4 ms·

Sounds to me like all of these cities and their containing states and further countries are on the wrong side of the Laffer Curve. And / or have policies which

Sounds to me like all of these cities and their containing states and further countries are on the wrong side of the Laffer Curve. And / or have policies which have a higher cost of obedience than the risk/ reward of illegally skirting them. Give people legal ways to invest / spend. Sure the criminals will still launder drug money, but then you can isolate that.

skywhopper 7y ago
This comment is a little too vague. What legal strictures do you believe are at fault here exactly?
- huffmsa 7y ago
  Can't speak to Vancouver specifically unfortunately, but I'm dealing with "Her Majesty's Royal Water ownership" while trying to rebuild an old breakwater on my property. Or if you look at US corporate tax law, until it was updated last year, hundreds of "America companies" were parking their money in Ireland because it was too expensive to bring it back to the US. I imagine Canada's marijuana legalization will take a bite out of the drug laundering at the casinos.
lsc 7y ago
You realize that "money laundering" usually isn't about tax evasion, right? it's about figuring out how to take money gotten from an illegal venture and figuring out how to make that money come from a trackably legitimate source, which means paying taxes on it So, having a lower tax rate, all other things equal, is going to make your state a more attractive destination for money laundering.
- huffmsa 7y ago
  So what's the problem here? BC is making money.
  - EForEndeavour 7y ago
    One problem that comes to mind is that housing has become far, far less affordable than it would be without the distorting effect of $millions-billions' worth of housing sitting vacant and unused.
  - ambicapter 7y ago
    Encouraging criminals to come to your area?
  - Tiktaalik 7y ago
    BC is experiencing a fentanyl overdose crisis and thousands have died as a result. Where do you think the money to be laundered is coming from?

skywhopper 7y ago

This comment is a little too vague. What legal strictures do you believe are at fault here exactly?

huffmsa 7y ago
Can't speak to Vancouver specifically unfortunately, but I'm dealing with "Her Majesty's Royal Water ownership" while trying to rebuild an old breakwater on my property. Or if you look at US corporate tax law, until it was updated last year, hundreds of "America companies" were parking their money in Ireland because it was too expensive to bring it back to the US. I imagine Canada's marijuana legalization will take a bite out of the drug laundering at the casinos.

lsc 7y ago

You realize that "money laundering" usually isn't about tax evasion, right? it's about figuring out how to take money gotten from an illegal venture and figuring out how to make that money come from a trackably legitimate source, which means paying taxes on it So, having a lower tax rate, all other things equal, is going to make your state a more attractive destination for money laundering.

huffmsa 7y ago
So what's the problem here? BC is making money.
- EForEndeavour 7y ago
  One problem that comes to mind is that housing has become far, far less affordable than it would be without the distorting effect of $millions-billions' worth of housing sitting vacant and unused.
- ambicapter 7y ago
  Encouraging criminals to come to your area?
- Tiktaalik 7y ago
  BC is experiencing a fentanyl overdose crisis and thousands have died as a result. Where do you think the money to be laundered is coming from?