning. I'm sorry for that. But please, don't simply react and stop calling people ignorant. It just get the conversation and thinking impossible. Have a nice day.
As someone who sets this up for my clients I can confirm this video is legitimate and explains it quite well.
Do you know at what level of turnover or profit it becomes beneficial to set up this kind of structure?
.
@@ALifeOfWine ?
@@richardmatthews7489 ?
@@ALifeOfWine good question!
Just wanted to say this was a really great video again! Thank you very much
lesson learned keep suing the bussiness company they have lots of golds and have fast respawn time.
They have fast respond time but not a ton of gold. Most of the gold is held by boss companies.
Beware of uno reverse cards
Serious question; would $1m be enough to set up a jet ski jousting league?
Just make people bring their own lances and I could see it happening.
And have good insurance.
Countries outside the US have the coolest random sports/competitions. Was watching a tank competition between a Russian team, Chinese team, and an Uzbek team held in Uzbekistan. I was like where are the US M1-Abrams team and German Leopard team?
@@TheChees1996 fuck insurance make people sign liability waivers
@@rufuspub TankBiathlon is a Collective Security Treaty Organisation (aka. Warsaw Pact 2.0) training exercise, with China sometimes attending to compare their machines to the designs they're based on. NATO countries don't attend to avoid letting Russia see the details of the designs, because Abramses and Leopards could end up fighting the T-90s some day.
As someone that works in taxation, this video is gold. The explanation is on point and it’s as clear as it gets for the time frame, great job!
what is such a structure called do u know?
What are the tax benefits of Singaporean trust? Or which country's trust is the best?
@@Nikita-kr7zc the best country is new zealand, specifically the cook islands.
Under this structure that he explains, what type of trust is used to hold the shares of the "holding company"?
You have earned a new subscriber! I loved this video!
Criminally underwatched and undersubscribed channel! Thank you.
"If you are thinking throughout this video, 'if you can't beat them, join them'..." Who are you and how can you read my thoughts?
I’m the protector of Gotham City
@@HowMoneyWorks You missed the opportunity to unironically tell someone "I'm batman." XD
It's not who you are underneath, but what you do that defines you.
@@mrsbasia122 copyright you know XD
@@gadget00 So sue him. If you dare...
Amazing video, thank you so much!
Thank you for making this!
Anyone can set these up, but few have the knowledge and resources to so so or the money to make it worthwhile.
Exactly, it's a clear display of the two distinct ways that rich people are taxed and regulated for everybody else.
It depends on where you live, if you are not a US citizen then it's really easy to do: Start a disregarded LLC in the US owned by a non-us entity which is really inexpensive and lot of people start with this set up until they have money and start moving to better set ups... You still need to pay personal taxes but taxes are not the only reason to do this kind of setups
@@obcane3072 Yes, but relatively few do or know. Financial education is extremely lacking.
This was a cool video . I’ve never had it explained to me before. Cheers
Yeah, so cool.
Keep educating yourself, a decade from now videos like these will be scrubbed off and banned.
yes you have. This is the same concept as having "A SWISS BANK ACCOUNT" ten years ago, and 20 years ago "OOOHHHH you have an evil Cayman islands bank account" As bloodthirsty lawyers get more invasive and more litigious, the people with money will get more protective, and hide thier money better. The majority of the people with these trusts set up are hiding money from Lawyers, because lawyers consider it their job to take as much as they can.
Super informative! You’ve earned a subscriber! 🎉
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading
May I ask which stocks are good? That holds true from long term investing to day trading
a few different ones but want others' opinions as well
what i think you need is a Financial Adviser, who can help you get in and out of any stock you buy at any time and you'd sure be in Profit
who would you recommend?
I work with Cioffibrown Alison who thought me various market I have been able to generate a good profit across high dividend yield stocks, ETF and bonds during this red season.
Quick note here on the coal mine in Brazil example. Brazil taxes the UBO - ultimate beneficial owner - meaning that no matter how many layers of companies or trusts you have, you must disclose the UBO to the tax authority and that natural person will have to pay taxes. That means you need reside somewhere else or else pay taxes here.
