The investigative long-running television documentary Panorama drawing on the ‘current affairs’ has gained considerable attention and credibility from viewers for a long time. As one episode of this factual television programme, ‘The Bank of Tax Cheats’ inherits the impartiality of this popular TV series and conducts an investigation around the issue of tax evasion, trying to find out how the Britain’s biggest bank HSBC has assisted its wealthiest clients to avoid paying tax. This essay will produce a detailed analysis of this particular case, focusing on how it structures and presents the real event in order to pursue the journalistic objectives and truthfulness.
The title, firstly, directly points out the key words of the argument: ‘bank’ ? the subject of scheme, and ‘cheats’, though which the whole narrative is building on. At the beginning of the documentary, questions are raised: why did our biggest bank help wealthy clients dodge tax? These
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119) argues that current affair journalism documentary always adopts a simple problem-solution structure, whereas this documentary is more likely to have a cause-effect structure. Even if there is no satisfying solution until the end, ‘The bank of Tax Cheats’ documentary dose achieves its goal in the way which it successfully mediates viewers’ perception and interpretation on a horrible tax evasion scheme of Britain biggest bank, changes their attitudes towards authoritative governmental and financial institutions. It reveals a serious, underground event in particular that the whole society should pay close attention to, in the meantime, calling more pressure form public opinion to address inquiries to relevant tax authorities, empowering ordinary people to fight against criminal act. Therefore, from my point of view, it has successfully delivered its social responsibilities to the public as being an objective and truthful investigative journalistic TV
Tax avoidance has become a massive topic of discussion over the past few years, given the current global economic conditions and the cuts to the public sector by the government as a result. This led to increased anger from the public who perceive avoidance by many of the country’s wealthiest people in a time of austerity as greed. Perhaps the most notable demonstration of this anger can be seen in the actions of the group UK Uncut, who for the past year have been organising protests at shops owned by retail tycoon Philip Green who, as the poster boy for tax avoidance, paid a £1.2 billion dividend to his Monaco-resident wife.
This idea of reducing taxes to increase investment within the economy sounds like a good idea but hasn’t lived up to its expectations historically. The idea of supply side economics wasn’t a new idea for the American tax code. During the early 1920s, income tax rates were cut multiple times which averaged to a total of most rates being cut by a little less than half. The Mellon Tax Cuts named after Treasury Secretary Andrew Mellon under Presidents Warren Harding and Calvin Coolidge. He believed that changes in income tax rates causes individuals to change their behavior and practices. As taxes rise, tax payers attempt to reduce taxable income by either working less, retiring earlier, reducing business expansions, restructure companies or spending more money on accountants to find tax loopholes. If executed properly tax cuts can actually benefit economic growth, data from the Internal Revenue Service(IRS) showed that the across-the-board tax cuts in the early 1920s resulted in greater tax payments and larger tax share paid by those in the higher incomes. As the marginal tax rate on the highest income earners were cut from 60 percent or more to just 25 percent, the amount that this tax group payed soared from around 300 million to 700 million per year. (See Figure 2) This sudden massive increase in revenue allowed the U.S. economy to rapidly expand during the mid and late 20s. Between 1920 to 1929, real gross national product grew at an annual average rate of 4.7 percent and
Media is so powerful that many people in business and politics have long realised that documentary filmmaking is a powerful way to influence or persuade the masses as to which side they should take on certain issues. Although the media claim their documentaries to be neutral, subjectivity is always an issue. Like any form of communication, including journalism, documentary filmmaking involves interpretation and choice-making on the part of the filmmaker, and is therefore unavoidably subjective. You might set up a camera to record a "day in the life of a Year 12 student” and end up with some interesting footage, but until it is shaped and given meaning by the filmmaker, and until
In the United States, the top one percent received about 20 percent of the overall income for 2016. This creates an uneven distribution of income causing Americans to argue about whether or not the wealthy should pay more in federal income taxes. One side of the argument is that the wealthy make a huge portion of the nation’s income; therefore, they should have higher tax rates. The other side argues that wealthy Americans already pay their fair share of taxes by paying nearly 40 percent and should not be forced to pay more. These arguments both use compelling evidence to make their claims; however, a solution could be reached by increasing the tax rate of the top one percent by only 10 to 20 percent.
The federal and state governments provide the American citizens with all of the basic necessities within our communities and society that is taken for granted. Programs responsible for assistance in times of need, providing a quality standard of living, and maintaining the strongest military in the world costs incomprehensible amounts of money and could never exist without taxes from the American people. Taxes are payments made by individuals and businesses to support the government and its services. The constitution grants that congress “shall have the power to lay and collect taxes, duties, imposts, and excises and to pay the debts and provide for the common defense and general welfare of the people”. Taxes paid by Americans redistribute
The pool cost the petitioner over $19,000, and we cannot accept his contention that such amount was spent primarily for therapy for his leg in view of the limited need for such therapy and the alternatives which were then available.
