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Old 07-22-2012, 12:49 PM
 
Location: Victoria, BC.
33,523 posts, read 37,121,123 times
Reputation: 13998

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The global "super-rich elite" are hiding more than $21 trillion US in tax havens, the amount equal to the combined GDP of the United States and Japan, according to a new report.

Researched and written by James Henry, an expert on tax havens, the report states the hidden money could be as large as $32 trillion, and represents a massive black hole in the world's economy.
Wealthy hiding $21 trillion in tax havens, report says - World - CBC News
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Old 07-22-2012, 12:58 PM
 
Location: Chicago, IL
9,701 posts, read 5,109,464 times
Reputation: 4270
Well if we extend the Bush tax cuts, they'll bring that money back...
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Old 07-22-2012, 01:00 PM
 
45,201 posts, read 26,417,923 times
Reputation: 24964
rather than seeking ways to get "their money" maybe we should be decreasing taxes on the rest of us.
Of course this would limit the size of government, something Im sure the o.p. would be against.

The real black hole in the economy is the one called government.
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Old 07-22-2012, 01:02 PM
 
5,787 posts, read 4,713,608 times
Reputation: 853
A study by the "Tax Justice Network".....and uber left-leaning organization that supports the Occupy Movement.
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Old 07-22-2012, 01:11 PM
 
Location: USA
13,255 posts, read 12,120,288 times
Reputation: 4228
Quote:
Originally Posted by jt800 View Post
A study by the "Tax Justice Network".....and uber left-leaning organization that supports the Occupy Movement.
I support Occupy Wall Street.

Back on topic. Some people only seem to be concerned about their own well-being, not the well-being of the country. These people are not concerned about losing any quality of living. They're just hoarding mass amounts of wealth.
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Old 07-22-2012, 01:22 PM
 
4,428 posts, read 4,480,636 times
Reputation: 1356
Quote:
Originally Posted by Gtownoe View Post
I support Occupy Wall Street.

Back on topic. Some people only seem to be concerned about their own well-being, not the well-being of the country. These people are not concerned about losing any quality of living. They're just hoarding mass amounts of wealth.
Why don't you make a pact with yourself.

Find ways to make money - start your own businesses if you want to. Work 80 hours a week and do whatever it takes to earn a lot of money.

Once you have done whatever it takes to succeed and you are independently wealthy --- Give It All Away.

Disperse it any way you wish.

Just because you think that the wealthy are not concerned about the well-being of the country, doesn't make it so.

If you want to help, get your fellow Liberals to start donating more to charities. Democrats are very stingy in that area.
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Old 07-22-2012, 01:24 PM
 
Location: Here
11,578 posts, read 13,942,704 times
Reputation: 7009
Poor people not paying ANY money yet getting some back.
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Old 07-22-2012, 01:25 PM
 
Location: Between Heaven And Hell.
13,613 posts, read 10,020,368 times
Reputation: 16996
I knew someone that hid their money up the ironing board leg, another kept theirs in the fridge!
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Old 07-22-2012, 01:26 PM
 
390 posts, read 265,675 times
Reputation: 194
Good for the wealthy. Their money is their property, and as such they have every right to protect it.
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Old 07-22-2012, 01:27 PM
 
Location: Metro Detroit, Michigan
29,801 posts, read 24,880,628 times
Reputation: 28475
Quote:
Originally Posted by jt800 View Post
A study by the "Tax Justice Network".....and uber left-leaning organization that supports the Occupy Movement.
It doesn't mean their findings shouldn't be taken into consideration. You certainly aren't going to expect "big money" interests to spend a dime conducting any research on the topic. Aside from that, you know if they did, the results would be just as skewed and phony. Obviously, there is a problem of missing tax revenue. Money sitting idle does not get taxed. We should start asking why we aren't generating enough tax revenue. And just because the OWS movement looks foolish and poorly articulates their beliefs doesn't mean they don't have at least some valid, though primitive points.
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