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Old 07-22-2012, 12:29 PM
 
Location: Texas
5,070 posts, read 9,343,029 times
Reputation: 1639

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...Mr Henry said his $21tn is actually a conservative figure and the true scale could be $32tn. A trillion is 1,000 billion.

I wonder how much some of these people could do with some of that excess dough.
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Old 07-22-2012, 01:04 PM
 
Location: The Triad (NC)
31,344 posts, read 69,548,244 times
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Quote:
Originally Posted by Brian.Pearson View Post
.
I wonder how much some of these people could do with some of that excess dough.
They're already doing it.
Super PACs | OpenSecrets
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Old 07-22-2012, 01:08 PM
 
59,004 posts, read 46,166,489 times
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Quote:
Originally Posted by Brian.Pearson View Post
...Mr Henry said his $21tn is actually a conservative figure and the true scale could be $32tn. A trillion is 1,000 billion.

I wonder how much some of these people could do with some of that excess dough.
Most common in Europe, all those swiss bank accounts, caymans, bermuda etc etc.

Not only to avoid taxes but things like divorces.

A lot of drug lord and dictator money in there too.
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Old 07-22-2012, 01:17 PM
 
Location: Las Vegas
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And they pay through the nose to hide that money and protect themselves from taxes too. Tax shelters don't come cheap. Imagine if we had all those tax dollars....never mind, the government would just waste the money on another ridiculous war.

The best argument I ever heard for a flat tax was based on the tax being fair to everyone and the super rich would find it cheaper to pay the government than pay to shelter their money.
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Old 07-22-2012, 02:03 PM
 
Location: The Triad (NC)
31,344 posts, read 69,548,244 times
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Originally Posted by yellowsnow View Post
The best argument I ever heard for a flat tax was based on the tax being fair to everyone
and the super rich would find it cheaper to pay the government than pay to shelter their money.
Too many CPA's and Tax Attorneys to have that happen.
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Old 07-22-2012, 05:27 PM
 
Location: Texas
5,070 posts, read 9,343,029 times
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Originally Posted by MrRational View Post
Too many CPA's and Tax Attorneys to have that happen.
I don't know about that. My tax preparer is 100% behind the FairTax. I had just asked her what she thought about it and those were her sentiments. I wasn't really expecting that...
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Old 07-22-2012, 09:54 PM
 
3,335 posts, read 2,702,149 times
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The Tax havens will not go away until the CIA, Mossad, and Mi6 stop needing them for their criminal acts.

How will the CIA launder the Afghani Opium $ without them?
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Old 07-23-2012, 01:06 PM
 
Location: Great State of Texas
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Also many wealthy from third world nations hide their money. They come from countries where the government will just take their money if they had access.
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Old 07-23-2012, 01:45 PM
 
Location: The Triad (NC)
31,344 posts, read 69,548,244 times
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Originally Posted by modeerf View Post
The Tax havens will not go away until the CIA, Mossad, and Mi6 stop needing them for their criminal acts.
How will the CIA launder the Afghani Opium $ without them?
And don't forget Walt, Jesse and Mike.
Now they're gonna have to make a new pile of cash.
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Old 07-23-2012, 02:55 PM
 
Location: WA
5,538 posts, read 22,582,519 times
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Why do so many insist all these people are 'hiding' money. You have to deposit your funds somewhere and there are options other than US banks. US banks and the US government are not always great about respecting the rights of depositors.

I had a Swiss bank account back in the seventies because I wanted to own gold and our government decided that citizens were not allowed to do that. I found the Swiss account worked well and would do it again.

Taxes are assessed on income and property in this country but not (yet) on wealth. I see no reason do denigrate those that diversify where they bank.
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