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Thread: Super rich hold $32 trillion in offshore havens

  1. #131
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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by TurtleDude View Post
    It makes me nervous when people think the purpose of taxes is to prevent others from getting rich or that those who already pay too much of the taxes be taxed even more so to cause the masses to think that the government should spend more on them
    The purpose of taxes is revenue for the Govt. The purpose of the way we assess it is to benefit growth and prosperity for all. Progressive taxation serves both purposes but only if it is progressive enough to prevent hoarding of capital. The levels for the top brackets since Reagan have not served their intended purpose and must be adjusted or we face economic ruin. The current levels are unsustainable.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by iguanaman View Post
    The purpose of taxes is revenue for the Govt. The purpose of the way we assess it is to benefit growth and prosperity for all. Progressive taxation serves both purposes but only if it is progressive enough to prevent hoarding of capital. The levels for the top brackets since Reagan have not served their intended purpose and must be adjusted or we face economic ruin. The current levels are unsustainable.
    It's the government spending that's unsustainable.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by Aberration View Post
    By limiting the assets a person can have, you limit the possible achievement of private industry. If we did that, we would still have a faltering space program, and no Space X. A failing Postal system and no FedEx.
    There is no shortage of assets, the $40 trillion that the 5% have as their net worth far outstrips any needs for capital expansion. Muhc of that money is in hedge funds for lack of "real" investments. There it is used in the commodities markets to falsely bid them up. The price of gold should be a clue, do you have any idea how much money it takes to bid it up so much?

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by X Factor View Post
    It's the government spending that's unsustainable.
    LOL The US has been spending 22 to 24% of GDP for 20 years or more (with either party in charge) like most western nations. It was the Republicans idea to cut revenues to 15% of GDP, what did you think would happen?

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by grip View Post
    Super rich hold $32 trillion in offshore havens - Yahoo! News



    So is this fair capitalism or are the rich just using the system to amass and hoard wealth for the sake of it?
    They do it to protect their assets, since the government functions more like the mafia.
    I love the NSA. It's like having a secret fan-base you will never see, but they're there, watching everything you write and it makes me feel all warm and fuzzy inside knowing that I may be some person's only form of unconstitutional entertainment one night.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by Goshin View Post
    Hm. Just out of curiosity I did some math...

    There are about 115 million households in the USA. 32 Trillion / 115 million = $278,260

    That would mean they are holding $278,260 for every household in the USA.


    Any way you slice it that seems excessive.
    So you think they should give it up?
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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by Aberration View Post
    Except it is not at the expense of the masses.

    The economy is not a closed system. Just because one person has more, does not mean someone else has to have less.
    I could debate that with you.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by American View Post
    So you think they should give it up?
    No...but putting it back into play wouldn't hurt.

    If I bought up 21 trillion worth of water resources, and then dammed them up so no one could have access to any of it, trust me, you wouldn't like it. This is capital being removed from markets, kept out of play. Sure, some of it is horses, cars, yachts, etc...but I'll wager larger portions of it are more along the lines of gold, or capital in banks, etc. And you can't say that keeping money in banks helps the economy...I think the past couple months trounces that concept, lol.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by haymarket View Post
    This is the perfect application of The Golden Rule.

    And this report will mean nothing other than fodder for right wing talking points about those who would demonize success and have us marching to a communist nirvana.

    I think people should be better informed about how specifically the 'rich get richer' -- how the game is rigged and that money flows upward and doesn't trickle down.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by hazlnut View Post
    I think people should be better informed about how specifically the 'rich get richer' -- how the game is rigged and that money flows upward and doesn't trickle down.
    Agreed. And not just republicans/concervatives need this lesson, but so to do democrats/liberals.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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