@ISIDEWITHQuestionseconomyStarted 9yrs agoActive 6 days ago

Should citizens be allowed to save or invest their money in offshore bank accounts?

Should Canadian citizens be allowed to save or invest their money in offshore bank accounts?

An offshore (or foreign) bank account is a bank account you have outside of your country of residence. The benefits of an offshore bank account include tax reduction, privacy, currency diversification, asset protection from lawsuits, and reducing your political risk. In April 2016, Wikileaks released 11.5 million confidential documents, known as the Panama Papers, which provided detailed information on 214,000 offshore companies serviced by the Panamanian Law Firm, Mossack Fonesca. The document exposed how world leaders and wealthy individuals hide money in secret offshore tax shelters. The…  

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Answer Overview

Response rates from 15k Ontario voters.

54%
Yes
46%
No
40%
Yes
37%
No
14%
Yes, as long as offshore income is reported
5%
No, too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxes
4%
No, and neither should corporations and business organizations

Historical Support

Trend of support over time for each answer from 15k Ontario voters.

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Trend of how important this issue is for 15k Ontario voters.

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Other Popular Answers

Unique answers from Ontario voters whose views went beyond the provided options.

 @B4PPBZNfrom Ontario  answered…6 days6D

The state should have less control over and less information about what an induvidual citizen does with their money.

 @B4ND9T9from British Columbia  answered…1wk1W

With the threat of the Liberal government (or any government) using its power to freeze individuals' banking accounts, and in the limitations of the Canadian stock market, all citizens should have the right to invest money outside of Canada for safekeeping.

 @B395BGKfrom British Columbia  answered…2mos2MO

its a person's money, and the goverment shouldn't have a say about any thing a person does with their money

 @9QZCYDNfrom Ontario  answered…9mos9MO

Yes, but it must be a trusted offshore bank and all income must be reported in order to avoid loopholes by corporations and the wealthy

 @9RBTBFTfrom New Brunswick  answered…9mos9MO

Yes, but there should be penalties and the income should be taxed at a higher rate than income earned from Canadian investments.

 @9K6M454from Ontario  answered…1yr1Y

Only for the lower class people, rich people depend but some should be good as long as they're not over millionaries or billionaries and as such.

 @9K58RGLfrom Yukon Territory  answered…1yr1Y

Yes, long as the income is reported and taxes are paid accordingly. Corporations and businesses should not be able to do so to evade taxes or audits of their financial dealings.

 @9FQ2ZJYfrom Yukon Territory  answered…2yrs2Y

Yes, as long as it is properly reported and taxed and only when existing loopholes are effectively closed

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 @ISIDEWITH submitted…6mos6MO

Trump hits ‘nasty’ Michelle Obama at Atlanta rally

Former President Trump attacked former first lady Michelle Obama during his rally in Atlanta on Monday, calling her “nasty” after Obama lobbed attacks at the former president while stumping for Vice President Harris.“You know who’s nasty to me? Michelle Obama,” Trump told supporters in Atlanta.“I always tried to be so nice and respectful. Oh, she opened up a little bit of — a little bit of a box. She opened up a little bit of something. Oh, she was nasty. Shouldn’t be that way. That was a big mistake that she made,” he added.His remarks come after Obama criticized Trump during a Michigan rally on Saturday, at one point mentioning “Donald Trump’s gross incompetence.”“I hope that you’ll forgive me if I’m a little angry that we are indifferent to his erratic behavior, his obvious mental decline, his history as a convicted felon, a known slum lord, a predator found liable for sexual abuse, all of this while we pick apart Kamala’s answers from interviews that he doesn’t even have the courage to do, y’all,” she said in Kalamazoo, Mich.The heated rhetoric underscores the increasingly personal tone the presidential election has taken between the two campaigns roughly one week out from the election.An aggregate of national surveys compiled by The Hill/Decision Desk HQ shows Harris slightly ahead at close to 49 percent support while Trump is at 48 percent.

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 @ISIDEWITH submitted…5mos5MO

Texas Offers Trump 1,400 Acres for His Mass Deportation Dream

Officials in Texas have offered President-elect Trump a 1,400-acre ranch for his mass deportation plan.Dawn Buckingham, land commissioner of the Texas General Land Office, said in a letter to Trump Tuesday that her office was “fully prepared” to work with federal agencies that are going to be involved in Trump’s immigration plan, and specifically deportation.Buckingham offered Trump a 1,402-acre lot in Starr County. The lot is owned by the Texas General Land Office and is roughly 35 miles west of McAllen, Texas.She said the agency is ready to work with the Department of Homeland Security and Immigration and Customs Enforcement (ICE) or the U.S. Border Patrol to build a facility on the land for “the processing, detention, and coordination of the largest deportation of violent criminals in the nation’s history.”“I am committed to using every available means at my disposal to gain complete operational security of our border,” Buckingham wrote.The letter and offering of land were first reported by The Texas Tribune. Last month, the state bought the land along the U.S.-Mexico border and has plans to build a wall.In the letter, Buckingham criticized her predecessor for not allowing a border wall to be built on the property. Those actions “enabled cartel members and violent criminals to sexually abuse migrant women and children on this land,” she said.On Monday, Trump signaled he would declare an immigration national emergency and use military assets to support his mass deportation plan when he returns to office.

▲  1625 replies

Active 2 days ago

 @ISIDEWITH submitted…6mos6MO

Trump’s Puerto Rico Problem Erupts in Pennsylvania: Latino Voters Fire Back

Donald Trump has a serious Puerto Rico problem — in Pennsylvania.Many Puerto Rican voters in the state are furious about racist and demeaning comments delivered at a Trump rally. Some say their dismay is giving Kamala Harris a new opening to win over the state’s Latino voters, particularly nearly half a million Pennsylvanians of Puerto Rican descent.Evidence of the backlash was immediate on Monday: A nonpartisan Puerto Rican group drafted a letter urging its members to oppose Trump on election day. Other Puerto Rican voters were lighting up WhatsApp chats with reactions to the vulgar display and raising it in morning conversations at their bodegas. Some are planning to protest Trump’s rally Tuesday in Allentown, a majority-Latino city with one of the largest Puerto Rican populations in the state.And the arena Trump is speaking at is located in the middle of the city’s Puerto Rican neighborhood.“It’s spreading like wildfire through the community,” said Norberto Dominguez, a precinct captain with the local Democratic party in Allentown, who noted his own family is half Republican and half Democratic voters.“It’s not the smartest thing to do, to insult people — a large group of voters here in a swing state — and then go to their home asking for votes,” Dominguez said.The timing couldn’t be worse for Trump. Almost a week before Election Day, he’s pushing to cut into Harris’ margins among Latinos, especially young men who are worried about the economy. But the comments from pro-Trump comedian Tony Hinchcliffe Sunday night, referring to Puerto Rico as a “floating island of garbage,” has reverberated throughout Pennsylvania and elsewhere, prompting even the former president’s Republican allies to defend the island and denounce the comments. And with the race essentially a toss up, every vote counts — especially in Pennsylvania.“This was just like a gift from the gods,” said Victor Martinez, an Allentown resident who owns the Spanish language radio station La Mega, noting some Puerto Rican voters in the area have been on the fence about voting at all.

▲  3117 replies