Kind of like not frequenting a particular restaurant because the chef can't cook, the service is horrible, and the prices are sky high.....then having that terrible crew barge into the restaurant that you ARE eating at and shaking you down for a meal you never had at their shabby restaurant! Unbelievable!
The problem is that london is only important as a finical hub right now because of the various tax havens that allow you to do buiness via the city of London
Some countries (like the US) are so worried about getting more tax money. They should spend more time figuring out how to better spend tax dollars and maybe they won’t need to charge so much tax and people/corporations wont mind paying taxes.
I wish that your concept were feasible but they have become entitled to spend incomprehensible amounts of money very very inefficiently on a system of absolute corruption. When people look at KYC and Anti-Money Laundering what they generally don't understand is that they really just don't want the competition for their own money laundering. The USA owns the biggest laundromats in the world.
Spending it to prosecute and go after tax havens and tax avoiders sounds pretty good to me. Pretty good return on the money spent, statistically. It's not like rich people do any actual work. Slay the dragons, raid their hoards, I say.
Excellent video! I totally agree with you Michael. Anyone demanding people pay more tax aren't the brightest of people - I would even suggest they are petty and jealous. They obviously have a political axe to grind. Shame on them.
They are always extreme hypocrates as well. Themselves will happily evade, everytime possible should an opportunity appear. What they really want is for you to pay for them. Useless f*cks!
Excellent content and well presented. Would I rather pay 35% tax to the US or 10% to a country like Paraguay? It is NOT the amount so much as what the governments actually spend the tax funds on.
The irony is that most Americans don't realize that they can set up entities that allow them to 0-3% to the federal gov't annually. This is not limited to "tax havens". One could live in the best areas in the US and pay almost nothing but no-one seems to know this.
Incentive wise, when you have an island with 50k inhabitants there is a limit to the harm that sanctions can have. The on the ground reality is that you don't need a lot of dry powder for 50k people.
Apart from transfer pricing issues or tax shopping, if I have a foreign company running a foreign operation and paying only foreign taxes, that makes sense to me. But this is the good old source base taxing concept. When someone invented a residence base taxing concept, everything had changed. I disagree with the residence base concept because on top of income tax, we are already paying multiple residence related taxes, like sales tax or vat, council tax, carbon tax, different types of licences, etc. The next question on how efficient tax money is spent. I always think that is related to the economic model a country has. For a true capitalist, obviously money is thought to be best spent in the market by market participants. For a socialist or welfare heavy country, there is a tendency to believe redistribtuion of wealth is best managed by the government. Well, US is still the most competitive country in the world. Taxes discourage growth and, yes, using taxes to generate income is probably an outdated comcept.
Oops, I am supposed to pay 25% corporate tax plus 56% personal income tax plus 19% VAT plus 3-5% indirect tax - cummulated 75-80% overall. Beside the fact that "tax" is the major expense and it is my job to cut on any expenses, no one asks the question, what we could achieve, if we stop funding silly governments but invest in assets and/or employees instead...
Ireland isn't an overseas territory ok the UK. We are a fully independent Republic. The small portion of Ireland that belongs to Britain has no tax benefits and is not used by apple etc as part of Irish Dutch sandwich
Taxes does not create drinking water. They relocate total market shares for goods and services but they do not create those goods and services. In order to create drinking water by a tax you most use the tax money to take resources that have to do with drinking water from somone that have them today and give them to somone else tomorrow.
I was reading an article that talked about how if there was no tax evasion and corruption I'm brasil then tax rates could be halfed and they would still colect the same amount of moeny
These are people that think that they have a right to steal other peoples wealth. That said, direct taxation like Sales and VAT are far more simple and efficient to collect. The only reason to collect other taxes is control; they want you to submit to them like they are your god.
That will simply result in most if not all inhabited Overseas British Territories establishing independence. Technically, there is a legal process for the territories to separate from the British sovereignty.
Great video. I agree that the structural causes of poverty are not likely to be simply solved by increased taxation. Education, policing, laws and the justice system, social safety net, and culture are more likely to be determinate. My city pours money down rat holes trying to solve social issues with little regard to the root causes or for the efficiency of the organizations tasked with making improvements to the lives of citizens. Personal philanthropy is more efficient and impactful at the micro scale. However, some philanthropy in the US is driven not by need but by the pet projects of the donor - be it maintaining a building glorifying some long dead ancestor, or diving into the depths to find sunk WWII battleships. These hardly meet the standard of “public goods” and yet they qualify for tax relief. I think the Australian approach may be better in that respect - that non-profit status and tax relief only goes to carefully scrutinized organizations and is granted through an act of the legislature.
Lagarde still can't account for those missing tens of millions of euros from when she was the French treasurer. The imf need to clean up their own backyard and start paying tax themselves on top of that
Taxation is designed for everyone. It is WITHOLDING taxes that individuals pay for their benefit, as well as companies and corporation, since it is important not to be in companies or transact in companies that ALREADY has records of TAX EVASION, FRAUD and METAL markets MANIPULATION, together with their AI that made many poverty stricken. These OFSHORE and ONSHORE companies that are not PAYING TAXES or is/are not SEC compliant in its REGISTRATION shall be DELISTED, SUSPENDED, and REMOVED. The legal practice of cessation of licenses is to be applied in order NOT TO REVERSE or FLIP end up with the same outcome.