That is very common in those schemes, because often countries tax the UBO, specially if they follow OCDE standards. The result is that you don't only choose carefully where your companies are, but you also have to choose carefully where to reside so you don't get taxed as UBO
Very interesting, just curious, at what sort of turnover, and profit levels for a given entity, is all this complexity worth it?
It isn't as much about as profit levels, as, for example, it is normal for startups to already incorporate an offshore structure from the get-go. Depending on your sector's regulation and local tax rates, you can easily calculate if offshoring is the way to go.
To provide you some ballpark numbers: it is fair to say that the setup price ranges from 15k in a cheap jurisdiction (Panama, BVI) and non-compliance with economic substance laws, or up to 80k (USD), in case you do comply and incorporate in an expensive country (Switzerland, Luxembourg). The yearly cost to maintain, I would estimate between 5k - 40k, following the same logic.
For wealthy individuals and wealth management, I have no idea as I never worked with it, but incorporation prices should be the same
%5 of annual revenue vs %40...? Imagine some countries even allow bribes in lieu of taxes...
Interesting 😮
@@brentfarvors192You can get up to 0% in some scenarios and places. That's why the OCDE is trying to set a global 15% tax rate.
It would be nice if we ever get there, but lowering taxes can be a legitimate public policy to attract foreign investments for countries with low population and resources (like islands).
This was a really interesting video! I’m so glad several real actions happened from these papers
This whole topic is so stupid. These are leaked bank accounts. So what? Anyone can fly too cayman on vacation and open up a cayman bank account, and "HIDE ALL YOUR CRIMINAL MONEY" when you put $5 dollars in there. This video is 60% lies.
Excellent summary of the how AND the why.
Thank you for making this informative vidéo! Score one for the good guys.
I always wondered what "Ltd" at the end of every business meant... So it's "limited liability"... I can't believe I realised this in my 30s...
There's limited by liability, and limited by guarantee.
This video refers to LLC. LTD is a wierd hybrid ( at least use most USA states) where some people are just investors and some a day to day operations managers and only one group has limited liability and tether group doesn't.
Congratulations, you're one of today's lucky ten thousand!
@@KoreaRwkz und
The concept of limited liability is taught in the very first class of many accounting courses. It’s good to know the basics.
Great tutorial... I'm setting it up right away
Great work on the video I love your content. That wrinkled paper effect on your graphics in really hard on my eyes, not sure if anyone else has that issue. Just some feedback from a viewer. Again great video!
this is awesome thank you for sharing such great content
Thank you for just explaining the mechanics behind all this. Now I will go have opinions about it, somewhere else.
The only content that actually explained how these schemes work. The news only talks about them without going in detail. Love this channel as after Graham Stephan changed his branding to fit the algorithms I needed something more genuine again
Graham Stephan is still the most genuine UA-camr unlike others that don’t even show their face like HMW
@@luisandrade2254 All of Graham's videos start like this "😱 were all doomed! 🔥💸".....
@@celtekrider2 yeah nowadays he’s gone downhill he’s always repeating himself I feel like his channel has run it’s course but obviously he’s too greedy to let him die who can blame him when you’re making millions? If only his audience quited and he was forced to move into a new project
@@luisandrade2254 Oh believe me times are changing For those guys for 2 reasons.
1. Retail investors are being squeezed for everything due to the Biden admin,, and I don't think hedge funds or institutions gaf about UA-camrs.
2. Even tho clickbait is here to stay, the age of fear mongering for views will flip again. People only click on the 😱 videos due to uncertainty. But again without retail investors with money in the market and wars coming to a head, eventually the last thing people are going to want to see is more bad news.... specially if all the bad news has passed lol.
@@luisandrade2254 greedy? It’s greedy to try and salvage your major source of income? That’s not greedy, that’s just smart. All UA-camrs, public figures, celebrities, etc. will go through periods of growth, hit their peak, and then fall off. It’s just the cycle of entertainment. Graham isn’t greedy or a scammer or something because he won’t give up on his channel smh.
