Not everyone will have to pay by the way.
There are only around 55,000 folks who live in the Caymans, but the money there is enormous.
Ask yourself this question:
How can 55,000 people support 80,000 companies and 250 banks alone not to mention more than 8,000 mutual funds?
They all exist in the Caymans and so does the money from a lot of very wealthy people.
Those who came there to work came to a land with no tax for your labor. Well if you are an expatriate that won't be the case any longer.
The ten percent tax on the pay for expats was instituted by Premiere McKeeva Bush just recently.
American politics at one time played a role in this as the President was not happy with Mitt's holdings in the Caymans, and there was a lot of talk about that.
The rest of the world is starting to realize that they are losing out on a lot of taxable income because of the Caymans, and other tax havens.
There are a lot of people living in their own country who are burning up inside thinking about this sort of money floating around and not getting taxed fairly as they have a tax taken from their paycheck every week. |
