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Thread: Super rich hold $32 trillion in offshore havens

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by Neomalthusian View Post
    You referenced $32 Trillion dollars, so wheredja get that number from? You said "the" government wants to take some of it. Which government, if the money belongs to citizens of 139 different countries? Just admit you, like a bunch of the others, including the originator of this thread, aren't even reading the article you're commenting on.
    Oh gawd. Please excuse my momentarily imprecise use of language. The 32 trillion figure is irrelevant to my point, but yes, I was referencing a global measure while responding to a post about -- in part -- American politics. I don't suppose you'd like to apply the same standard of diction to the post to which I was initially responding?

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by GhostlyJoe View Post
    Oh gawd. Please excuse my momentarily imprecise use of language. The 32 trillion figure is irrelevant to my point, but yes, I was referencing a global measure while responding to a post about -- in part -- American politics. I don't suppose you'd like to apply the same standard of diction to the post to which I was initially responding?
    Sorry, you just got the brunt of my sense of annoyance. Several other people walked right into that error too, and then repeatedly did so after being redirected.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by Goshin View Post
    You'll probably recall I've said more than once, that government policy is leaving business afraid of their own shadow and unsure which way to jump.

    But somewhere around 32 TRILLION in untaxed offshore accounts is.... incredible.
    If there is indeed illegal activity that lands that money there, then by all means people should be prosecuted. If not, its their money and who can blame them for sheltering it. And for all the people here that claim more than an EZ return, do you honestly want to pretend you dont claim every exemption and deduction you can to get every dime back? Scale...magnitude...thats all we are talking about. Damn them for wanting to keep more of what they earned.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by VanceMack View Post
    If there is indeed illegal activity that lands that money there, then by all means people should be prosecuted. If not, its their money and who can blame them for sheltering it. And for all the people here that claim more than an EZ return, do you honestly want to pretend you dont claim every exemption and deduction you can to get every dime back? Scale...magnitude...thats all we are talking about. Damn them for wanting to keep more of what they earned.
    No, damn the politicians for letting them put it all there. Of course they probably own those politicians so...........
    It's about the attitude too, hiding money is hoarding. Hoarding is not compatible with capitalism.
    Last edited by iguanaman; 07-22-12 at 06:56 PM.

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by VanceMack View Post
    What makes it 'right' or 'not right'? Many businesses have admitted to holdin off on hiring and to curtailing spending because they don't trust the government or what is coming next. And can you blame them? It's one thing if they are breaking into poor peoples houses and stealing their pennies. Thats not what is happening. They are amassing wealth legimately and choosing to not reinvest a significant portion at this time. I dot blame them.
    You do realize this gives them the functional ability to extort the entire nation by the simple expedient of withholding their capital from the economy at large.

    And the losses they sustain by sitting on their money can be offset by concessions obtained from a desperate populace.

    "I'm not confident enough to risk my money, but I deserve a favorable tax rate for taking risks.
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by iguanaman View Post
    No, damn the politicians for letting them put it all there. Of course they probably own those politicians so...........
    It's about the attitude too, hiding money is hoarding. Hoarding is not compatible with capitalism.
    The Taker Class' constant seeking to grab more of it, based on the argument that the owners don't need it, is what leads to the incentive to hide it in the first place.

    Had there never been any government promising to take care of its needy, then 1) the government would be less apt to need to be seeking wealth to confiscate to pay for all its promises, and 2) it would be left to the owners of wealth to decide (voluntarily) that philanthropy and resolving social problems was something they could do with all their free time (since they don't have to work anymore), and might even be in their best interests to do (because the public perception of them would improve), and there would be no need for coercion in a system like this.
    Last edited by Neomalthusian; 07-22-12 at 07:10 PM.

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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.
    Except if you slice it that it's their money. I don't blame them, I'd keep my money offshore too. Our gov't is the biggest cluster**** in history.

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    Re: Super rich hold $32 trillion in offshore havens

    lol I knew this thread would bring out all the rich's cheerleaders and make heros out of them for avoiding their tax obligation....The real moral of this story of course is....THE RICH NEED ANOTHER HUGE TAX CUT the poor dears

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    Re: Super rich hold $32 trillion in offshore havens

    Quote Originally Posted by lpast View Post
    lol I knew this thread would bring out all the rich's cheerleaders and make heros out of them for avoiding their tax obligation....The real moral of this story of course is....THE RICH NEED ANOTHER HUGE TAX CUT the poor dears
    Foreign investments doesn't mean that these people are necessarily avoiding taxes.
    The article is said they could be loosing tax dollars, but I guess they didn't take the time to see.

    Sounds like lazy reporting and rabble rousing.
    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 Harry Guerrilla View Post
    Foreign investments doesn't mean that these people are necessarily avoiding taxes.
    The article is said they could be loosing tax dollars, but I guess they didn't take the time to see.

    Sounds like lazy reporting and rabble rousing.
    Could be Harry...but it still brought out the cheerleaders

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