I think you're the only channel in yt who worth to watch
This is my new favorite channel
This is probably one of the most important videos I've ever watched.
Thanks!
If you say so. I highly recommend Patrick Boyle's video on the Pandora Papers. He adds even more detail & nuance.
I was referring to the fact that having a video on UA-cam that explains step-by-step the exact tool the ultrawealthy use to be "financially invincible", free of charge, without restrictions is an amazing thing.
I'm pretty sure that this knowledge is worth huge sums of money, and it's likely that never in history was such a valuable information freely shared.
I’m not gonna lie that jet ski jousting sounds dope af😂 great video man
Sir this is just a suggestion and a request please do try to include the links of the sources and books from where one could further study and research about the topic, it would be more beneficial in educating the people, and for broader audiences like research scholar, entrepreneurs, people interested in knowing more, and students, it may even help you get a few more sponsors (like the website you will use for research) for your time and effort, it's a win-win for both you and your viewers, please do consider. Thank you.😊 Really need these contents.
Thank you. Great video. Verry valuable. This month I already have to start iusing these systems.
I really like your videos and would like to learn more about these kinds of things. I just don't know where to start.
Any good suggestions on books or other kinds of resources on these kinds of topics?
Interesting how it only affects newbies to the business leaving the old guard unscathed with their financial empires intact. Now, it makes sense why all those major CEOs stepped down 2 years ago.
They also stepped down to bring in the next wave of servants to the Neo-CommuniFascist Fourth Industrial Revolution/Agenda2030.
Dude, I didn't want the video to end that was mind-blowing, how to learn more about this ? make a course I will buy it.
Thank you for this good video, I learned a lot! Unlucky that you learn nothing from that in a foundational economics degree
Great breakdown! Love the level headed approach to giving the facts.
I need to write this down, I mean you never know.
Thanks for the advice
13:13 "If you can't beat them join them" You got me 🤣🤣🤣
Even after a year of this video being made it really informative
Always a pleasure to watch your informative videos man. Keep up the good stuff and God bless you!
Really clear and well put. Maybe a bit fast for a layperson I imagine, but a great summary nonetheless. Thanks for the video.
Thanks for the super clear video.
One of the best videos I've ever watched.
joining them is way better than beating them.
Ouch, that's a really complex structure of company. Makes me wonder why noone had ever bother to create law against it.
Thanks for explaining BTW
because politicians are all millionaires, and they use all of this to hide behind. They wouldn’t make a law that doesn’t benefit them.
Because taxation is theft, imagine someone taking 40 - 50 percent of your money and the only thing you actually benefit from is being able to drive on public roads. In a the U.S you could be born to a 18 year old single mother who hasn’t paid a dime in taxes, but applies for food stamps and housing assistance live off of that for 18 years then go apply for the same assistance, do under the table work or cash only so you never pay taxes until you’re 65 and then ride that social security wave until you’re dead🤷🏿♂️
They have, the loopholes determine this structure. But no one has an interest to be too strict as it gives serious competitive disadvantages, just driving money abroad. Also many politicians also invest their money in these structures so they don’t really want to go down to hard on them…
Because it is not illegal to establish companies. It is only illegal to avoid taxes. If you incorporate in a country with a modest tax policy, let's say 15%, there is really no motivation to avoid paying such tax.
@lilscoobynetwork Taxes are how governments get money to then IDEALLY use it on things for the country and it's people. Problem is: big corporations and capitalism have removed morality from the equation and turned money from the means into the end. Taxation is not theft by itself, unless it's like Unity making developers pay for players installing their games.
Very informative. Thanks.
This was interesting. I used to work in Insolvency in Australia. To add something regarding the holding company and operating company side to the structure, there is legislation in Australia that holds a parent company responsible for losses to creditors of a subsidiary if the subsidiary is deemed to have traded whilst insolvent. This highlights the importance of putting the holding company outside of Australia where the trading entity is operating. You have to be careful where the holding company is registered because several “stable” countries with sophisticated and similarly oriented legal systems have begun harmonising insolvency operations allowing a liquidator from country to recover assets from participating countries.
