The tax avoidance schemes used by most major US companies are to avoid US taxes on foreign income. Most developed countries have territorial tax systems so their companies do not even need to use these fancy legal maneuvers because the income is largely exempt anyways.
In any given year corporate income tax is like 6-10% of federal receipts so even if that was doubled there would not be a huge decline in income taxes needed. The way the US does corporate tax is really also not that great from an economic perspective because it is a form of double taxation. The Estonian model of only taxing distributions incentivizes investment and avoids many debates over depreciation etc.
Does Leslie Groves deserve (some) credit for the Manhattan Project? Obviously there were people under him doing the actual day to day physics and chemistry work, but if a less effective person was in charge, the whole thing could have failed.
How much worse could you get from a society where 80% of people are living in extreme poverty and where in a good year inflation is 250%? Maduro was not some great guarantor of stability who kept a divided society together. For instance about half the prisons are run under the so called pranato system which means they are literally run by the inmates. I think it's reasonable to say that almost anyone would be better than him.
Pretty much everyone who wasn't in on the CADIVI scam or the subsidized gasoline racket or selling $0.05 screws to PDVSA for $75 stands to benefit from a new government. Many corrupt dictators understand that stealing a small percentage of a bigger pie is a more stable arrangement that can ultimately be more profitable in the long run but the clan that ran Venezuela was so greedy they wanted to take everything as fast as possible.
Venezuela was not a society held together by a strongman unlike Iraq/Libya/Syria. It also does not have the religious or tribal divides those places did. The country was already on the brink of collapse from a combination of sanctions and truly astronomical levels of corruption. There has been a roughly 70% economic decline over the past decade and while there is no longer hyperinflation, inflation in 2025 was at least 200%. Panama would be a more appropriate reference point.
> Penchukov’s political connections helped him evade prosecution by Ukrainian cybercrime investigators for many years. The late son of former Ukrainian President Victor Yanukovych (Victor Yanukovych Jr.) would serve as godfather to Tank’s daughter Miloslava... Sources briefed on the investigation into Penchukov said that in 2010 — at a time when the Security Service of Ukraine (SBU) was preparing to serve search warrants on Tank and his crew — Tank received a tip that the SBU was coming to raid his home.
It took 10 years for Madoff victims to get most of their money back and he was literally just depositing the money into his checking account. He also almost certainly had much fewer victims than this guy did. Based on the complaint I think there may be a large number of international victims as well. This case will really test whatever claims process the DOJ has but hopefully some measure of compensation can be reached quickly. I suspect there are tens of thousands of scam domains and different addresses used so even identifying who to notify will probably be extremely difficult.
Citizenship by investment revenue was 20% of St Kitts’ GDP in 2023. Look at the Henley & Partners website - pretty much every developed country (much of EU, Singapore, Switzerland, many Asian countries) offer at least offer residency by investment. And they still offer it despite pressure from the EU to shut these programs down, so there must be some benefit to it.
These are usually designed for wealthy people. The benefits might only accrue to the wealthy in the target country. For example my government in New Zealand keeps talking about being able to sell land to foreigners if it's more than 2 million. That benefits people that own land worth 2 million. The theory is that it trickles down to benefit the majority, but I wouldn't bet that actually occurred.
The bar should not be investment, instead it should be how much is spent. That could also cover nomadic workers. So long as their expenses are bringing overseas income then everybody in the target country is likely to be advantaged.
Investment can benefit both parties (it doesn't have to be zero sum) but savvy investors don't give a shit whether there is any benefit to the country. Applicants naturally don't like to spend money without gain, yet the purpose of the golden visas should be to encourage applicants to spend money!!!
Or investors often just invest in static assets that just hold their wealth. That doesn't help the target country.
Just my opinion from looking at the schemes and wondering how I would get around the rules so that I had no dead weight expenses.
You can buy Austrian citizenship for ~5M EUR. Cyprus and Malta offered similar schemes at much lower prices until recently. Italy incentivizes people to move their tax residence there by letting them pay a 200k EUR lump sum tax annually instead of the standard progressive rate. I don't really see why we shouldn't have programs like this if there is vetting, but I'm also curious under which US laws this can be justified. Who would have standing to contest this even if it wasn't legal?
PS:
Under 50 USC §3508, the CIA director or the Attorney General can bring in up to 100 aliens and their family per year for permanent residence without regard to any admissibility requirements. Perhaps to maximize revenue these spots can be auctioned off at a premium.
There already was such a system with more concrete requirements. It is called the EB5 visa and has a path to green card. What does this new method bring to the table?
The payments are not going to Trump, personally. They're probably not going to the government, either; I bet this becomes like the EB-5 investor visa, where you make certain kinds of investments within the US. I admit that the text on the website doesn't make this clear, though.
Yeah, if you peel off Trump's name, the insane branding, and the fact that this seems to have been implemented completely extra-legally, I don't hate it.
The "extra-legally" part is not at all clear. When this goes to court (and I'm sure it will), the administration's argument will probably go something like this: Congress has authorized the administration to issue visas to people of "exceptional ability in business" -- see 8 U.S.C. § 1153(b)(2), for example. However, Congress did not specify how, exactly, the executive will ascertain that ability. The Trump administration believes that making a one million dollar investment in the U.S. demonstrates evidence of business ability, and is using this as a factor for issuing and prioritizing visas.
It would seem that accumulating stuff is a waste of time at a point much lower than one billion. On the other hand, giving every Debian maintainer $500 a month is ~$5M a year. Add in Gentoo, Alpine, and other things I like and you're looking at probably double that total. Ivy admission for kids is a few million a year for 5-10 years... Retaking Artsakh would be north of $3 billion
In any given year corporate income tax is like 6-10% of federal receipts so even if that was doubled there would not be a huge decline in income taxes needed. The way the US does corporate tax is really also not that great from an economic perspective because it is a form of double taxation. The Estonian model of only taxing distributions incentivizes investment and avoids many debates over depreciation etc.