The Mega Rich Are Hiding At Least $21 Trillion In Offshore Tax Havens [Study] en-us Wed, 31 Dec 1969 19:00:00 -0500 Fri, 26 Dec 2014 03:08:46 -0500 Sam Ro 4thaugust1932 Tue, 24 Jul 2012 13:05:30 -0400 "Give me control of a nation's money supply, and I care not who makes its laws." --Rothschild in 1744 rocketdiy Tue, 24 Jul 2012 06:38:50 -0400 I have worked hard all my life for what I have, paid my taxes and not complained very loudly when the government, elected by a democratic vote, have used some of my money for dubious things to which I would normally object, like wars - particularly those supporting American foreign policy. On balance they spend a lot more on things with which I do agree like the National Health Service, education and benefits for those less fortunate. These mega rich tax avoiders are sick, greedy people who should be made to pay their fair share. Americans do not understand what socialism is, in fact they do not understand much, as a race, except for right to bear arms and kill people. There is much wrong with the world, which could be improved by the Americans butting out and minding their own (expletive deleted) business. Capitalism is evil and tax avoidance is only one small symptom of it's corrupting influence. john1066 Mon, 23 Jul 2012 09:22:16 -0400 Does not matter. The tax system is set up the way it is and is law. One does not get a choice in hiding money or not. classwarefareatitsbest Mon, 23 Jul 2012 08:37:54 -0400 These "greedy" people as you call them still contribute significantly more in taxes in one year than you and john666(and all the other liberal commenters on this forum) does in a lifetime combined. They also contribute magnitudes more in charity than you two do as well. DMOZ.ORG Mon, 23 Jul 2012 08:21:06 -0400 21 Trillion. Thats all? Thought it would have been more than that. These people are gods. Barrack "I'm a Lying Corrupt Hypocrite!" Obama Mon, 23 Jul 2012 08:16:23 -0400 You mean like half of Obama cabinet?> Did ynot hear you complaining that Tax Cheat Timmy Geitner should be jailed..or the other member's of Team Obozo who did not pay shut your mouth and go back in your hole HYPOCRITE Nicolas Mon, 23 Jul 2012 08:11:17 -0400 A) The MEGA RICH can do what they want B) Good for them C) They don't like to line the pockets of the thieves/ politicians. jidfly34 Mon, 23 Jul 2012 07:25:18 -0400 HOARDERS... black swan Mon, 23 Jul 2012 07:20:31 -0400 Consider the possibility that an elite group of people, with somewhere between $21 trillion and $32 trillion in hidden accounts, might have the means and the power to move stock markets in any direction they choose. Would the retail "investor" be more likely, or less likely to make money in a market controlled by such people.. Alan Smith Mon, 23 Jul 2012 07:04:32 -0400 How true. I bet these are the people who attend their churches, temples etc every Sunday and show their families how good they are. Bankers, Tax avoiders and thir supporters in goverment should be jailed because they are causing misery to our citizens. Success Hating Liberal Mon, 23 Jul 2012 06:52:02 -0400 its a tax haven...its not hiding and its 100% legal Dennis954 Mon, 23 Jul 2012 06:24:22 -0400 It is not necessarily a case of wanting more. For the French it is a matter of protecting what they have from confiscatory tax policies. French citizens making over 1 million euros now have a tax rate of 75% . For those citizens with over 800,000 euros in assets there is an annual wealth tax of up to 1.8%. That tax applies to real estate, cars, furniture, and all other tangible property and has to be valued on January 1 every year. Can you really blame them for moving their wealth out of the country? Willard Romney Mon, 23 Jul 2012 06:18:53 -0400 Hiding money in offshore banks to avoid paying taxes? Why that's preposterous. Why would we ultra-wealthy have to hide money to avoid paying taxes, when we make and enforce the tax laws? Just look at my tax returns (or not) for proof that I'm not hiding my money. I promise that if you elect me President, I will prove to you that a man, who keeps his tax returns secret, .will run my Government with complete transparency. Anyway, paying taxes is for the little people, and it's been that way since feudal times. And, if you really think about it, just whom do the little people pay their taxes to? They pay them to the ultra-wealthy. Back in days of feudalism, we called it "tithing". Remember, the more things change, the more they stay the same." cabaretvoltaire Mon, 23 Jul 2012 04:14:40 -0400 How is it ''cheating'' to deposit money in banks outside the United States? Do people who move from Oklahoma to Texas ''cheat'' Oklahoma out of state income tax? What exactly are you talking about and how is it bad to deposit money in other locations? Peter Verkooijen Mon, 23 Jul 2012 02:19:30 -0400 Obama should confiscate it and give it to Henry Blodgett, Champion of the Little People! / ** yes, sarcasm **/ Nexus789 Mon, 23 Jul 2012 01:10:16 -0400 Wealth is an intergenerational thing that maintained through inheritance. That is why the ratio of wealthy to the non wealthy hardly changes. These people don't work hard and they don't create value - they have always had wealth and skim more from the real economy via the banks. There are a few people that do create unique wealth through innovation, etc, but they are very few but are held up as models for suckers like you to believe in the you can also make it myth. Also, like many ill informed and brain washed Americans you have no idea what socialism means. Has sod all