The scandalous data leak known as the Panama Papers seems to have grabbed the headlines for quite a long time. It is not surprising given the wide geography of offshore scheme participants. The elite of the largest countries happened to be under journalist investigation. Interestingly, there are almost no Americans on the list.
Still, the President of the world’s leading economy did not left the situation without comments. Barack Obama believes that the offshore manipulations uncovered by journalists clearly show the large-scale problem of evading tax payments. Absence of Americans in the Panama Papers could be explained by the fact that they used to employ services of Panama’s intermediaries in 1980, and now they resort to more powerful financial organizations. Obama stated that this issue will be dealt with.
The common trait of all names in the Panama Papers is wealth. Middle-class workers simply cannot afford such ways of tax evasion. The President has already called on Congress to speed up the introduction of tax reform and close current loopholes.
