Now that the Panama Papers have begun to reveal the shadowy world of Mossack Fonseca’s offshore accounts, isn’t it time to look at the entire system? Remember, Mossack Fonseca is just one of many firms specializing in setting up offshore accounts that allow people to hide their money. (Or, more importantly, hide themselves.) Most of these people with offshore accounts are just trying to avoid paying taxes but many of them are corrupt politicians and other criminals.
As it turns out, you don’t even have to go offshore to thoroughly hide your dough, or your connection to it. The United States is one of the best places to stash those anonymous bucks, just ask China. (And while you’re at it, check the real estate market in New York, Miami or San Francisco.) Of course, the US government is already saying they’re going to change the rules so the true owner of a shell company must be revealed, but I won’t be holding my breath.
This is a profitable business, and it just so happens that loads of donors to both major US political parties kinda like it the way things are. Don’t count on these corporate shells to become transparent anytime soon. And as long as there are clever ways to hide your money and identity, there will be bad guys hiding their dirty money, at home and abroad. Enjoy the cartoon and be sure to check out my behind-the-scenes Patreon page, where the finances are always fully-transparent!