Can you do a video on charities and foundations. Most entrepreneurs are moving away from Trusts, they have a 20 year horizon ( in Canada ) where the portfolio is taxed at 50%. Foundations are what the global elite are using
Jake Tran has an excellent video on using foundations/charities to dodge taxes. Funnily enough, it's sponsored by omaze, about which there is an excellent video on this channel.
Forgot the Charitable Foundation in the equation.
this one is the one I dont quite understand how it adds up to the scheme; you can't just make a foundation to benefit yourself. What would be the point of it?
@@gadget00 tax reduction in the areas you cannot avoid taxes
Instead of paying taxes, you pay into a charitable foundation. No need to pay so many taxes. Now you just happen to be the head of this foundation. You were planning on paying some relatives anyways, now they have bs jobs at this foundation and get a wage(operation expensive). You only have to pay out 5% a year in actual charitable things, just give some snot nosed brats a scholarship or two and your good. Want your foundation to make money, start running fund raising. Want to run for political office and want to take bribes legally….they donate to the foundation. All legal. Jake has a video on it.
I love this channel. Thank you.
Great video. Question. When you mention a trust, are you talking about a living trust or what type of trust?
Can you do a more in-depth video on how to set up these structures? Maybe cover the best 5 countries for each of the stages and why they're best for that stage?
Not so much a finger shake as a tutorial? That'd be great.
i am also willing to learn more about this, i think if you dig deep enough the internet will give you an answer. I own a fairly small olive oil company from greek in germany, and the taxes are higher than i‘d like them to be. but if you ‚only‘ earn your salary, i‘m sure this won‘t make sense for you
😂
Wow!
Keep up with the excellent work ;)
12:55 THIS. Glad someone is finally saying this because its so true
I would like to set up this kind of structure when I am rich. Not because I want to dodge taxes, but because more layers means my identity is not revealed to the wider public.
The bit that always gets me; setting up these schemes is cheaper then the taxes.
I learned some of this working in a cannabis start up.
Having a holding co is required in most states because cannabis is federally illegal so the LLC growing and producing is owned by holding Co that hires a management Co that manages the LLC. I was technically an employee of the management Co and not the garden or extraction lab.
The one thing i dont quite understand about all this is how they avoid taxes. If businesses own businesses upon business, I'm assuming the profits get passed up the chain eventually reaching the beneficiary of the trust by dividends payments. How are those not taxed at 20% or 25% or whatever it is in each country at every single step of the ladder?
Thanks for the video!!
I love how Singapore is the background .
Why is Singapore in the background though
Probably because of our Low cooperate taxes
Interesting video I gotta say. I always wondered how these structures are made, but until now I didn't manage to grasp the simple concepts that make it. This has made me want to ask you if you would consider to make a video, very much in the type of "now you are a millionare.... now what?" video, but the topic being of a business that has manage to grow large enough that can become.... a global company? international company?, I was wondering if you could illustrate the process of how a company goes from national to global. I think with how well you manage this information you could explain it in simple terms that even a layman like me can understand.
he did make a video about that I think
When you become rich, usually you will hire a "money/tax consultant"
That where usually starts, they will offer "how to minimize tax both legally or ilegally"
Good idea, well thoughted 🥳🥳🥳
He did, and mentions it at the end of this video:
ua-cam.com/video/jzWiGACEDwA/v-deo.html
@@zedek_ thats about getting rich suddenly personally. op wants to know how a small company grows
This is truly gold information.
Yes!!! That ending is why I'm subbed to this channel!
Can't change the world. But if rich people wanna show me the way to the top by going first, I'll follow. 😏
This was great! You actually approached this in a way that answers the apathy question in a satisfying way. I like your style - explain in a way that makes sense to a regular person.
You got a like for mentioning Montenegro 👍🇲🇪
Thank you for explaining.
Great video, thanks so much.
