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  1. #1
    Freaking Ratchet Rail Tracer's Avatar
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    Default £13($21) trillion: Hoard Hidden from Taxman by Global Elite

    http://www.guardian.co.uk/business/2...fshore-economy

    Cayman Islands and Switzerland.

    These people should go into a a big fat episode of hoarders.

    Talk about tax fleeing and off-shoring money on a grand scale. Talk about stimulating the economy.

    In perspective, we can wipe out our own debt and STILL have money left over.

  2. #2
    no clinkz 'til brooklyn Nocapszy's Avatar
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    and what would be the lesson learned?
    we fukin won boys

  3. #3
    Freaking Ratchet Rail Tracer's Avatar
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    Quote Originally Posted by Nocapszy View Post
    and what would be the lesson learned?
    Can't trust whatever comes out of their mouth?

    No really, information for those who have not learn or refuse to learn.

  4. #4
    Blind Guardian Haven's Avatar
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    Obviously they are paying too much taxes. If their tax rate wasn't so high, they wouldn't have to take their money offshore. It's time we bow down and collectively kiss the rich man's ass. Maybe then he will allow some of his golden wealth to trickle down into our gaping mouths.

    Just kidding. This is what Republicans believe.
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  5. #5
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by Nocapszy View Post
    and what would be the lesson learned?
    We need stronger laws to prevent this. Obviously the wealthy have used some of their wealth to lobby governments to create these loopholes in the law to make this behavior legal.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  6. #6
    no clinkz 'til brooklyn Nocapszy's Avatar
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    Quote Originally Posted by Haven View Post
    Obviously they are paying too much taxes. If their tax rate wasn't so high, they wouldn't have to take their money offshore. It's time we bow down and collectively kiss the rich man's ass. Maybe then he will allow some of his golden wealth to trickle down into our gaping mouths.
    i'm not sure why you quoted me. this seems like it has nothing to do with the question i asked.

    edit: to clarify, i was asking what the lesson would be learned if the hypothetical situation
    In perspective, we can wipe out our own debt and STILL have money left over.
    came true.
    if we took that $21T and paid everything off, what lesson do we learn?

    Quote Originally Posted by Lateralus View Post
    We need stronger laws to prevent this. Obviously the wealthy have used some of their wealth to lobby governments to create these loopholes in the law to make this behavior legal.
    i doubt very seriously that it was all stored off shore legally. if the governments thought they could get more in taxes than they by selling loopholes, they'd just do that.
    after all, government is the biggest business of all, and you don't get to the top without that kind of shrewd practice.
    we fukin won boys

  7. #7
    Freaking Ratchet Rail Tracer's Avatar
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    Quote Originally Posted by Nocapszy View Post
    edit: to clarify, i was asking what the lesson would be learned if the hypothetical situation came true.
    if we took that $21T and paid everything off, what lesson do we learn?
    Not much, but that is an example, in perspective, of how much has gone offshore away from governments of the world.

    Since our masses are always talking about paying off the debt with austerity measures, we give people a comparison that they are used to by now.

    Keep in mind, these are also conservative numbers (the high end being $32 trillion.) There is a lot that 21 trillion could of done.

    Could of... would of.

  8. #8
    Mojibake sprinkles's Avatar
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    Quote Originally Posted by Haven View Post
    Obviously they are paying too much taxes. If their tax rate wasn't so high, they wouldn't have to take their money offshore. It's time we bow down and collectively kiss the rich man's ass. Maybe then he will allow some of his golden wealth to trickle down into our gaping mouths.
    I'm sorry but I don't understand how that works.

    Seems to me they don't want to pay taxes on that money at all. I don't see how taking less money is an incentive to let themselves be taxed.

    It's like me saying "If you don't hide your money, I'll only take 25% of it instead of 50%!" is that really an incentive for you to give me 25% of your money if you can avoid it, as opposed to giving me 50% of your money if you can avoid it?

    I don't think I'd be so naive as to believe I can 'buy' you by making you lose less when your alternative is still to lose nothing at all.

    Edit: a good example is Google which managed to pull off only paying 2.4% tax on outside operations - they'd probably go for 0% if they could pull it off.

  9. #9
    Blind Guardian Haven's Avatar
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    Quote Originally Posted by sprinkles View Post
    I'm sorry but I don't understand how that works.

    Seems to me they don't want to pay taxes on that money at all. I don't see how taking less money is an incentive to let themselves be taxed.

    It's like me saying "If you don't hide your money, I'll only take 25% of it instead of 50%!" is that really an incentive for you to give me 25% of your money if you can avoid it, as opposed to giving me 50% of your money if you can avoid it?

    I don't think I'd be so naive as to believe I can 'buy' you by making you lose less when your alternative is still to lose nothing at all.

    Edit: a good example is Google which managed to pull off only paying 2.4% tax on outside operations - they'd probably go for 0% if they could pull it off.
    Sorry, I should have clarified (though I tried to make it seem like I wasn't completely serious). Republicans currently believe that taxing the rich doesn't work because then they will just take their money somewhere else.
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  10. #10
    Mojibake sprinkles's Avatar
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    Quote Originally Posted by Haven View Post
    Sorry, I should have clarified (though I tried to make it seem like I wasn't completely serious). Republicans currently believe that taxing the rich doesn't work because then they will just take their money somewhere else.
    Ah yeah. Ok then

    On that note I think one of the biggest problems is that baking privacy is a valued commodity in itself.

    This has more to do with the competitive tax market than anything else as it is very lucrative for banks in places like Switzerland and Bermuda to get the money of the elite.

    Corporations have a propensity to maximize their bottom line. Yes, some claim to donate to charities and be philanthropists and all that, and some of them legitimately are - but if they truly wanted to be 'good' and supportive, they wouldn't have to hide their money because it still escapes taxes if they donate it instead.

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