Should U.S. 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…
Read more60% Yes |
40% No |
47% Yes |
32% No |
13% Yes, as long as offshore income is reported |
4% No, too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxes |
4% No, and neither should corporations and business organizations |
See how support for each position on “Offshore Banking” has changed over time for 508k America voters.
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See how importance of “Offshore Banking” has changed over time for 508k America voters.
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Unique answers from America users whose views extended beyond the provided choices.
@8JCJLWV4yrs4Y
Yes, as long as offshore income is reported. And willing to reconsider if this is gamed extensively.
@4RJFCXK3yrs3Y
Current banking regulations against this already discriminate against expatriate americans and give them an undue burden, especially if they do not intend on returning. America is the only major country that taxes world income by citizenship and not residency.
@4RL7JJX3yrs3Y
Yes, as long as offshore income is from money initially earned in the U.S. and not from labor or work overseas and is reported by both individuals and corporations - and appropriate taxes withheld.
@4RLJLV73yrs3Y
No make this a capital offense punishable by total asset freeze, seizure and market blacklisting
@4RLMQW73yrs3Y
Yes, because we can no longer trust our government to not confiscate or ovet tax our earnings.
@4RKXR433yrs3Y
No. That money should be building up America and not other countries.
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@ISIDEWITH3wks3W
In a series of developments that have stirred the political landscape, former President Donald Trump has publicly endorsed the presidential bid of independent candidate Robert F. Kennedy Jr., describing it as 'great for MAGA.' Trump's remarks came after Kennedy announced his vice-presidential pick, further intensifying the political discourse. Trump, in his characteristic style, took to social media to express his views, labeling Kennedy as the 'most radical left' candidate in the race and highlighting the liberal credentials of Kennedy's running mate, Nicole Shanahan. Despite his criticism of their political stance, Trump views Kennedy's candidacy as beneficial for his MAGA movement, suggesting it could potentially divide the Democratic vote.Kennedy, a figure who has long been associated with controversial views, particularly on the rule of law and established science, has drawn criticism and concern from various quarters. His decision to run for president and the subsequent endorsement by Trump has sparked a flurry of reactions, with some seeing it as a strategic move that could impact the Democratic Party's chances in the upcoming elections. Allies of President Joe Biden have expressed alarm over Kennedy's bid, fearing it could siphon off crucial votes from the left, thereby posing a significant threat to Biden's reelection efforts.The political dynamics surrounding Kennedy's candidacy and Trump's endorsement underscore the complex and often unpredictable nature of American politics. As the race for the presidency heats up, the strategies employed by candidates and their supporters are coming under increased scrutiny. The potential impact of Kennedy's run on the Democratic vote is a topic of much speculation, with analysts and political observers closely monitoring the situation.Trump's support for Kennedy, despite their ideological differences, highlights the former president's tactical approach to politics. By endorsing a candidate who could potentially weaken his opponents, Trump is playing a strategic game, aiming to maximize his own chances of success. This move has not only added a new dimension to the political landscape but has also raised questions about the future direction of both the Republican and Democratic parties.As the United States gears up for another presidential election, the emergence of candidates like Robert F. Kennedy Jr. and the reactions they provoke from figures like Donald Trump are indicative of the shifting sands of American politics. With the electorate increasingly polarized, the outcome of the election remains uncertain, and the strategies adopted by candidates will be crucial in determining the path forward.