This was great, well done
Thanks :)
☝️
DM for my assistant asking about something profitable in Crypto currency. BTC, ALTCOIN, ETHEREUM, CAD..
@@HowMoneyWorks why did you use Singapore as the background in the thumbnail
You hit that one out of the park. This is why gst would be better than income tax. If I spends my money I get taxed. Not like now if I hide my money I rarely get taxes even when I spend it.
Thanks~~~~< for watching_and don't forget••• to hit the like>watsap
➕ ① = ④ = ⓪ = ⑤ = ④ = ⑥ = ① = ⓪ = ⑦ =② =④..📲...
What a beautiful explanation.
So much value, so much game being given right now.
Maybe if the American government didn't waste 99% of our funds, people wouldn't have to avoid high taxes. Wealthy people are essentially taxed more than 50% just from corporate and income taxes, not to mention individual state taxes for where they live.
It's honestly amazing how they haven't fired everyone and moved to another country.
Definitely a controversial topic that has for- and against- arguments. Great video showing the basic structure of these "tax preparation" and "lawsuit mitigation" schemes. Keep making good original content
Hang on, what conceivable argument is there FOR allowing these legal structures to exist?
Is keeps money from entering the public good, and is a massively inefficient allocation of labor resources. All the time and effort spent preventing rich people from paying taxes could be used to build bridges or trains or just take a load off of manual labourers
@@smegleymunroe863 ahm they aren’t illegal lol why should anyone be against financial protection lmao it’s the argument against that is completely non existent just a bunch of angry jealous lefties nothing serious
Pro is that they think they might get rich eventually and have to protect themselves from legal consequences.
@@andras1154 why is being rich a crime to you
This structure obviously doesn't protect from going to jail for being rich. It's a protection from liability and taxes, so they don't have to pay their share to maintain the society they rely on, and don't bear the consequences of their actions.
The goal is power without responsibility or accountability. We can just go back to ruling nobles by divine mandate at that point.
This shot is insane, i need to watch this 100 times to learn how to do the same thing. 😮😮😮😮😮 Thanks
Q: what about incorporating non profits into the mix to legally minimize taxes????
May I suggest either a short on wtf is up with rich kids and trust funds?
I still cant decide wether a global minimum tax is good to stop tax evation for the corrupt super rich, or just a step closer to a World government that will lead to bigger corrupt super rich enteties..
But thanks for the good Video.
maybe for the politicians it will have a loophole, thats for sure
@@deskejtx6211
Already do: "Gifts"
I forget the details, but pretty much they have someone that holds all their companies and other such things while they are in office.. and when they get out of office they get what ever those assets + newly acquired assets back under their control.
This was setup organically to make it so someone couldn't enrich their own company while in office.... but these days it is an easy way to fool the easily fooled since the "gifts" are given to their asset manager instead of directly to the person in office.
Of course it is not good, since it stops governments from competing against each other. It's literally a tax cartel that will result in absolute corruption.
I am 100% sure of the latter. If anything it can even benefit the super riches.
If you anything other than what the letist media stuffs down your throat, you see that thats a bad idea
Great video, but that huge pile of jackfruit in the shopping cart at 8:13 makes me want to cancel my flight out of Thailand tomorrow morning.
I just subscribed. This is good stuff.
This was a really good take. You should do one on transfer pricing.
let me vote for this one again, by leaving a comment.
Getting sued. Yeah about that. Try making business in Germany or Switzerland. Bureaucracy will kill you, but at least if you are sued, the judge will go “Here’s 1000 bucks in damages, now get out of my court room” xD
Well, I had a business in Germany. Had to fight with finance authorities for 5 years until I got money back from them that they took unjustified. Now I live in Cyprus, pay only very little tax, sun and beach every day and they can go and F.... themselves. Everyone who earns money online and stays in Germany is an idiot, honestly. Also no one sues you in Cyprus because it takes like 4-5 years for people to get a court date, haha. They have to be really serious about it, to take that chance. :)
that wealthy businessman who stole the trust initially calling it "adoption" is now the target.