Opponents of the ban argue that punitive regulations will make it harder for American companies to compete and will further discourage businesses from locating and investing in the United States. Proponents of the of the ban argue they should be outlawed because they have a long history of being vehicles for tax evasion, money laundering, illicit arms dealing and funding terrorism. The release of the documents renewed proposals for laws banning the use of offshore accounts and tax havens. The document exposed how world leaders and wealthy individuals hide money in secret offshore tax shelters. In April 2016, Wikileaks released 11.5 million confidential documents, known as the Panama Papers, which provided detailed information on 214,000 offshore companies serviced by the Panamanian Law Firm, Mossack Fonesca. The benefits of an offshore bank account include tax reduction, privacy, currency diversification, asset protection from lawsuits, and reducing your political risk. Should Spanish citizens be allowed to save or invest their money in offshore bank accounts?Īn offshore (or foreign) bank account is a bank account you have outside of your country of residence.
Opponents argue that a UBI would be detrimental to economies by encouraging people to either work less or drop out of the workforce entirely. Proponents of UBI argue that it will reduce or eliminate poverty by providing everyone with a basic income to cover housing and food. In the Alaska Permanent Fund each individual and family receives a monthly sum that is funded by dividends from the state’s oil revenues. The longest running UBI system in the world is the Alaska Permanent Fund in the U.S. Several countries, including Finland, India and Brazil, have experimented with a UBI system but have not implemented a permanent program. The funding for Universal Basic Income comes from taxation and government owned entities including income from endowments, real estate and natural resources. Opponents argue that sanctuary city laws provide encourage illegal immigration and prevent law enforcement authorities from detaining and deporting criminals.ĭo you support a universal basic income program?Ī Universal Basic Income program is social security program where all citizens of a country receive a regular, unconditional sum of money from the government. Proponents of sanctuary city laws argue that they enable illegal immigrants to report crimes without the fear of being reported. Although Lopez-Sanchez had several outstanding warrants in 2015 authorities were unable to deport him due to San Francisco’s sanctuary city policy which prevents law enforcement officials from questioning a resident’s immigration status. Since 1991 Lopez-Sanchez had been charged with seven felony convictions and deported five times by the U.S. Lopez-Sanchez was an illegal immigrant from Mexico who had been deported on five separate occasions since 1991 and been charged with seven felony convictions. House of Representatives introduced the Establishing Mandatory Minimums for Illegal Reentry Act of 2015 (Kate’s Law.) The law was introduced after San Francisco 32 year old San Francisco resident Kathryn Steinle was shot and killed by Juan Francisco Lopez-Sanchez on July 1, 2015. Should immigrants be deported if they commit a serious crime? Proponents argue that the jobs and tax revenue created by the companies eventually offset the cost of any awarded incentives.
The European Union has strict laws which prevent member cities from bidding against each other with state aid (tax incentives) in an effort to lure private companies. Opponents argue that governments should spend the tax revenue on public projects instead and that the federal government should pass laws banning tax incentives.
For the Arlington, VA headquarters the city and state governments gave Amazon $500 million in tax breaks. For the New York City headquarters the city and state governments gave Amazon $2.8 billion in tax credits and construction grants. More than 200 cities applied and offered Amazon millions of dollars in economic incentives and tax breaks. Amazon said the company could invest over $5 billion and the offices would create up to 50,000 high paying jobs. The announcement came a year after the company announced it would accept proposals from any North American city who wanted to host the headquarters. In November 2018 the online e-commerce company Amazon announced it would be building a second headquarters in New York City and Arlington, VA. Should cities be allowed to offer private companies economic incentives to relocate?
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