Super rich hold $32 trillion in offshore havens

[dmcowen674]

7-22-2012

http://finance.yahoo.com/news/super-rich-hold-32-trillion-090225921.html?l=1

Super rich hold $32 trillion in offshore havens



Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens


The study estimating the extent of global private financial wealth held in offshore accounts - excluding non-financial assets such as real estate, gold, yachts and racehorses


The research was carried out for pressure group Tax Justice Network, which campaigns against tax havens, by James Henry, former chief economist at consultants McKinsey & Co.


He used data from the World Bank, International Monetary Fund, United Nations and central banks.


The report also highlights the impact on the balance sheets of 139 developing countries of money held in tax havens by private elites, putting wealth beyond the reach of local tax authorities.

Private wealth held offshore represents "a huge black hole in the world economy," Henry said in a statement.

 

[dmcowen674]

I'm sure at least a handful of them post in here.

I don't want to ever hear we are broke again.

The money was just hidden away.

Get rid of the rich and watch the U.S. recover.

 

[Jaskalas]

I'm sure at least a handful of them post in here.

I don't want to ever hear we are broke again.

The money was just hidden away.

Get rid of the rich and watch the U.S. recover.

I love that theory. Please please PLEASE try it in a state first! California, one of the largest economies in the world. Good proving ground for your highly vaunted economic cannibalism. Go on, I dare you.

 

[Anarchist420]

I'm glad that they're evading taxes, because that means the govt doesn't get to spend it. I'd also take anything CTJ says with a grain of salt.

 

[shortylickens]

Thats not news to me.
I always knew they were funneling money away from the States.

 

[michal1980]

if you get rid of the rich, who would pay for your welfare?


This is just a symptom of liberal hate the rich tax policy

 

[dmcowen674]

I love that theory. Please please PLEASE try it in a state first! California, one of the largest economies in the world. Good proving ground for your highly vaunted economic cannibalism. Go on, I dare you.

Good point.

If they could break down by state what rich are hiding the most I bet California would not be high on that list.

I'm sure states like Texas, North Carolina, Virginia etc would top that list.

Places with the highest concentration of America hating Rich Red State Republicans.

 

[Veliko]

I'm glad that they're evading taxes, because that means the govt doesn't get to spend it. I'd also take anything CTJ says with a grain of salt.

Yep.

If the government spends money on roads, infrastructure, and libraries = BAD.

If a rich person hoards it away, so he can wank into $1000 bills each night = GOOD.

 

[Lanyap]

This is a global "study". I wonder how much of the amount is from the US.

http://www.taxjustice.net/cms/upload/pdf/The_Price_of_Offshore_Revisited_Presser_120722.pdf

http://www.taxjustice.net/cms/front_content.php?idcat=148

 

[CPA]

I'm sure at least a handful of them post in here.

I don't want to ever hear we are broke again.

The money was just hidden away.

Get rid of the rich and watch the U.S. recover.

Who's this "we" you're speaking of? You have a mouse in your pocket?

 

[a777pilot]

Get rid of the rich and watch the U.S. recover.

What?

Are you advocating the killing of the "rich"?

OK. Define rich.

I'll wait.

 

[sixone]

I'm sure at least a handful of them post in here.

I don't want to ever hear we are broke again.

The money was just hidden away.

Get rid of the rich and watch the U.S. recover.

"Get rid of the rich"? Are you advocating some kind of jihad against them?

How about turning the US into a tax haven, instead. That kind of money, funneled into our economy would be quite a boon.

 

[a777pilot]

What?

Are you advocating the killing of the "rich"?

OK. Define rich.

I'll wait.

 

[Hayabusa Rider]

As someone asked who are the rich? Anyone who has more than you? Quantitatively what is "rich"?

 

[a777pilot]

As someone asked who are the rich? Anyone who has more than you? Quantitatively what is "rich"?

So then one could assume that we are ALL rich.

Good to know.

 

[Jaskalas]

"Get rid of the rich"? Are you advocating some kind of jihad against them?

How about turning the US into a tax haven, instead. That kind of money, funneled into our economy would be quite a boon.

Could you picture an economic boom NOT created by government spending? Impossible!

 

[Jaskalas]

Good point.

If they could break down by state what rich are hiding the most I bet California would not be high on that list.

I'm sure states like Texas, North Carolina, Virginia etc would top that list.

Places with the highest concentration of America hating Rich Red State Republicans.

I'm happy to see you're running away from your own plan with a NIMBY.

Your own medicine tastes like !@#$ does it?

 

[SagaLore]

I highly suspect this has had a positive effect on limiting inflation.

 

[dmcowen674]

OK. Define rich.

I'll wait.

If you RTFA this study used anyone with $1 million in assets and above.

 

[IGBT]

it's their personal property. Their business.

 

[dmcowen674]

it's their personal property. Their business.

Yep and it's our country, our business

 

[Pr0d1gy]

The easiest way to reclaim these assest is to set these people up to look like drug dealers so we can "legally" sieze their assets. Once the money is back in America, drop the charges and give them back 10% of what we took.

I'm not advocating this, just answering the question someone asked about how to do this. Our government siezes assets everyday in this country under the umbrella of the War on Drugs.

 

[a777pilot]

If you RTFA this study used anyone with $1 million in assets and above.

Good Lord, Man! You would be willing to kill tens of millions of Americans.

That's just sick.

You must be a real failure and a government welfare leach.

 

[IGBT]

Yep and it's our country, our business

no..you are just passing through. A visitor. You are timing out.

 

[Matt1970]

If you RTFA this study used anyone with $1 million in assets and above.

Good Lord, Man! You would be willing to kill tens of millions of Americans.

That's just sick.

You must be a real failure and a government welfare leach.

Not to mention all the jobs associated with any one of those who runs a business.

Yep and it's our country, our business

Now not only do you want to tax people when they make it, tax them when they spend it, you now want to take it from anyone who after all that manages to pocket a few dollars. You are not even a hack anymore, you are just a joke.