This could be seen as a modern version of a debate between a logician and rhetorician. I personally tend to bias rather extremely towards the logical and against the rhetorical but it is useful for entertainment or for when making certain types of arguments like in legal matters -"if the glove don't fit you must acquit ''. I'm not saying he was guilty or innocent but rather that statement is pure rhetoric and so is most of what you read from that article.
those countries can just file to independent in keep it going. i think they are mad because a country who made say 1mil overseas but only bring 500k back they only get to tax that 500k instead off the 1mil
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Truly appreciate the clearheaded analysis of this. And beyond the emotional gaslighting that is so prevalent in media in different forms. And thank you for all the insights!
A fly on the wall production: King Charles wringing his hands and paceing in chambers...but john I cannot just do away/whitewash all of the UK's tax havens...I could do 3 maybe 4 of them...I have money in the rest.
Kind of like not frequenting a particular restaurant because the chef can't cook, the service is horrible, and the prices are sky high.....then having that terrible crew barge into the restaurant that you ARE eating at and shaking you down for a meal you never had at their shabby restaurant! Unbelievable!
The problem is that london is only important as a finical hub right now because of the various tax havens that allow you to do buiness via the city of London
And this has to change. This will change
@@adelinad3513 Hahaha, then London will no longer be a financial hub. Have fun staying poor then.
How dare people not want to let us steal half of their earnings.
On social media there is an incentive to create sensational content. Well thought out opinions like this are refreshing.
You are absolutely right, the concept of taxation is hugely outdated.
Word!
It’s slightly less obsolete than slavery, guillotine and muskets
@@anonoway3045 Somalia's thatta way.
How much tax money did his coronation cost again ? How much taxes do the windsors pay ?
Yea and how much of collected taxes do they RECEIVE?
Hes just another WEF puppet and he rubberstamped allowing MRNA technology into our food , lovely
They paid zero pounds in inheritance tax.
Some countries (like the US) are so worried about getting more tax money. They should spend more time figuring out how to better spend tax dollars and maybe they won’t need to charge so much tax and people/corporations wont mind paying taxes.
I wish that your concept were feasible but they have become entitled to spend incomprehensible amounts of money very very inefficiently on a system of absolute corruption. When people look at KYC and Anti-Money Laundering what they generally don't understand is that they really just don't want the competition for their own money laundering. The USA owns the biggest laundromats in the world.
Spending it to prosecute and go after tax havens and tax avoiders sounds pretty good to me. Pretty good return on the money spent, statistically. It's not like rich people do any actual work. Slay the dragons, raid their hoards, I say.
@@Eldeecue Actually, research shows that spending money on going after tax avoiders is *terrible* return on investment. Often negative, actually.
Excellent video! I totally agree with you Michael. Anyone demanding people pay more tax aren't the brightest of people - I would even suggest they are petty and jealous. They obviously have a political axe to grind. Shame on them.
Exactly !
They are always extreme hypocrates as well. Themselves will happily evade, everytime possible should an opportunity appear.
What they really want is for you to pay for them.
Useless f*cks!
Marxist ideology pure and simple.
Excellent content and well presented. Would I rather pay 35% tax to the US or 10% to a country like Paraguay? It is NOT the amount so much as what the governments actually spend the tax funds on.
yeaup my thoughts exactly.
Name one which actually spends it on something wortwhile, please…
I’m waiting….
No can do?
Exactly, that’s what i thought
The irony is that most Americans don't realize that they can set up entities that allow them to 0-3% to the federal gov't annually. This is not limited to "tax havens". One could live in the best areas in the US and pay almost nothing but no-one seems to know this.
Well said they are thieving bastards you couldnt make it up half the time and their theft never gets investigated ,
@@anonoway3045 The CUNA countries are laundromats.
Incentive wise, when you have an island with 50k inhabitants there is a limit to the harm that sanctions can have. The on the ground reality is that you don't need a lot of dry powder for 50k people.
Thank you for the honorable mention.
Apart from transfer pricing issues or tax shopping, if I have a foreign company running a foreign operation and paying only foreign taxes, that makes sense to me. But this is the good old source base taxing concept. When someone invented a residence base taxing concept, everything had changed. I disagree with the residence base concept because on top of income tax, we are already paying multiple residence related taxes, like sales tax or vat, council tax, carbon tax, different types of licences, etc. The next question on how efficient tax money is spent. I always think that is related to the economic model a country has. For a true capitalist, obviously money is thought to be best spent in the market by market participants. For a socialist or welfare heavy country, there is a tendency to believe redistribtuion of wealth is best managed by the government. Well, US is still the most competitive country in the world. Taxes discourage growth and, yes, using taxes to generate income is probably an outdated comcept.
