Follow the mind-blowing revelations coming from the leak of the Paradise Papers. Millions of data from just one law firm out of thousands worldwide that shed a bright light on how the top .1 percent hides their money and avoids paying their fair share of taxes.
Of the roughly 150,000 billionaires and multimillionaires, who possess 20 percent of the $84 trillion U.S. net worth, some significant percentage of those individuals engage in mitigating their tax burden through offshore business relationships and the like.
And then there are the stories regarding how our largest companies are using offshore account schemes to avoid multiple billions in their taxes.
As a one-time business owner and employer, current professional and responsible citizen, I’ve always considered my tax payments as a primary responsibility. Now I feel stupid. Does anyone else feel duped? The way things are going in Congress right now it’s just getting worse.
This isn’t new. The New York socialite Leona Helmsley was reported to have said it best in 1989: “I don’t pay taxes. Only the little people pay taxes.” Wow.
Roy Johnson, Bellevue