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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@9XGST5YLibertarian7mos7MO
I want to say yes because i believe in freedom, but i wish to say no because of the corruption we see with money being moved like that.
@9NDHHVTLibertarian12mos12MO
Yes, a person's money is their own private matter and the government should have no say or knowledge of it
Yes, and on top of top of that let's get the Government out of the way of the way in people's personal finances. also lets fund SNAP formally known as food stamps with private contributions, and then let's get the free market to compete with SNAP, and when the demand for Snap is diminished privatize it.
@9B9CR69Libertarian2yrs2Y
It should not matter where a person puts their money. All taxes except a sales tax and tariffs should be abolished.
@94BP97MLibertarian3yrs3Y
Yes, it's none of the government's business what I do with my money
@92DGVZGLibertarian3yrs3Y
Yes, citizens should be able to and they should not have to report it. Corporations and businesses should not be allowed to.
@8YFD5QGLibertarian3yrs3Y
The government sucks why trust them!! Why do you trust off shores? Fix it!! I’m not smart enough to fix it but it’s broke!!!
@8XD4H57Libertarian4yrs4Y
Yes, with only a consumption tax (FairTax), it would not matter if people had money offshore as they still spend it here eventually.
@8XB2BZ3Libertarian4yrs4Y
Yes, what private citizens do with their money is not the business of the federal government.
@8WXMM3JLibertarian4yrs4Y
Yes, but these funds are not protected by the FDIC
@8V8XG5XLibertarian4yrs4Y
Yes, citizens should be able to do what they want with their own money as long as it isn't for illicit affairs
@8V3T648Libertarian4yrs4Y
Yes. National sales tax means that taxes would be paid in order to buy or utilize goods in the USA.
@8S3BNBXLibertarian4yrs4Y
Yes, but should be on record. ⁶
@8S369C6Libertarian4yrs4Y
Yes, as long as offshore income is reported, and primary income is noted to be from US. Fines for using loopholes to avoid tax.
@8QDHVZPLibertarian4yrs4Y
Yes, people should be allowed to do whatever they want with their property
@8Q96L39Libertarian4yrs4Y
Yes , but , not as a sole or majority investment .
@whopkinsLibertarian4yrs4Y
Yes, the government should not tell us where to invest our money.
@8PRVP4MLibertarian4yrs4Y
Yes, as long as offshore income is reported and accounted with all other income, wealth, etc.
@8H36K8ZLibertarian5yrs5Y
Private citizen's money should be allowed to be invested wherever, with whomever they choose; with the exception of countries and institutions that are shown to support terrorism or child trafficking.
@8DGNL4DLibertarian5yrs5Y
Yes, but only a certain extent of wealth should be able to be stored to avoid legal tax evasion strategies.
@8CKK8JPLibertarian5yrs5Y
Citizens should be able to do whatever they want as long as it does not infringe upon anyone else’s liberty.
@9B5KJG8Libertarian2yrs2Y
Yes, however it must be regulated and reported in order to avoid exploitation
@84ZWD6LLibertarian2yrs2Y
Yes, but increase oversight to make sure income is reported
@4XN47N8Libertarian2yrs2Y
Yes, as long as they are not in any political position or position of government power
@98CKZDYLibertarian2yrs2Y
It's their money let them do as they wish
@8ZC4MLMLibertarian3yrs3Y
Yes, however find current loopholes and crack down on tax evasion. If the common man must pay taxes, so much the rich man.
@buday4vancouver5yrs5Y
Only in freer part of the world. Not communist or fascist states.
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