Report finds global tax havens are currently hiding $21 trillion - the entire economies of the US an - Polidicks

eat the rich

Wealth trickles down. Greed takes it all and hides it offshore

I don't quite get it... How are China, Russia, Korea, Brazil, Kuwait, etc. tax havens? Don't they have pretty average capital gains taxes? Unless the idea is that the money is invested overseas, thus people aren't paying taxes in their home countries but the person is still making money? Which would make sense? I guess I'm just a bit skeptical of an article that says $21T is hidden away. I don't doubt that people use tax havens to hide away money, and it's naturally extremely difficult to estimate the size of that black hole, and find who is doing it, but it seems a bit strange that almost all the "top countries" are not generally recognized as tax havens?

It's because those country's have bad laws/corrupt/no proper organisation checking things etc. Plus they want the rich people to do business there so they let them do whatever the fuck they want.

international banking is popular because a citizen of country A who keeps his wealth in country B makes it difficult for either nation to comprehensively assess taxes to them

The amount anyone should ever be allowed to have stored is $1bn and anything over that is force-reinvested into startups and small-medium enterprises by appointed angel investor veterans, with the billionaire given a stake and share of the income generated by the new companies. The game for the billionaire would then be making it so that no matter how many yachts or castles they buy on a certain day, their balance never dips below the $1bn mark due to the amount being subsidised by their income. They'd still be affording themselves a ridiculous amount of money with which to do whatever they like, however millions a month (currently doing nothing) would be funding new growth and business developments, and pushing new potential entrepreneurs who need revenue to epic heights. Cause really... If you have $1 billion dollars you can spend $17,531 per day for 100 years... And that's not even taking into account interest, income, etc.

[QUOTE=SCopE5000;36888890]The amount anyone should ever be allowed to have stored is $1bn and anything over that is force-reinvested into startups and small-medium enterprises by appointed angel investor veterans, with the billionaire given a stake and share of the income generated by the new companies. The game for the billionaire would then be making it so that no matter how many yachts or castles they buy on a certain day, their balance never dips below the $1bn mark due to the amount being subsidised by their income. They'd still be affording themselves a ridiculous amount of money with which to do whatever they like, however millions a month (currently doing nothing) would be funding new growth and business developments, and pushing new potential entrepreneurs who need revenue to epic heights. Cause really... If you have $1 billion dollars you can spend $17,531 per day for 100 years... And that's not even taking into account interest, income, etc.[/QUOTE] Why should anyone be forced to do that? What about freedom to spend or invest their personal money how they see fit? And why stop at 1 billion? That sounds awfully arbitrary. Why not make it a million dollars or a few hundred thousand? All of that can be redistributed for the greater good of the glorious collective, comrade!

Sharply lower taxes for high incomes then technically the governments are being less screwed over and its less of a problem

[QUOTE=Leg of Doom;36890203]Sharply lower taxes for high incomes then technically the governments are being less screwed over and its less of a problem[/QUOTE] That's kind of like legalizing fight clubs to lower the number of violent assaults.

The people who are in control of this money are the kinds of people that are afraid that they'll have to live on a 100K salary instead of say a $100 million salary (oh the horror! I can't afford my gold-plated mansion!). They'd probably kill themselves if they ever had to live in what they would consider "poverty" because of how fucking power-hungry and greedy they are. They are the scum of the planet and should be held accountable for crimes against humanity as far as I'm concerned.

[QUOTE=Drsalvador;36884456]holy fucking shit 32 trillion dollars how can they sleep at night knowing they could solve the US national deficit if they weren't fucking selfish and banded together? i honestly don't know why people need to survive on such exorbitant amounts. [sub][sub][sub]share it fairly but don't take a slice of my pie.[/sub][/sub][/sub][/QUOTE] Because resetting the public debt of the US to zero is totally going to fix everything. Wait, no it won't; It'll just start all over again because the problems that caused the excessive debt in the first place still exist and it will just start all over again. The government is fucking retarded and doesn't know how to manage money amidst the bureaucracy. If the US paid off its debt in full overnight (or defaulted), it would be disastrous to the world economy. You would have hyper inflation from the 13 trillion flooding the market, and it would destroy both credit and investment markets around the globe. If you think that the world economy is in bad shape now, the endgame of that decision would send the world back into the dark ages. Everyone has a hobby, and if rich people want to hoard money, let them. [QUOTE=WheelyBins;36890474]The people who are in control of this money are the kinds of people that are afraid that they'll have to live on a 100K salary instead of say a $100 million salary (oh the horror! I can't afford my gold-plated mansion!). They'd probably kill themselves if they ever had to live in what they would consider "poverty" because of how fucking power-hungry and greedy they are. They are the scum of the planet and should be held accountable for crimes against humanity as far as I'm concerned.[/QUOTE] Hi, I'm a liberal and having money is bad. All people who have money are automatically shit because they're all greedy and money grubbing. They're also shit because they won't freely give away all of their wealth to everyone :downs:

[QUOTE=bohb;36890828]Everyone has a hobby, and if rich people want to hoard money, let them.[/QUOTE] Hahahahahahahahahahahahahahahaahahahahaha

This is enough to give everyone in the world roughly $3000 dollars each. I wonder what effect that would have.

[QUOTE=bohb;36890828] Hi, I'm a liberal and having money is bad. All people who have money are automatically shit because they're all greedy and money grubbing. They're also shit because they won't freely give away all of their wealth to everyone :downs:[/QUOTE] I'd say that if they went out of their way to avoid paying the money that everyone else pays to help keep the society we all live in running; even though they have more money than they'll ever need, they are money grubbing pieces of shit.

