I have heard that the Rich/Wealthy use tax loopholes/offshore bank accounts they have the Lawyers and the Lobbyists my question is how does work do they just move their profits offshore or do they lobby do they have to move their profits to a nation/country where there are low taxes or no taxes or does this even matter ?
In western capitalist countries their taxation penalises the poor and vulnerable in society. Clever accounting and offshore Swiss bank accounts ensure the rich in western societies can avoid paying the majority of taxes altogether. In the UK for example, the Queen is one of the richest people in Britain yet she pays no income tax, whereas a poor single mother or an old age pensioner must pay income tax. With regressive taxes like the sales taxes on goods and services these hurt the poor more than the rich since the tax rates are the same for both.
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