Bernie Sanders: Get Richer by Hiding Profits
on Monday, November 6, 2017Bernie Sanders Money Quote saying in reference to the leak of Appleby law firm data that shows how the wealthy hide profits in offshore tax havens to avoid paying taxes on them. Bernie Sanders said:
![[Paradise Papers] shows how these billionaires and multinational corporations get richer by hiding their wealth and profits and avoid paying their fair share of taxes Quote](https://itsamoneything.com/money/wp-content/uploads/Bernie-Sanders-Paradise-Papers-Wealthy-Avoid-Taxes.jpg)
“[Paradise Papers] shows how these billionaires and multinational corporations get richer by hiding their wealth and profits and avoid paying their fair share of taxes” — Bernie Sanders
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Bernie Sanders thinks tax havens should be done away with because they allow wealthy individuals and corporations to hide their profits and avoid paying their fair share of taxes. He believes that this contributes to wealth inequality and that the money could be better used to benefit society as a whole.
How do billionaires and multinational corporations hide their wealth and profits to avoid paying taxes? It mentions the Paradise Papers, a leak of data from an offshore law firm that revealed how some wealthy individuals and corporations hide their wealth and profits in offshore tax havens to avoid paying taxes. This practice is often referred to as tax avoidance.
It’s important to note that not all offshore financial arrangements are illegal or unethical, but some are used specifically to avoid paying taxes. The article quotes Bernie Sanders as saying that these practices allow the wealthy to “get richer by hiding their wealth and profits and avoid paying their fair share of taxes.”