Evidence from leaked account data on how elites use offshore banking [pdf]

Re:Evidence from leaked account data on how elites use offsh... by Trias11 on Saturday May 08, 2021 @05:10PM (#27090720)

Quite a few wealthy people do. Especially Canadians and non-americans who can.

Why wouldn't person move outside of tax jurusdiction if it afford saving few extra $MM's and possibility to discover more beautiful, friendly countries?

Of course US Citizenship essentially became IRS trap and renouncing it became very difficult thing to do for americans

[ Parent | on HN ]

Re:Evidence from leaked account data on how elites use offsh... by Retric on Saturday May 08, 2021 @05:24PM (#27090842)

Of Canadians top 10 wealthiest, 8 live in Canada, 2 are living in the US. That’s hardly an exodus to low tax countries.

So sure, examples exist they simply don’t add up to a meaningful percentage. As to why they stay, making say 10% more money just isn’t worth much hassle to the rich. They have money what they want is all the things a well functioning society gives them.

[ Parent | on HN ]