The Significance Of The Pandora Papers: Is the wealth of the public the business of the public?

October 18, 2021 - Participants Include:

 

Jimmy Sexton of the Esquire Group - @JimmySextonLLM

John Richardson - @Expatriationlaw

Significantly the Pandora Papers revealed little tax evasion. The leak did reveal that many individuals (including the wealthy) have a desire to keep their personal affairs private. In many cases, the desire for privacy is NOT to hide assets from governments but rather to hide assets from the general public. (Some have argued that the focus is not on tax evasion but is preserving the integrity of the democratic process.)

In this podcast I am joined by Jimmy Sexton to discuss the the world of asset privacy. We make the distinction between hiding assets from governments and hiding assets from the your neighbours. Interestingly the United States (South Dakota and other states) have become world leaders in providing "privacy havens" for wealthy individuals.

We also discuss the possible implementation of wealth taxes and what they may mean and other aspects of living in a world where "the wealthy" (whatever that means) are increasingly under scrutiny.

There are two groups of people who will find this discussion interesting:

1. Those individuals who value privacy

2. Those individuals who do NOT value privacy.

Previous podcasts with Jimmy Sexton include:

 

https://prep.podbean.com/e/tax-haven-usa-why-the-usa-is-a-great-place-to-invest-for-nonresident-aliens-and-how-these-investments-might-be-structured/

https://prep.podbean.com/e/us-citizenship-renunciation-an-appointment-to-renounce-is-rare-opportunity-and-hard-to-find/