Parent Corporation owns 85% of the common stock and 100% of the preferred stock of Subsidiary Corporation. The common stock and preferred stock have adjusted bases of $500,000 and $200,000, respectively, to Parent. Subsidiary adopts a plan of liquidation on July 3 of the current year, when its assets have a $1 million FMV. Liabilities on that date amount to $850,000. On November 9, Subsidiary pays off its creditors and distributes $150,000 to Parent with respect to its preferred stock. No cash remain to be aid to Parent with respect to the remaining $50,000 of its liquidation preference for the preferred stock, or with respect to any common stock. In each of Subsidiary’s tax years, less than %10 of its gross
Kathy and Brett Ouray were married in 1996. In 2014, they consider themselves completely estranged. Due to financial reasons they have decided to not get a divorce or live separately. They also do not have any legal documentation of separation and neither of them has lived outside the home for a significant amount of time. They currently reside together with their three children. They have decided that Brett has contributed more to the upkeep of their home and children than Kathy. They have also decided to file separately. Brett believes he is eligible to file for head-of-household.
Due to the results of the Leveson inquiry, much has changed for the ways in which the British Press must work within the parameters of Media law. The inquiry has left much of the public untrusting and suspicious of journalism as a practice, and after the publishing of Leveson’s report, it is as though they are just waiting for another slip-up by media institutions.
I walked down the hallway of our wood house, my feet hitting the cold floor. With a deep breath I smell the eggs and toast coming from the kitchen my mother gives me a warm smile, "Good Morning", She says in a sing-song voice handing me a plate with eggs on it. I set the plate down on the dining room table and spin around to our kettle filled with warm water and tea bags. I pour some tea into a black mug I had gotten down from the cabinets, taking a sip, I grimace and sit back down next to my plate of eggs, I still haven't gotten used to having no sugar in my tea even though it has been a month since the sugar has been passed down in the colonies. The sugar act adds a tax to and products that are shipped to the colonies containing sugar, so in a form of boycott, all those whom are against
This assessment is about the requirements to undertake budgeting and forecasting the finances of an organization. After reviewing the case study I have prepared a budget statement.
Taxation, the government acquisition of property from the individual has mixed support in any Western democratic system. To make its way into the good will of the majority, taxation has surrounded itself with doctrines of justification. No law which lacks public approval or acquiescence is enforceable, and to gain such support it must address itself to our sense of correctness. This is particularly necessary for statutes authorizing the taking of private property. Sometimes depicted as ‘theft’ by those who are subject to taxation, the accusation is commonly based on the sentiment what do I get from it? However, one chooses to live in a democratic welfare state and to take up the services society has to offer the individual; the argument
The importance of the revenue to a country is well known in the world. The global financial system has more interconnections now than at any other time in history. (Simser.J, 2008, p.131). Tax evasion is one of most common crimes that damage the order of revenue. This is closely affecting the market economy and daily lives. Normally, most commentators consider tax evasion profoundly unethical. There are some ambiguities regarding the meaning of the very word “taxation” that must be addressed. It is maintained that the meaning of taxation depends neither on the agents who collect it, nor on their objectives. (Bagus, Block, Eabrasu,
The idea that morally dubious goals may be legitimate inside capitalism will be discussed in light of a tax avoidance case study. Apple, a multinational technology company, has avoided paying its fair amount of income tax for years. This paper will consider the structural embeddedness of Apple’s legitimised goal—the maximisation of profit—through the ‘Double Irish Dutch sandwich’ tax haven model. Durkheim’s theory of collective conscience was used in explaining the legitimisation of the company’s profits-driven goal, and how its amorality becomes apparent outside the economical sphere. This paper will also discuss the interconnected nature of the harm and benefits in the deal made between Ireland and Apple. The association between legitimations of Apple’s conduct and its socially challenging behaviour has been analysed to be ambiguous in the letter of the law. The conclusion will shed light on the morally grey area of a company’s responsibility to its shareholders versus the needs of the community.
Taxation systems are usually modeled in such a way that they take into consideration the social welfare of the citizens. The government and other policy makers have the responsibility of ensuring that the system takes into account the needs of the citizens. The bottom line is that taxation should foster equal distribution of resources. The rate of taxation is usually arrived at after several considerations have been made. The rates are not fixed as they depend on the various economic changes. The issue of how taxation should be distributed among the different economic classes is yet to be addressed.