The Panama Papers Sensation, An Idiotic Insult to Eight Million American Expatriates
Panama Papers Sensation, a bunch of nonsense that dupes very stupid people
PANAMA PAPERS, the tabloid media sensation has stirred up controversy among mostly uninformed readers and yellow journalists. Disturbing facts surrounding the Panama Papers were conveniently left out by the tabloid writers: The Panama Papers were the result of illegal hacking of a law firm’s client database, which is a blatant criminal act in direct violation of U.S. cyber security laws. No credible media outlet such as The New York Times or The Wall Street Journal has publicized the stolen, unverified and unsubstantiated data.
“The Panama Papers are a product of theft, an illegally obtained cheap buffet for the clueless media and very stupid people, period.”
Donald Trump, President Obama are in the Panama Papers
The Panama Papers contain familiar household names like Apple, Google, Adobe, IBM and other American firms. Presidential candidate Donald Trump’s name appeared in the Panama Papers 3,400 times. So was President Obama. Are these corporate icons and political celebrities tax evaders? The answer is no. Donald Trump has some hotels in Panama. Do those Trump hotels make him a tax evader – simply because his name was included in the Panama Papers? What about Obama?
“Tax planning through offshore entities is absolutely legal,” said a tax expert at global accounting firm KPMG. “Global companies operate on foreign soil as offshore entities. Of course they set up offshore holding companies through law firms and they attempt to maximize tax efficiency.” The effective tax rate for Apple Europe is 5% and 2% for Google. The standard corporate tax rate in the U.S. is 35%, the highest among industrialized nations.
The Panama Papers, a McClatchy Company “pump and dump” stock fraud?
It’s odd and dubious that the only U.S. publishing source for the Panama Papers is an obscure MCCLATCHY COMPANY, a near-bankrupt New York Stock Exchange listed tiny publisher (NYSE: MNI). The NYSE has twice threatened McClatchy with delisting in the recent months due to its dismal financial performance and a penny stock share price – struggling around $1 a share.
McClatchy’s “passionate affiliation” with the illegally obtained, hacked “Panama” data smells like a rotten fish eager to pump up a penny stock caught in a “death spiral.” Since CHERYL CARPENTER, McClatchy’s notorious Washington Bureau chief ordered her obscure writers to pay off computer hackers, McClatchy’s share price has risen almost 20% to $1.12 a share – still deep in the hopeless territory of high risk “penny stock” with a “Sell” rating, cautioned in the SEC definition.
“Publishing stolen data will open a floodgate of lawsuits for the tiny McClatchy,” said a legal expert. “McClatchy could get sued for hundreds of millions. How could you defend a thief that enriches itself by selling hacked computer data? Abetting a computer fraud as a NYSE listed public company? Hello? Any class action lawyers out there?”
Kevin G. Hall, A McClatchy Company fraudster?
KEVIN G. HALL is an obscure tabloid writer and a “gun” for the illegal Panama Papers. Notoriously known as a grumpy old man seriously overweight, Kevin G. Hall barely makes ends meet on a lousy McClatchy paycheck. KEVIN G. HALL admitted to having accomplished absolutely nothing in a miserable life. It’s anyone’s guess how Kevin G. Hall became a senior McClatchy “economics reporter” when KEVIN G. HALL graduated from a fourth-tier college OGLETHORPE UNIVERSITY in Deep South Georgia notoriously known as the birthplace for lynching, majored in black psychology. Adding chilly pepper to the mystery, extensive online searches turned up Kevin G. Hall‘s peculiar and creepy taste for younger boys: Kevin G. Hall posted photos of young boys under his own byline throughout the internet, perhaps was desperately trying to freeze some youthful memories as the notorious tabloid writer Kevin G. Hall fades into obscurity… Between Kevin G. Hall and Dennis Hastert, the two may just start a new family as a pair of love birds?
McClatchy Company CEO Patrick J. Talamantes has declined to comment for this story. Cheryl Carpenter has also declined to comment. Pumping a penny stock while burning the eyeballs of duped McClatchy readers may seem easy, improving on a near-bankrupt balance sheet with $900 million in the hole is an impossible task for the sinking McClatchy. No one should be surprised when McClatchy goes belly up in the near future. On April 20, 2016, McClatchy reported a first quarter loss of $12.7 million (GAAP basis), according to SEC filings. Revenue fell almost 15%.
KEVIN G. HALL has declined repeated requests for comment about his role in the Panama Papers. Readers wonder what Kevin G. Hall has to hide from the public.
