Tax evasion by wealthy elites
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Tax evasion by wealthy elites
Tax evasion by wealthy elites is a serious problem that undermines the integrity of government institutions and negatively impacts the well-being of citizens. It occurs when individuals or companies with significant wealth and resources use legal or illegal means to avoid paying their fair share of taxes.
One form of tax evasion by wealthy elites is the use of offshore tax havens. This can include the use of shell companies, trusts, and other legal entities to hide assets and income from tax authorities. Offshore tax havens can also be used to facilitate tax fraud, money laundering, and other illegal activities. This can lead to the loss of billions of dollars in revenue for governments, and can also lead to a loss of trust in government institutions.
Another form of tax evasion by wealthy elites is the use of aggressive tax planning. This can include using complex financial structures and transactions to reduce the taxes owed. This can also include taking advantage of tax deductions, tax credits, and other tax breaks that are legal but are often used to reduce taxes to an extent that it becomes unethical. This can lead to the loss of billions of dollars in revenue for governments, and can also lead to a loss of trust in government institutions.
Tax evasion by wealthy elites also has a detrimental effect on the economy. It can result in a lack of funding for public services and infrastructure, and can also lead to increased inequality and poverty. It can also undermine the trust of citizens in government institutions, which can lead to social unrest and political instability.
In order to combat tax evasion by wealthy elites, governments must implement strong legal frameworks and institutions that promote transparency, accountability, and integrity. This includes measures such as automatic exchange of tax information between countries, whistle-blower protection laws, robust anti-corruption laws, and strengthening the capacity of tax authorities to detect and investigate tax evasion.
Governments should also work to close loopholes in the tax system that allow wealthy individuals and companies to avoid paying taxes. This can include implementing measures such as a minimum tax rate for large corporations, and the elimination of tax havens.
Governments must also work on a global scale to combat tax evasion by wealthy elites by promoting international cooperation to share information and coordinate efforts to detect and investigate tax evasion. This can be done through multilateral agreements and initiatives such as the Base Erosion and Profit Shifting (BEPS) project launched by the Organization for Economic Co-operation and Development (OECD) to tackle tax avoidance by multinationals.
In addition, there should be an increased focus on transparency and accountability for wealthy individuals and companies. This can include the implementation of public registries of beneficial ownership, which would make it harder for wealthy individuals and companies to hide their ownership of assets and income and make it easier for tax authorities to detect and investigate tax evasion.
It’s important to note that, tax evasion by wealthy elite is not a victimless crime, as it harms society by reducing the resources available for public services, infrastructure and social welfare programs. The wealthy must pay their fair share of taxes, just like everyone else, so that government can fund public services and infrastructure that benefits the entire society.
In summary, tax evasion by wealthy elites is a serious problem that can have significant negative consequences for the economy and society. To combat it, governments must implement strong legal frameworks and institutions, increase the capacity and resources of tax authorities, close loopholes in the tax system, consider the role of international cooperation in combatting tax evasion, focus on transparency and accountability for wealthy individuals and companies and ensure that the wealthy pay their fair share of taxes.
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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