'One rule for the rich,' says Corbyn after Paradise Papers exposes powerful and wealthy

November 7, 2017
Issue 

Britain's socialist Labour leader Jeremy Corbyn the ,Ìý13 million files leaked files that expose how the rich and powerful systematically evade tax, shows “one rule for the super-rich and another for the rest". 

US Senator Bernie Sanders, for his part, the documents show "how these billionaires and multinational corporations get richer by hiding their wealth and profits and avoid paying their fair share of taxes".

: "From multiple members of Trump's cabinet to the British Royal Family, [the] document dump of offshore dealings shows how political leaders —joined by wealthy celebrities and the ultra-rich — shelter their assets, keep shady relationships secret, and game the tax systems of nations around the globe ...

"First obtained by the German newspaper Süddeutsche Zeitung, the documents were then shared with scores of journalists and researchers associated with the  and other media organizations, including the New York Times,ÌýBBC, and the Guardian."

"There is this small group of people who are not equally subject to the laws as the rest of us, and that's on purpose,"  author and financial expert Brooke Harrington in response to the new insights about how these elites secretly manage their wealth.

°Õ³ó±ðÌýICIJ reported the "trove of 13.4 million records exposes ties between Russia and U.S. President Donald Trump's billionaire commerce secretary, the secret dealings of the  and the offshore interests of the Queen of England and more than 120 politicians around the world." According to the ICIJ, the documents 

show how deeply the offshore financial system is entangled with the overlapping worlds of political players, private wealth and corporate giants, including Apple, Nike, Uber and other global companies that avoid taxes through increasingly imaginative bookkeeping maneuvers.

At the center of the leak,ÌýÌý³Ù³ó±ðÌýGuardian, is the law firm Appleby which has "outposts in Bermuda, the Cayman Islands, the British Virgin Islands, the Isle of Man, Jersey and Guernsey. In contrast to , the discredited firm at the centre of last year's , Appleby prides itself on being a leading member of the 'magic circle' of top-ranking offshore service providers."

According to a summary by the Guardian, the 'Paradise Papers' reveal:

  •  – and some of her money went to a retailer accused of exploiting poor families and vulnerable people.
  • , including substantial payments from a .
  • ±á´Ç·ÉÌý.
  • The tax-avoiding Cayman Islands trust .
  • A previously unknown .
  • Aggressive tax avoidance by multinational corporations, including Nike and Apple.
  • How some of the biggest names in the film and TV industries protect their wealth with an array of offshore schemes.
  • The billions in tax refunds by the Isle of Man and Malta to the owners of private jets and luxury yachts.
  • °Õ³ó±ðÌý in its efforts to secure lucrative mining rights in the Democratic Republic of the Congo.
  • °Õ³ó±ðÌý to buy stakes in Arsenal and Everton football clubs.

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