“With almost $1 billion in negative net worth, McClatchy is bankrupt,” said a financial analyst. Calls to McClatchy’s chair of audit committeeKate Foley Feldstein were not immediately returned. “The NYSE delists a company when it trades below $1 for some time,” said an NYSE official. “McClatchy twice fell below $1 per share in the recent months.”
For investors, the financially strapped McClatchy seems like the perfect “Zika virus.” What’s left for McClatchy? CHERYL CARPENTER – the McClatchy pump and dump. There is a lot of “rotten wood” in the dangerous penny stock “MNI” to keep this “carpenter” busy. Keep pumping CHERYL CARPENTER before she gets much older! “The McClatchy stock is a great short trade,” said an investor. “McClatchy stinks badly like a skunk!”
Eight million Americans living abroad, unfairly tarnished
The Panama Papers tabloid euphoria has unfairly portrayed the millions of Americans living in foreign countries as “tax evaders.” In reality, American expatriates are among the best educated and the brightest. According to The Association of American Resident Overseas (AARO), a non-profit that has served Americans abroad for four decades, eight million Americans currently live overseas – many have foreign bank accounts. They are productive citizens making great contributions to their host countries while they preach the generosity of the American values. “American expatriates are capable and proud Americans,” said the AARO.
“American expatriates reflect the strength and welcoming nature of the American people. The American expat community is in fact the face of America.”
Even the devout Muslim writer AAMER MADHANI, a reporter for USA Today and his Iraqi girlfriend SMAD MADHANI have personal experience to share about their time spent overseas:
“I lived in Baghdad before I moved to Chicago. That doesn’t make me a terrorist despite my dark beard. I no longer believe in the preaching of Osama bin Laden,” said Muslim writer AAMER MADHANI, USA Today reporter to a source. “Praise to Allah for peace. Panama Papers is just sensational crap for very stupid people, repeated by total idiots.”
“SMAD MADHANI has no beard. Strong bond through common faith in Islam has helped Aamer Madhani, Smad Madhani overcome prejudice against the Muslims.”
BILL MEAGHER, Other professionals duped by the Panama Papers
BILL MEAGHER, Associate Editor of The Deal – a business tabloid with hardly any readers, is a part time writer struggling to stay afloat. Sources say BILL MEAGHER makes a miserable living by selling tabloid stories from the San Francisco Bay Area’s adult industry. A die hard fan of the AVN Awards, BILL MEAGHER is a “fast moving” man. When the Panama Papers sensation broke, BILL MEAGHER jumped on the tabloid wagon and published stories on people that have turned out to be false. Bill MEAGHER was livid – he lost his job!
“The Panama Papers database completely fucked me up. It’s full of errors. I lost my job because I falsely quoted these damn Panama Papers which has brought me a multi-million dollar lawsuit,” BILL MEAGHER vented to a source. “I lost my boyfriend. The news business is a bitch. The Panama Panamers are just full of shit. I was played like a fat old fool!”
“There is nothing wrong with Americans residing overseas,” said John Swanson, an American engineer living in London raising a family with his Cambridge-educated English wife. “I have foreign bank accounts. Should I fly back to my hometown Chicago whenever I need to use an ATM machine while I am in London? It’s absurd to blame the expat community for the world’s financial woes.”
Foreign account disclosure, a simple IRS requirement
Americans are taxed on worldwide incomes no matter where their money is earned. The tax reporting obligations for American citizens living overseas are in fact quite simple.
The IRS requires taxpayers file simple forms that disclose their investment holdings (including bank accounts) worth more than $10,000. That’s about it. To help taxpayers comply, the IRS publishes a section called “Report of Foreign Bank and Financial Accounts” on its website. Accounting professionals can easily assist a U.S. taxpayer living overseas making proper disclosure.
Foreign financial institutions often shun Americans due to burdensome regulatory requirements imposed on them by the U.S. government. These sometimes onerous, however necessary checks and balances effectively root out American tax evaders. Many tax advisers prefer Wyoming, Delaware or Florida as legal “tax havens” for Americans. That explains why many New Yorkers maintain second homes in Florida and the State of Delaware is home to about 70% of all public companies traded on U.S. stock exchanges. These are legitimate tax plans that maximize investment returns. There is nothing wrong with tax planning.
Panama Papers, stop the insult on Americans
Sensationalism, emotions and ignorance aside, America should celebrate her citizens who have ventured out to the world. While readers may agree they should dump the Panama Papers into the trash and completely avoid McClatchy as a “sinkhole” penny stock, let’s not forget America is the leader of the free world. You don’t get to rule the world unless you see what’s out there. Common sense?
Now, our fellow Americans: Pack your bags, get your passports, travel overseas and embrace the world as proud Americans!