In case you haven’t heard, the recent leak of more than 11 million documents from offshore Panamanian law firm Mossack Fonseca has revealed how many powerful people, including world leaders, athletes, and celebrities — basically the 1% of this world — have kept, circulated, and hidden away huge sums of money using tax havens. The leak proves what we’ve all known and thought about for years, which is that the middle class is getting screwed, and the scope of corruption and greed far exceeds world leaders. But all hope is not lost, as other leaders are championing the way.
Infamous NSA whistleblower Edward Snowden is urging UK citizens to help oust David Cameron, who attempted to dodge accusations of tax evasion last week and then admitted to profiting from his late father’s offshore trust with the holding company at the centre of this data dump. Cameron conceded that he and his wife owned shares in Ian Cameron’s Blairmore Holdings before selling them for around £30,000 in 2010.
The situation is reminiscent of the events which led to the recent Arab Spring, with high profile people being called out for their greedy ways by many different countries, including Icelandic Prime Minister Sigmundur David Gunnlaugsson, who has since stepped down from his position. This came after days of Icelanders protesting in the streets outside of Parliament. Video footage of the rallies showed yogurt being whipped at the buildings!
“UK Twitter right now: ‘Let’s hope Cameron resigns.’ With respect, hope is not a strategy.”
A protest is scheduled for this weekend demanding Cameron close the UK’s tax loopholes or resign. But in an interview with ITV News, Cameron insisted it was a “fundamental misconception” that Blairmore was set up to avoid tax, saying his father was being “unfairly written about.” Cameron reitierated his willingness to publish his tax returns, claiming he has been a “prominent campaigner” for tax transparency. His office confirmed this will take place “as soon as possible.”
I’m so curious to see what comes of the rallies and protests in the UK and the rest of the fallout from the Panama Papers. It has been pretty quiet over here in North America so far. Is this the calm before the storm?
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