Where are the Americans??

[kentuck]

We are told it is mostly a few "retirees" with property in Costa Rica and Panama.

Nothing to see here.

Yeah, right!

There is minimal coverage in the American media. Wonder why?

The "Panama Papers" have very little to do with millionaires and billionaires in America, trying to escape paying taxes. Perhaps someone should ask Donald Trump his opinion?

[lovemydog]

1. Maybe because American tax laws enable them to hide money

legally.

[kentuck]

2. "Legal" don't make it right.

I think people would still like to know the names.

[lovemydog]

3. Absolutely, 'legal' doesn't make it right.

What I mean is that for the millionaires and billionaires who use these legal loopholes that should be eliminated, maybe there's no need for them to use illegal money laundering techniques. Current existing laws in the U.S. - which should be eliminated - enable them to launder their money without resorting to other methods.

[kentuck]

4. Maybe public disclosure could help close the loopholes?

That would be a positive.

[lovemydog]

11. Sure, it's a start.

We must change the laws that allow these loopholes. President Obama is doing as much as he can to close them. Clinton and Sanders both want to close the loopholes as well. We need a majority democratic party Congress to effectively close them. We need many more liberals and leftists and progressives in Congress tighten U.S. tax laws that currently allow these loopholes to exist. The republican party fights tooth and nail to not close the loopholes.

[KamaAina]

5. Apparently the MF'ers have a subsidiary in Vegas.

Which wiped everything clean when the fit hit the shan.

http://www.democraticunderground.com/10027739967#post3

The law firm tried to block the subpoena by denying that its Las Vegas operations, run by a company called M.F. Corporate Services (Nevada) Limited, were part of the Mossack Fonseca group.

The firm’s Panama-based co-founder, Jürgen Mossack, testified under oath that “MF Nevada and Mossack Fonseca do not have a parent-subsidiary relationship nor does Mossack Fonseca control the internal affairs or daily operations of MF Nevada's business.”

But secret records obtained by the International Consortium of Investigative Journalists (ICIJ), the German newspaper Süddeutsche Zeitung and more than 100 other media partners raise new doubts over that sworn testimony.

Not only do they show that the Nevada subsidiary was wholly owned by Mossack Fonseca but that, behind the scenes, the firm took steps to wipe potentially damaging records from phones and computers to keep details of their clients from the United States justice system.

https://www.publicintegrity.org/2016/04/03/19506/offshore-law-firm-runs-trouble-las-vegas

[kentuck]

6. It is my understanding that...

some of the world's largest tax havens are in Wyoming and South Dakota...

[KamaAina]

9. I think it's South Dakota

same reason all the credit card co's are there or in Delaware.

[kentuck]

10. You are correct.

Fixed.

[lagomorph777]

7. The leaker hinted darkly that more is to come.

I suspect he's going to time it to have maximum electoral impact.

[Nitram]

8. Americans, like Romney, hide their money in the Cayman Islands, the Bahamas, Barbados and

other Caribbean islands.