David Cay Johnston strikes again...Paradise Papers analysis

[bagelsforbreakfast]

https://www.theguardian.com/commentisfree/2017/nov/06/super-rich-tax-rules-paradise-papers

also info at
https://www.dailykos.com/

[Dread Pirate Roberts]

1. Well this is depressing.

David Cay Johnston, maybe my favorite journalist. Why do I always feel bad after reading his stuff?

As the super-rich increasingly hold the reins of governments in the US and other countries, the rules to make sure they act with integrity and in the public interest fail. That’s because the rules were written to guard against petty corruption among people of little to no wealth.

None other than Donald Trump told us this. In July 2015, a few weeks after launching his presidential campaign, Trump filed his first financial disclosure statement and then denigrated the requirements. “This report was not designed for a man of Mr. Trump’s massive wealth,” he wrote in a statement.

Conflict of interest, ethics and financial disclosure rules conceived in earlier times to reveal bribes and favors are of little use when the elected or appointed officials are already rich – especially should they seek to evade disclosure of their holdings, hide their unsavory associations and avoid taxes, whether through dubious business structures or outright fraud.