to do with handouts. The US doles out handouts but it is not a socialist country. Nexus789 Mon, 23 Jul 2012 01:00:40 -0400 You must be a billionaire or rather ill informed. Nexus789 Mon, 23 Jul 2012 00:59:25 -0400 Good reply. Not only is it greedy it is also 'free riding', as these crappy people live in societies they don't contribute to. For them to flaunt their greed they have to have a world where they can do so and also buy the idiotic trappings that goes with it. If that world collapses as it probably will do wealth means nothing. All they are doing is destroying the thing that made them wealthy and enabled them expropriate undeserved value. The vast majority of this wealth is 'stolen' through gigantic 'skimming' schemes that extract wealth from the real economy and is orchestrated by the banks. The balance is intergenerational and based on assets (land, shares, gold, etc) that handed down to the next generation (also with little or no tax). Buy gold and silver Mon, 23 Jul 2012 00:19:25 -0400 Buy gold & silver,screw gov.bonds and banks. john1066 Mon, 23 Jul 2012 00:13:32 -0400 Yes hiding from taxes is an honourable thing to do. So do you also cheat on your taxes? If so can you tell us all how it feels to be a cheat? john1066 Mon, 23 Jul 2012 00:11:42 -0400 All taxes have the threat of force. If that's you guide then all taxes are bad. So what is your plan without a government? Fedsneighbor Mon, 23 Jul 2012 00:08:34 -0400 I find the choice of word "useful" rather convenient, as it avoids the inconvenient question of whether it is "right" to take others' money by force. John Hender Sun, 22 Jul 2012 23:46:28 -0400 Leave it to the liberals to try and punish success. You all want it, but you don't want to work for it. You don't get rich by spending money. You get rich by being a socialist and expecting hand outs, though. Swiss Cheese usually stinks like ---- Sun, 22 Jul 2012 23:02:40 -0400 He must have something big to hide! john1066 Sun, 22 Jul 2012 22:57:24 -0400 FYI success does not need greed. Hiding the money is just greedy. How many millions / billions does anyone need? It's greed. Will H Sun, 22 Jul 2012 22:45:27 -0400 It may make sense if you figure in the debt burden carried by the rest of the world, governments and regular people. There is the super rich controlling more and more of the world, all the while crying foul about taxing the rich via their bought and paid for media and politicians, forcing the governments to borrow more and more from... you guessed it, the super rich. Unbeknownst to all of us, we the people are already slaves. Success Hating Liberal Sun, 22 Jul 2012 22:43:01 -0400 More garbage from a Jealous Envious Success Hating Loser..... Brewskie Sun, 22 Jul 2012 22:38:51 -0400 Too bad they don't have $100 trillion sitting in the Caymans Islands, Switzerland, or some black hole 100,000 light years away. I'm sure we'd finally have full employment: BMWs and Mercedes for everyone, a private jet in every back yard, your own private line to your favorite Congressman - ready to do your bidding. I could see the euphoria resurrecting both Milton Friedman and John Menard Keynes; they chase girls at ballparks, attend symphonies around the world, finally develop an all-imposing and all-satisfying universal theory of economics... Brewskie Sun, 22 Jul 2012 22:31:26 -0400 The Pentagon's "Black Box" programs are suppose to purchase $20,000 toilet seats, $30,000 hammers too. Paul China Sun, 22 Jul 2012 22:31:09 -0400 The US Government made a deal with the Swiss bank UBS where USB would turn over the records on 4450 Americas who held secret Swiss accounts in 2009 to the IRS. US Citizens were allowed to self-report these accounts under an amnesty in 2009 until October 15 2009. They would avoid criminal charges and be responsible only to pay back taxes and interest charges. One taxpayer apparently came clean on over $100,000,000 in unreported foreign holdings. It is interesting to note that Romney’s 2010 tax form released did not include 1 important document, a Report on Foreign Bank and Financial Accounts form (“FBAR” to accountants) detailing his offshore investments. He has hidden this portion of his 2010 taxes. He does have a USB Swiss bank account. I think you can see why Mr. Romney is never in a million years going to release his 2009 taxes and why a USB Account seemed to come out of the blue for his 2010 taxes and why he refused to release the IRS 2010 Foreign Bank and Financial Accounts form as part of his taxes. An IRS Swiss bank account amnesty does explain it and fits the timeline of showing McCain his 2007 and prior returns and partially releasing his 2010 taxes where a Swiss USB account came out of the blue. McCain did not know of a Swiss account from the pre 2008 returns because they were not there. What other reason why a Swiss account would show up between the returns provided to McCain and the partial 2010 forms released very reluctantly by Romney in January 2012 as his primary hopes waned? pepe lucho Sun, 22 Jul 2012 22:27:28 -0400 something doesn't add up... world GDP is about $50T and the US M3 money supply is roughly $10T... which means there's no way that there's $20T in money stashed in off shore accounts. john1066 Sun, 22 Jul 2012 22:24:59 -0400 So they are telling us that the ultra rich are so greedy that they have to hide millions / billions from the tax man? Is this really surprising? It does not matter how many they have they want more. Really all of it if they could. Now let us all pray to these Great and Loving Job Creators. They would like that too.