Comments by "Matthew Nirenberg" (@matthewnirenberg) on "How Money Works" channel.

  1. That money you say "goes missing" most likely doesn't use a structure like this, its usually just moved to accounts in other countries and multiple existing laws are broken - its much simpler fraud and financial crime - only possible due to corruption. It's structures like the ones shown in the video that make it possible for people such as yourself to succeed. Sure its not easy to setup and maintain but once you can afford to its great - your assets are safe from frivolous lawsuits, if a business fails, you don't lose everything. What scares me is this push for a natural person to be publicly listed for all entities (its a public listing as ownership of companies is public in most western countries). It scares me because that's just putting a target on those people who could be assumed to be wealthy or who are wealthy and thus at risk of being kidnapped and ransomed when they could otherwise have the name of a legal entity tied to the company. To me, the requirement for a natural person to be listed makes doing business too unsafe so I guess the tax havens and privacy-centric countries will be the future as will any form of business that doesn't require a 'natural person' to be listed publicly. The other thing that scares me is this insane demand for global minimum tax. If a country doesn't want to tax its citizens, then as long as those citizens genuinely live there full-time, why should they have to be taxed because some other country doesn't like other countries not imposing taxes on citizens. The model shown in the video still requires the relevant entities to pay taxes, it just enables the owner to live full-time in a tax haven and not pay any personal income tax in the tax haven. The business does however pay taxes where its registered. Once all tax havens are gone, there'll be nothing to stop governments taxing everyone at 100% and there'll be no way to succeed. To me, this push for huge taxes is driven by: * Countries with huge welfare states and they can't keep paying welfare so they want all the money they can get * By the Elite who want to keep us all poor so they can stay hugely rich and then control us by controlling all of life's necessities. The public are blinded by "hivemind" and group-think based on emotion and ill thought out logic and are being used to usher in a new era of slavery where the 99% are the slaves to the 1% (the Elite). We all need tax havens and as few taxes as possible. On that note - I often get asked how do tax havens make money - its easy: * Business Licences (annual) - $80,000+ - commonly they become a % of company income once the company income exceeds a certain amount * Import & Export Duties * Tourism * Property Tax (Sometimes commercial only, sometimes both commercial and private) * Citizenship By Investment That provides all the money they need. The governments aren't bloated, money doesn't get wasted and the people don't get taxed on personal income. Consider how much is wasted on verifying tax compliance each year. Think how much gets wasted on chasing old mate Bob for those $2 he accidentally forgot to declare. The compliance side is costing more than collection but to the government the compliance, fear and control is as important as is the money - hence they literally waste huge amounts of money!
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