Yes, and assuming it will not become popular, this will expire / not renew in 6 months.
It’s also worth noting that the author is affiliated with a company based in Bermuda. So it doesn’t feel like it comes from a legitimate institute. For all i know this was vibe-written by an AI in an afternoon.
"Founded in 1998, One Communications Ltd. (formerly KeyTech Limited) is a diverse telecommunications holding company. Its subsidiary companies specialise in cellular voice, high-speed internet, subscription television and data solutions for both residential and corporate customers.
In 2014, One Communications Ltd. began a series of strategic mergers and acquisitions in order to position itself competitively in an industry driven by technological change. The Company acquired internet, cellular and cable television companies in both Bermuda and the Cayman Islands. These transactions have transformed One Communications Ltd. into a robust triple-play service provider with the networks and data access infrastructures needed to meet the demands of ever-growing bandwidth consumption. Through its operating subsidiaries, the Company is positioned as the leading full-service telecommunications provider for corporate and residential customers in both Bermuda and Cayman.
The operating subsidiaries of One Communications Ltd. are Logic Communications Ltd. (trading as One Communications), Bermuda Digital Communications Ltd. (trading as One Communications), Cable Co. Ltd., and WestTel Limited in the Cayman Islands (trading as Logic)."
Why not discuss the contents of the draft and why it's awful. The fact that the author works for a telecom provider in a small country does not by itself mean much. Perhaps the proposal has been trialled there
I believe Bermuda is a tax shelter country, which means people and companies register there to hide identity and income from the nations they live and do business in. Because of that, the vast
majority of businesses registered in bermuda are not legitimate institutions - they are shell companies defrauding their home nations.
And the home nation's governments defraud their people with unnecessary wars, wasteful spending, unpayable debt, and excessive inflation. There comes a time when paying less tax is the right thing to do.
I can think of few groups as likely to support wars than the ultra rich, but if you are very wealthy and don’t like your tax dollars going to military spending just invest in lockheed or raytheon and get it all back as dividends. War spending doesn’t justify tax fraud, unless you’re also out on the protest line when a new war breaks out.
As the top tax rates fell, from 90% in 1950 to under 40% now - the use of tax shelters increased. So unless your “comes a time” is referencing pre 1915 USA, this isn’t a valid justification.
If inflation is the issue, keep your money in a different currency.
I just don’t see actions from the very rich (the ones using tax shelters) that back up your justifications.
I think it’s simply the collapse of any kind of cohesion between the wealthy and the nation in which they live. Or put another way: I’m rich, i shouldn’t have to pay for stuff i don’t use!
Why are you even defending this practice? It's something very wealthy people do, they're not your everyday citizens conscious about how their taxes go.
They evade taxes for financial reasons, not moral reasons.
It’s also worth noting that the author is affiliated with a company based in Bermuda. So it doesn’t feel like it comes from a legitimate institute. For all i know this was vibe-written by an AI in an afternoon.