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(113,316 posts)
Mon Oct 4, 2021, 07:27 PM Oct 2021

PandoraPapers: S.Dakota lawmakers allowed state's use as tax haven for financial elites


…Pandora Papers show that around $360 billion in customer assets are currently held in various trusts based in the state of South Dakota. The figure has allegedly more than quadrupled over the past decade, according to the ICJ, which wrote the following.

"The documents provide details about the movement of hundreds of millions of dollars from offshore havens in the Caribbean and Europe into South Dakota, a sparsely populated American state that has become a major destination for foreign money."

South Dakota Laws

Around $360 billion is being held in South Dakota trusts because lawmakers have approved legislation "championed by insiders in the trust industry."

According to The Washington Post, which participated in the investigation, South Dakota is now comparable to notorious tax havens around the globe.

"South Dakota now rivals notoriously opaque jurisdictions in Europe and the Caribbean in financial secrecy," the outlet noted.

A few other American states, such as Nevada and Florida, appear to be moving in the same direction, according to the documents.

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PandoraPapers: S.Dakota lawmakers allowed state's use as tax haven for financial elites (Original Post) blm Oct 2021 OP
Remember Farm Aid - Remember the Reagan years Mary in S. Carolina Oct 2021 #1
So true blm Oct 2021 #2
K& big R#5 UTUSN Oct 2021 #3
Thx. South Dakota needs strong scrutiny blm Oct 2021 #4
Just the most blatant example of the corruption in our country today. kentuck Oct 2021 #5

Mary in S. Carolina

(1,364 posts)
1. Remember Farm Aid - Remember the Reagan years
Mon Oct 4, 2021, 10:06 PM
Oct 2021

when he ensured that land/farms from the small rural farmers were foreclosed on so he could open it up for foreign investors...yet here we are - North Dakota, South Dakota, Iowa, Missouri, Kansas, etc still vote republican.

Remember when all the homes were foreclosed during the 8 years of Bush rule and 401k's were drained, houses were lost, people went broke.....yet here we are - people still voting republican.

Remember the Trump years when he called the pandemic a hoax that killed off 7,000,000 people.....yet hear we are - people still voting republican.

The republican bosses know they can steal, bankrupt and kill their constituents and still be loved, so they use this knowledge through artificial intelligence via social media. The republican bosses despises their constituents and are just laughing at their stupidity.

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