Tax havens: Super-rich 'hiding' at least $21tn

[Brian.Pearson]

Originally Posted by pzrOrange

we can't have fair tax system in America because in that case politicians will lose huge amount of power to socially engineer the society. so yeah, nice try, its like bees against honey .

I don't know about that. I mean, won't they still be getting pretty much the same revenue?

[modeerf]

The gov't is no better than the hoarder's of capital.

Self seeking bastards that could give a rip about anyone but themselves.

Stop sending $ to criminal regime's. Regain a representative gov't that is for the people and by the people.

If this is not done, there will be a depression like the world has never seen, followed by a World War that will truly end all wars.

[Brian.Pearson]

We certainly do need an overhaul of senators, no doubt about that. At the same time, we need to pay the bills without some guy at the top bleeding us to death.

[Teak]

Originally Posted by cdelena

If you earn money outside of the US, pay taxes on those earnings outside of the US, bank those funds outside of the US for future investments outside of the US, all is legal... so what kind of fool would bring the money into this country and pay a huge increase in taxes so the fools in DC can squander it?

Hundreds of billions stay offshore for these reasons. The US government has created the environment that results in this situation and every year they come up with more laws and regulations that will make it more prevalent.

Many here are blaming the wrong parties.

Yes, good comment cdelena!

USA corporations LEAD the world in so many ways: innovation, marketing, research & development, and etc. and yet these same corporations, which employ millions of Americans, are constantly being harassed by the tax & spend crowd as if the money corporations earned OVERSEAS was owed to the Entitlement Mongers back in the USA.

Keep that money overseas, I say, until the Great Entitlement-in-Chief Master is booted out of Washington! Let's see Obama start a business on his own that doesn't involve leeching off the American taxpayer.

So, if Coca Cola earns millions from sales in China, for example; and they pay taxes to China, they should rightfully keep that money in China for further investment in China and Asia. Why should an Entitlement Monger in the USA demand that money as his or her own?

[texdav]

Who is surpised by the Ops news? Government itself estmates that 300 billion is not report in income a year by americans.Think of that year after year and it gets huge qucikly.There are crooks everyhwere there are humans;not enough prison to hold them all.

[Teak]

Originally Posted by texdav

Who is surpised by the Ops news? Government itself estmates that 300 billion is not report in income a year by americans.Think of that year after year and it gets huge qucikly.There are crooks everyhwere there are humans;not enough prison to hold them all.

Which is why the government should considering moving to a national sales tax, or value-added tax, and scrapping the income tax completely. Tax people who SPEND money, not SAVE money. There is little incentive to save money any more.

I work overseas and am taxed by the country where I work. Plus, I have to claim that income on my US tax form. If I SAVE the money in a local (overseas) bank, I have to report that to the US government annually. Why? (It has already been shown on the income tax form.) If I SPEND that money, I don't have to show what or how much I spent.

The USA is probably the only country in the world that taxes its citizens who live and work overseas. I know that it has become a cliche, but the US government does not have a revenue problem, but a spending problem. No more foreign wars would be a good start.

[Brian.Pearson]

I've been preaching that from time to time about the FairTax. I usually get bogged down by people in apartments who believe they need more help in that area.