Should U.S. citizens be allowed to save or invest their money in offshore bank accounts?
An offshore (or foreign) bank account is a bank account you have outside of your country of residence. The benefits of an offshore bank account include tax reduction, privacy, currency diversification, asset protection from lawsuits, and reducing your political risk. In April 2016, Wikileaks released 11.5 million confidential documents, known as the Panama Papers, which provided detailed information on 214,000 offshore companies serviced by the Panamanian Law Firm, Mossack Fonesca. The document exposed how world leaders and wealthy individuals hide money in secret offshore tax shelters. The…
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@9D874PMConstitution2yrs2Y
Yes, increase taxes on off shore income is made.
@CurvyletterConstitution 11mos11MO
No, and neither should organizations, as they enable tax evasion, reduce transparency, and can facilitate illicit activities
@9B5BV9ZConstitution2yrs2Y
Citizens should be allowed to choose. They should not be bailed out when that money is lost due to poor judgement and there is no FDIC in this case. Should the purpose be to specifically skip on taxes, then we can evaluate that individually.
@8XGDVCLConstitution4yrs4Y
they should be able to access them if needed
@8V453G8Constitution4yrs4Y
Yes, the government should not be allowed to tell private citizens where to keep their money.
@8Q65THCConstitution4yrs4Y
No neither should Corporations or the rich should be able to use them.
@8LJRXLKConstitution5yrs5Y
Yes, and FATCA should be repealed. The US should stop interfering in other countries banking systems.
@8DJFLZKConstitution5yrs5Y
I think people should keep their money in the U.S.
@8DFVLC3Constitution5yrs5Y
Yes, people should be able to do whatever they want with their money without repercussions from the government
@8ZTHCHSConstitution3yrs3Y
No, but instead of banning it, tax them to the point they would lose money investing outside of the U.S to defeat the purpose of investing offshore.
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