42
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 28 May 2024
42 points (100.0% liked)
World News
22028 readers
97 users here now
Breaking news from around the world.
News that is American but has an international facet may also be posted here.
Guidelines for submissions:
- Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
- Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
- Do not post ragebait or shock stories. These will be removed.
- Do not post tabloid or blogspam stories. These will be removed.
- Social media should be a source of last resort.
These guidelines will be enforced on a know-it-when-I-see-it basis.
For US News, see the US News community.
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
Armchair geopolitics explanation: it's a culture/societal difference between a thousand year old monarchy and a federalist state that lost 2 world wars on their own land. Not to mention the federalist state had a "communist" power structure in control of about half of their lands for half a century while the other half birthed a regional free trade juggernaut. Meanwhile, the monarchy has a landed elite class/aristocracy that persists to this day.
What I'm getting at is that the wealth in the UK could be much more heavily tied up in individual fortunes and estates than the wealth in Germany. That kind of wealth seems easier to "protect" by offshoring (and/or the UK has evolved to prefer/rely on it).
In contrast, I expect the wealth in Germany to be more tied up in corporations, stocks, etc. This in turn would lend itself to corporate forms of tax evasion that can happen domestically.
Part of it could also be that Germany is exporting a lot of goods, so the wealth is accumulated in Germany but the profits are realized abroad, lending itself to the tax evasion. This situation is probably a result of what you described.
Ooh, good point.