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Thread: Super rich hold $32 trillion in offshore havens

  1. #51
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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by TurtleDude View Post
    after claiming that those who filled most of the pool aren't giving their fair share of water

    anything that keeps this government from taking more money is good

    the US government needs to prove it can live on a diet for a century or so before it talks about spending more
    I could not agree more!

    Obama is a fool. He does not understand or appreciate the free-enterprise system.

    He is nothing more than a "community organizer" who knows absolutely nothing about what it takes to run a successful business or a for-profit neighborhood lemonade stand!

    Obama sincerely believes the "government" is the "be-all" and the "end-all" of everyone's success!

    Are you aware the Democrats believe in and support "trickle down" economics?

    The Democrats believe if you tax the middle class at a sufficiently high rate, some of the money they collect will "trickle down and help the poor!

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by James Cessna View Post
    Why is it sitting in 32 trillion buckets in some other country?

    There has to be a reason!

    Why are wealthy Americans afraid to bring this wealth back to the United States?

    Could their decisions have anything to do with Barack Obama's very foolish “tax the rich" policies?

    When property taxes go up in one state, what do the wealthy people do? They just move to a state with lower taxes.

    International finance works no differently.
    Is it time for the new world order, where countries don't have such disparate taxing schemes that encourage fleeing capital? It seems to me that to avoid total economic collapse, it will have to happen. The loopholes must be closed. A modern day Magna Carta...the rich cannot be above the law.
    The morality of abortion is not a religious belief, any more than the morality of slavery, apartheid, rape, larceny, murder or arson is a religious belief. These are norms of the natural law of mankind and can be legislated even in a completely religionless society.

  3. #53
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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by TurtleDude View Post
    after claiming that those who filled most of the pool aren't giving their fair share of water

    anything that keeps this government from taking more money is good

    the US government needs to prove it can live on a diet for a century or so before it talks about spending more
    They didn't fill the pool. The pool -- in this metaphor -- is the economy at large. The idea that all economic activity flows from isolated wealth is nonsense.

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    Quote Originally Posted by Hatuey View Post
    I don't get it. Somedays Obama is a lackey of business interests. Other days they're afraid of him. You can't have it both ways VanceMack. Which is it?
    You REALLY don't get it? Why do you think bankers and brokers donate to both parties? But if you really can't understand why businesses are hesitant to invest in today's climate, well, you are a lot more idiotic than I could have ever imagined.

    No...wait...I'm sure it's because they are racist. Isn't THAT your pat excuse for EVERYTHING?

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    Re: Super rich hold $32 trillion in offshore havens

    Essentially, this is Atlas shrugging.

  6. #56
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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.
    Well that's the estimated market value, not the liquid value.
    If all those assets were sold, for cash (which I don't think there is enough dollars in existence to pay out for all that), it's liquid value would be substantially less.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by Helix View Post
    fair or not fair is largely irrelevant. what is relevant is that this is an excellent illustration of how trickle down is not working efficiently, however.
    One does not infer the other.
    Sorry.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by ChuckBerry View Post
    The government doesn't need to take money away from the rich, the rich need to release it back into the economy in the form of better wages for workers. We seem to be caught in a vicious circle...businesses are hanging on to cash because there is no demand, workers are not creating demand because they are trying to pay down debt or aren't making any money at all because they are out of work.

    Maybe the rich don't care...demand is increasing in emerging markets, so they don't care if the U.S. and Europe's markets become moribund.
    They don't care because they are clueless. Most of their money has been made in bubble after bubble not from real growth in the economy. They are now reduced to making money trading money, no consumers or salaries or goods needed. They have in effect written the majority of us out of the equation. They now see us as a liability that must be squashed .They are wrong, their money is worthless without a society to spend it in and that society is quickly crumbling under the weight of their greed. The only good news is that even "conservatives" are starting to see that income distribution matters and the socking away of $40 trillion by the 5% is a HUGE drag on the economy that must be reversed before it is too late. Consumer economys depend on having a nation of consumers, not a nation of a few investors who save 80% of their income with the rest just struggling to get by with less to spend every year.

    I'de like to see a temporary tax holiday for income spent in the economy while taxing ALL income not spent at 50%. Can you imagine what a boom that would be for business?
    Last edited by iguanaman; 07-22-12 at 06:08 PM.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by James Cessna View Post
    I could not agree more!

    Obama is a fool. He does not understand or appreciate the free-enterprise system.

    He is nothing more than a "community organizer" who knows absolutely nothing about what it takes to run a successful business or a for-profit neighborhood lemonade stand!

    Obama sincerely believes the "government" is the "be-all" and the "end-all" of everyone's success!

    Are you aware the Democrats believe in and support "trickle down" economics?

    The Democrats believe if you tax the middle class at a sufficiently high rate, some of the money they collect will "trickle down and help the poor!

    Obama is pandering to those who believe their lot in life is the fault of those who are more prosperous and successful

    Its all about getting power from winning elections

    no one can honestly say that the middle class is paying too much for what they use and the rich aren't paying their fair share

    its nothing more than pandering to those who resent more successful people

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by grip View Post
    And they get that 22% ($32+ trillion), which is ONLY the cash from the other 99%.
    That's not true either.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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