Tag: Nawaz Sharif

Panama Papers Reveal How the 1% Operate

MEL GURTOV – One of the many tools at the disposal of multinational corporations (MNCs) for maximizing profits and undermining state sovereignty is moving operations to low-tax countries. Global companies do not simply “go abroad”; they shift capital, as well as labor and technology, to wherever the advantages are greatest. This reality of globalization is well known, and it is matched by the similar behavior of powerful, wealthy individuals, including present and former top government officials. Like the MNCs, wealthy individuals are not content to make tons of money at home if they can make even more by finding tax shelters abroad, where their money is completely hidden from public view. It’s what the One Percent do.