TED Talks : Robert Palmer: The Panama Papers exposed a huge global problem. What's next ?

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TED Talks : Robert Palmer: The Panama Papers exposed a huge global problem. What's next ?

Post by Brian Saboureau on Sun Oct 30, 2016 2:30 am

http://www.ted.com/talks/robert_palmer_the_panama_papers_exposed_a_huge_global_problem_what_s_next/transcript?language=en#t-156603

In this video, Robert Palmer speaks to us about the scandal of Panama Papers. Panama Papers indicate the flight of more than 11,5 million confidential documents stemming from the Panamanian law firm Mossack Fonseca, the retailer of the information on more than 214 000 offshore companies as well as the names of the shareholders of these companies. Among them are politicians, billionaires, high-level sportsmen or celebrities. Robert Palmer states first of all the implication of a lot of leaders of State such as Vladimir Putin or still the Icelandic president (yes, there are not only beautiful stories in Iceland like the "clap" of the fotball players during the european championship in France!).

In his video, Robert Palmer wonders why we, who are neither a political leader, nor a personality world-famous (except for you Mr Cox !), let us have to be interested and rebel compared with this scandal. He tells us that all the taxes which should pay its offshore companies to the various States one are failed to win for these. Indeed, this money could serve to realize public spending which are profitable us. On the principle, I enough agree with Robert Palmer, however, still this money has to be reinvested well and truly to realize public spending.

Then, Robert Palmer highlights the fact that the affair of Panama Papers concerns only very few personalities or American companies. His conclusion is simple, if the scandal concerns less the United States, it is simply because Mossack Fonseca has fewer American customers. For him, if we saw flights in the Cayman Islands, Delaware, Wyoming or Nevada, there would have been many more American cases.

Today, we speak many offshore companies, tax havens, all this always returns to the same subject. Companies and/or very rich people try to find parades to avoid paying an amount of tax always higher. Many companies are in that case, companies such as AirBnB, Google, Apple channel through their profits by Ireland where the legislation allows them to declare their profits in tax havens such as Jersey for AirBnB for example, where the tax rate is close to zero. They use the parade of the " Double Irishman ". I think that whatever is the legislation and whatever happens, it will always be impossible to remove this type of practice.

Brian Saboureau

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