Do you know why people are so angry about the Panama Papers?
In the biggest leak in history, 11.5 million documents have revealed at how at least 12 current or former world leaders and 128 other politicians and public officials who are avoiding taxes by storing money offshore in shell companies.
The amount of money hidden offshore adds up to at least $20 trillion dollars, which is more the US’s GDP! The taxes paid on that $20 trillion dollars could be used to invest in our public education system, our infrastructure and public transportation system, Society Security, Medicare and Medicaid, safety nets for the poor, and so much more.
But shell companies aren’t illegal – so in this video, TestTube News details exactly how wealthy business people, politicians, and even whole governments around the world are using these companies for illegal purposes.
This is a clear breakdown of what’s happening with the Panama Papers, why folks are protesting the actions of the people involved, and how this all might impact the government programs we all depend on.
Find out why we need to be figuring out what to do about it.
The Editors at Everyday Feminism
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To learn more about this topic, check out:
- How The Working Poor and Middle Class Are Trapped in a Systemic Cycle of Economic Decline
- How Wealthy Corporations Get Welfare You’d Never Receive as an Everyday American
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