Rich people pay the most taxes, both as a percentage of their income and in terms of the total amount they’re forking over. That said, the wealthy have an elaborate system for avoiding those taxes.
That system came to light in 2016, when an anonymous whistleblower handed over a cache of some 11.5 million records — the largest leak ever — revealing methods the rich were using to hide their money from tax collectors the world over.
Known now as the Panama Papers, the network of offshore holding companies and foreign banks used to conceal riches, even included world leaders like Vladimir Putin, Xi Jinping and David Cameron.
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