The Panama Papers are an expose uncovering extreme personal and corporate greed which widens inequality and keeps the poor poorer. Nearly half of the world’s people, three billion, live in poverty, surviving on less than two dollars and fifty cents a day. Therefore, dramatic effects around the world, especially on children, become prevalent. One billion children live in poverty, and twenty-two thousand children die each day from it. Meanwhile, as massive income inequality stifles economic growth and opportunity, wealthy billionaires and international corporations are hiding twenty trillion dollars from the global economy. In a scandal known as the Panama Papers, millions of documents were leaked from Panamanian corporate services …show more content…
Obviously, the best solution is for governments around the world to crack down on these tax dodgers. But, all governments have politicians bought and paid for by the same individuals and corporations hiding money in offshore accounts. Therefore, as more money is stashed offshores, inequality grows larger, budgets become more unbalanced, and programs benefiting impoverished people get cut. For the millions of people who rely on social welfare programs, there will no longer be a safety net to keep them from dying in the streets, or a helping hand to lift them out of poverty. The Panama Papers sent shockwaves across the world. Icelandic Prime Minister Sigmundur Gunnlaugsson resigned following a protest by more than three percent of Iceland’s population on Parliament’s doorstep. British Prime Minister David Cameron, whose father had connections with the leak, saw his approval ratings dip below Labour Party and opposition leader James Corbyn. Moreover, here at home in America, people were outraged that companies involved in the massive, multi-trillion dollar taxpayer bailouts of the late 2000’s, stashed untaxed money in Panama as well. The most infuriating example was that of Russian President Vladimir Putin. Putin, who leads a country