World
’Pandora’s Papers’: South Dakota – the new Liechtenstein?
Status: 05.10.2021 02:56
The United States of America is developing more and more into a tax haven. South Dakota in particular attracts the wealthy to store their money here. According to the Pandora Papers, the assets there are now around $360 billion.
The official South Dakota Tourist Portal declares, „Come here and have adventure and fun.” Visitors marvel at the presidential heads of Mount Rushmore, the dramatic badlands, and falls of Sioux Falls. What they don’t see is hundreds of billions of dollars stashed in South Dakota. A system.
„Without ever setting foot in Sioux Falls, billionaires from Brazil, and millionaires from Guatemala or Colombia were drawn to the fact that South Dakota has promoted itself as a secret tax haven in the United States,” Will Fitzgibbon told NPR. Fitzgibbon is part of the International Consortium of Investigative Journalists and was involved in the Pandora Papers.
South Dakota seeks secret assets
For decades, South Dakota politicians have made sure that entrepreneurs and the wealthy feel at home with them. There is no income tax, no capital gains tax, no inheritance taxes, and only a low value-added tax. But what makes wealth advisors particularly electrifying are the opportunities for trust funds.
If you don’t really want anyone to know anything about your wealth, a consulting firm advertises online, you’re right in South Dakota: „When it comes to creditors and ex-spouses, South Dakota gives you a great firewall.”
„Only stupid people pay taxes”
The Bosarge couple’s recent divorce war has only shown how something like this works. Texas billionaire Ed Bossarge not only wanted to get rid of his wife Mary after 30 years, but also made her poor, so he hid his fortune in trusts in South Dakota. She knew a lot about her husband’s finances. Marie Bossarge told CNBC that he always said that only stupid people pay taxes. But the fact that she had no legal access to the trust funds left her dumbfounded.
According to Pandora Papers, assets in South Dakota are about $360 billion, a fourfold increase over the past decade. State practices have helped make the United States one of the world’s most important tax havens. It’s not illegal per se, but experts say it attracts criminals from all over the world.
Biden under pressure with his justice agenda
“The offshore system is not abroad, the tax haven is in the country,” says journalist Will Fitzgibbon, and it has important consequences if it comes to more responsibility and justice. President Biden announced during the election campaign that he wants more transparency and more fair taxes. Spokeswoman Jen Psaki said he wanted to make the tax system fairer.
Biden wants to connect with people who don’t pay their share of taxes, regardless of whether they’re entrepreneurs or individuals. For him, that is the focus of what he is currently fighting for in Congress. It is unlikely that he will be able to assert himself with powerful nations. In addition to Florida and Texas, tax havens also include his home state of Delaware.
„Praktyk żywieniowy. Guru bekonu. Irytująco pokorny entuzjasta zombie. Uczeń totalny”.
„it's over”
President Milanović is not allowed to become Prime Minister of Croatia
April 19, 2024 at 8:53 pm
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Croatian President Milanović spontaneously announces his desire to run for the position of Prime Minister in the parliamentary elections. Now, after a warning has already been issued, the Constitutional Court has finally put a stop to his plans.
Two days after parliamentary elections in Croatia, the country's highest court banned incumbent President Zoran Milanovic from the post of prime minister. President of the Constitutional Court Miroslav Šibarovic said that Milanovic „was warned in time that he could not participate in the election campaign as long as he did not resign from his position as president.”
Milanovic, a left-wing populist, surprisingly announced in March, midway through the election campaign, that he would run for prime minister for the opposition Social Democratic Party. In doing so, he made the election campaign more exciting after Prime Minister Andrej Plenkovic's Christian Democratic Union (CDU) had a clear lead in the opinion polls.
The Constitutional Court intervened at the time and declared that Milanović had to resign as president first so that he could run for head of government and a seat in Parliament. However, Milanović ignored this, remained in office and at the same time continued his election campaign. Now the head of the Constitutional Court said: “The matter is over now. He cannot be appointed prime minister.”
His term is scheduled to end next January
Prime Minister Plenkovic's Croatian Democratic Union party won Wednesday's election, but without an absolute majority: it won 61 of the 151 seats in the Croatian parliament, while Milanovic's centre-left coalition, led by Social Democrats, won 42 seats. The right-wing nationalist Homeland Movement came in third place with 14 seats and could become a kingmaker. According to their own statements, the HDZ and the Social Democratic Party have been trying to obtain their majority since the elections.
Plenković's term included, among other things, the introduction of the euro in Croatia and his country's entry into the Schengen Area. The HDZ has largely controlled Croatian politics since Zagreb broke away from Yugoslavia in the early 1990s. The Social Democratic Party was the main opposition party during this time. Milanovic was Prime Minister of Croatia from 2011 to 2016. His term ends in January.
Former Prime Minister Jadranka Kosor has now said that the court itself is violating the constitution with its decisions. Leftist politician Dalia Oreskovic described Croatia's Supreme Court as „one of several hijacked institutions.”
„Praktyk żywieniowy. Guru bekonu. Irytująco pokorny entuzjasta zombie. Uczeń totalny”.
According to the American channel ABC News, Israel is said to have carried out a counterattack against Iran. Unspecified targets are said to have been struck in the country. There are still no reports of casualties or damage. American Radio refers to a high-ranking US government official.
CNN and CBS News also reported a military strike. According to a CNN source, the target of the attack was “non-nuclear.” There has been no official confirmation yet from the Israeli or American side.
Iranian official media reported that “explosions” were heard near the city of Isfahan. However, the cause is still unclear. There are various military targets in the area surrounding the city, as well as parts of Iranian nuclear facilities. According to Iranian media, anti-aircraft defenses were activated in several other provinces and several drones were shot down.
The Israeli attack on Iran had been expected for days after the Shiite theocracy directly attacked Israel with hundreds of drones and missiles for the first time in history over the weekend. However, through its various proxies, Tehran has been waging a shadow war against the Jewish state for many years. Hamas, which attacked Israel on October 7, is also funded by Iran. (Teaspoon)
„Praktyk żywieniowy. Guru bekonu. Irytująco pokorny entuzjasta zombie. Uczeń totalny”.
Berlin / Turin. A 33-year-old man lost consciousness after getting into a car. The machine turns around immediately – yet any help comes too late.
Tragedy on board one Ryanair plane. On the way from Turin to Lamezia Terme in southern Italy, a 33-year-old man died shortly after the plane took off. The man complained of nausea a few minutes after boarding the plane and then lost consciousness.
The plane's captain immediately turned around and landed at the airport 36 minutes later Turin. But it was too late: Only the emergency doctor could determine that the man was dead. All attempts to revive the man failed.
Very bad: pregnant wife The 33-year-old woman was also on the plane and witnessed her husband's death. The woman was taken to the hospital. According to Italian media, the couple married only last summer.
Drama on board Ryanair flight: Cause of death unclear
Reports indicate that rescue attempts are continuing airport The airport operator dismissed the fact that there was supposed to be a delay.
You may be interested in: Can you still fly with Boeing?
Ambulance has it airplane He said he was expected to be on the runway, and an emergency doctor and a nurse were immediately boarded The operator, according to the newspaper „Corriere della Sera” with. In cooperation with the staff on board, resuscitation procedures were initiated immediately using a defibrillator and an adrenaline injection.
the Cause of death It is still unclear, and the police have begun an investigation. (bcl)
„Praktyk żywieniowy. Guru bekonu. Irytująco pokorny entuzjasta zombie. Uczeń totalny”.
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