If they suddenly put all that money back into circulation, wouldn't that pretty much crash the economy?

[QUOTE=Mr. Someguy;36891717]If they suddenly put all that money back into circulation, wouldn't that pretty much crash the economy?[/QUOTE] Sure, if they suddenly put all of it in. But if it was introduced gradually, say, as a part of regular taxes and fees, then there would not be a problem with it.

[IMG]http://topcultured.com/wp-content/uploads/2010/10/scrooge-mcduck-make-it-rain.jpg[/IMG] They better help pay off the national debt. But they probably wont because they are greedy fucks.

[QUOTE=Noble;36889928]Why should anyone be forced to do that? What about freedom to spend or invest their personal money how they see fit? And why stop at 1 billion? That sounds awfully arbitrary. Why not make it a million dollars or a few hundred thousand? All of that can be redistributed for the greater good of the glorious collective, comrade![/QUOTE] Wow Noble when did you do a 180! Your not thinking revolutionary enough though, money is the vice grip around the proletariat so it's easier just to ban it, shoot the capitalists and be done with it.

[QUOTE=ironman17;36884420]Welp, gentlemen, grab your baseball bats; 'cause this pinata needs to get cracked wide open. Quite a bit of that money needs to get back into circulation; hopefully we'll be able to spend it on something OTHER than luxury fleets of nuclear whaling subs this time, maybe even put it towards rebuilding the infrastructure...[/QUOTE] Nuclear whaling submarines ARE infrastructure. Who the hell is going to keep us safe from the nuclear whales? WHO I ASK YOU!

But lower taxes create jobs! Seriously, our government's deficit problems would disappear overnight if they actually collected everything that was fairly owed to them by ultra-rich people who pay Congress to write loopholes so they can dodge taxes.

[QUOTE=Biotoxsin;36886224]No one does, they horde wealth for the sake of hording it and not paying their share[/QUOTE] "Because it's not about what I use it's about what I earned arent people entitled to what they earn even if they dont use it to live andblgj.msvkkbfbhkljgkjnngr," etc

[QUOTE=Used Car Salesman;36892875]Seriously, our government's deficit problems would disappear overnight if they actually collected everything that was fairly owed to them by ultra-rich people who pay Congress to write loopholes so they can dodge taxes.[/QUOTE] Can we get some numbers on how much exactly is "fairly owed" by the rich to the government (the US gov specifically, since this topic deals with a global issue)? And even if there was enough money to pay down the deficit (and also making the assumption that the government taking more money from the private sector doesn't cause unemployment), it wouldn't address the core problem - we are consuming way more than we are producing, that is why we have a deficit in the first place.

[QUOTE=hypno-toad;36892990]"Because it's not about what I use it's about what I earned arent people entitled to what they earn even if they dont use it to live andblgj.msvkkbfbhkljgkjnngr," etc[/QUOTE] Banks allow multiple people to share the same dollar. Now what you should be pissed off about is the fact that you're being robbed out of retirement by horribly low savings interest rates and high inflation provided by the central bank, and while being discouraged from saving, with the low loan interest rates provided by the fed, you're being forced into a life of debt so these rich assholes with their laundered drug money can get even more $$$.

I don't get why taxes are abhorred against when the best period of american history, the 1950's, for the right wing, the time they most idealized by the current right wing, had some really, really, really high tax rates. Culturally, economically, socially, it's a highly idealized time. The fuck is 32 trillion worth when it has no intent, or purpose, but sits there, a digital stamp on a computer denoting a very maleable value, there's a ridiculous amount of good that can be done with that amount of money, and to say it's admirable that those people sit on that money and do with it as they will, no whimpering memory of the rest of us, we're all just peasants? Why hasn't everyone who embraces this ideology become a rich, rich man. All it takes is hard work, right?

[QUOTE=HumanAbyss;36894228]I don't get why taxes are abhorred against when the best period of american history, the 1950's, for the right wing, the time they most idealized by the current right wing, had some really, really, really high tax rates. Culturally, economically, socially, it's a highly idealized time.[/QUOTE] Nobody actually paid those taxes. There were plenty of loopholes and other means of escaping the tax rates at that time.

[QUOTE=Noble;36893667] it wouldn't address the core problem - we are consuming way more than we are producing, that is why we have a deficit in the first place.[/QUOTE] that's not how deficits work [editline]23rd July 2012[/editline] except for trade deficits but that's a completely different matter entirely

I would very much like to see what percentage of the population has a share in this.

[QUOTE=Noble;36894289]Nobody actually paid those taxes. There were plenty of loopholes and other means of escaping the tax rates at that time.[/QUOTE] They still paid more taxes. That's the point. Do you just dodge arguments you can't handle?

Holy shit I'm gone for two days and I just read this. What the flying god damn fuck we need to take that shit and put it to some actual fucking use. WHY THAT GOD DAMN MUCH.

[QUOTE=purvisdavid1;36894748]Holy shit I'm gone for two days and I just read this. What the flying god damn fuck we need to take that shit and put it to some actual fucking use. WHY THAT GOD DAMN MUCH.[/QUOTE] Ooh, did you see the reveal of documents surrounding the setting of the LIBOR? Basically, some dude asks a favor, and another guy sets the interest rates on everything in the world. It really is amazing how corrupted the world is.