So they are mad at the rich for using the rules and codes that they made legal 😂😂
The codes and loopholes were only for themselves
Oops, I am supposed to pay 25% corporate tax plus 56% personal income tax plus 19% VAT plus 3-5% indirect tax - cummulated 75-80% overall. Beside the fact that "tax" is the major expense and it is my job to cut on any expenses, no one asks the question, what we could achieve, if we stop funding silly governments but invest in assets and/or employees instead...
Ireland isn't an overseas territory ok the UK. We are a fully independent Republic. The small portion of Ireland that belongs to Britain has no tax benefits and is not used by apple etc as part of Irish Dutch sandwich
Taxes does not create drinking water. They relocate total market shares for goods and services but they do not create those goods and services. In order to create drinking water by a tax you most use the tax money to take resources that have to do with drinking water from somone that have them today and give them to somone else tomorrow.
I was reading an article that talked about how if there was no tax evasion and corruption I'm brasil then tax rates could be halfed and they would still colect the same amount of moeny
These are people that think that they have a right to steal other peoples wealth. That said, direct taxation like Sales and VAT are far more simple and efficient to collect. The only reason to collect other taxes is control; they want you to submit to them like they are your god.
Fantastic content as usual.
That will simply result in most if not all inhabited Overseas British Territories establishing independence. Technically, there is a legal process for the territories to separate from the British sovereignty.
Do you see that happening? How do you think things will play out?
Great video. I agree that the structural causes of poverty are not likely to be simply solved by increased taxation. Education, policing, laws and the justice system, social safety net, and culture are more likely to be determinate. My city pours money down rat holes trying to solve social issues with little regard to the root causes or for the efficiency of the organizations tasked with making improvements to the lives of citizens. Personal philanthropy is more efficient and impactful at the micro scale. However, some philanthropy in the US is driven not by need but by the pet projects of the donor - be it maintaining a building glorifying some long dead ancestor, or diving into the depths to find sunk WWII battleships. These hardly meet the standard of “public goods” and yet they qualify for tax relief. I think the Australian approach may be better in that respect - that non-profit status and tax relief only goes to carefully scrutinized organizations and is granted through an act of the legislature.
Australia gives it's politicians tax free diplomatic status when they are appointed abroad to most positions.
I believe we should read King Charles’ words in a sense of the forthcoming Pillar II. Great idea for a future video! Cheers!
I think that the accountability should only based on how it could affect others safety or if the entity is contracting with a military organization.
8:22 is the key. No government will make a change to these policies because the leaders themselves are using these strategies.
Lagarde still can't account for those missing tens of millions of euros from when she was the French treasurer. The imf need to clean up their own backyard and start paying tax themselves on top of that
Taxation is designed for everyone. It is WITHOLDING taxes that individuals pay for their benefit, as well as companies and corporation, since it is important not to be in companies or transact in companies that ALREADY has records of TAX EVASION, FRAUD and METAL markets MANIPULATION, together with their AI that made many poverty stricken. These OFSHORE and ONSHORE companies that are not PAYING TAXES or is/are not SEC compliant in its REGISTRATION shall be DELISTED, SUSPENDED, and REMOVED. The legal practice of cessation of licenses is to be applied in order NOT TO REVERSE or FLIP end up with the same outcome.
This is simply not accurate
Its a necessary move for societies, but governements should learn to treat its laying egg citizens way better than they do now
I would say necessary for some societies. Other places get along just fine tax free.
But but but but... THE CHILDREN!!!
This could be seen as a modern version of a debate between a logician and rhetorician. I personally tend to bias rather extremely towards the logical and against the rhetorical but it is useful for entertainment or for when making certain types of arguments like in legal matters -"if the glove don't fit you must acquit ''. I'm not saying he was guilty or innocent but rather that statement is pure rhetoric and so is most of what you read from that article.
those countries can just file to independent in keep it going. i think they are mad because a country who made say 1mil overseas but only bring 500k back they only get to tax that 500k instead off the 1mil
I Guess that Charles wants to empty out the various islands the UK has. The money will simply leave the UK. But Charles will be virtuous!
💯
Do you think the Hungarian citizenship option "might" come back?
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Hit 100k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 8k in June 2022
Bro why do you keep making those gaping mouth open soy faces for every video now in the thumbnails?
😂
yeah they gonna be tax haven themselves
Perhaps the push to digital (perhaps block chain based) central bank currencies will remove the need to breakup networks of tax havens altogether?
Interesting video….
Thanks! What are your thoughts?
Truly appreciate the clearheaded analysis of this. And beyond the emotional gaslighting that is so prevalent in media in different forms. And thank you for all the insights!
If tax havens go away, places like UAE and Singapore will score big wins.
Charles has been on the Dole since birth-he doesn't pay any tax-maybe he should get a real job...
A fly on the wall production: King Charles wringing his hands and paceing in chambers...but john I cannot just do away/whitewash all of the UK's tax havens...I could do 3 maybe 4 of them...I have money in the rest.
Hopefully his reign will be short....
Do you think his successor will be able to do a better job one day?
First!
How did you like the video? :)
Thank you for informing us of this troubling development Mr. Rosner.
A pleasure! What are your thoughts?