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Americans basically can't use foreign banks in the way you say; in fact it's quite difficult to use them at all and remain a US citizen. The primary way the we
by scottlocklin 6y ago
Americans basically can't use foreign banks in the way you say; in fact it's quite difficult to use them at all and remain a US citizen. The primary way the wealthy keep their money is by putting it in trust funds; non profits basically. That's where zuckerschmuck and Gates keep their dough. I'm all for getting rid of those, but most people will whine it nukes their favorite charity.
- Meandering 6y agoI was thinking along the lines of funneling income payments through corporate shells in foreign countries in order to evade personal taxes. There are tons of ways techniques. The tax code enables this abuse increasing complexity and establishing loop holes. These benefits become virtually meaningless to the greater population and only works to the advantage of a few.