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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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Friday, April 05, 2013

Massive World-Wide Tax Haven Data Leak

This article appeared at CBC.ca yesterday.

Perhaps now, world governments can follow up on the information and collect back-taxes, interest on taxes owed, and fines that are legitimately owed for failing to declare this income to shore up their ailing budget deficits and spiraling debts, such as the US National Debt, now over 16.7 Trillion dollars.

We'll see if the political will exists to pursue such an endeavour, or whether it will get tangled up and forgotten in the usual government 'red tape,' or get sent to committees for 'review' (translation: burial). I'm not holding my breath.

Canada's Revenue Agency said today that it will investigate the names on the list if it can get its hands on it...but what politicians say and what they actually do can end up being very different.

It seems to me that all citizens of each of the affected countries are perfectly entitled to ask their government representative what their position is on this matter and what they intend to do about it.