Super rich hold $32 trillion in offshore havens

[dmcowen674]

You're suffering the pain of your own bad choices, Dave. Doesn't mean everyone else is.

Some of us are doing quite well, because we worked hard and made smart choices to protect ourselves from just this kind of situation.

Some people got handed a bad deal, through no fault of their own. You're not one of them.

How do you know?

Are you here?

Who are you that you would know?

 

[sixone]

Translation: I work in a bog standard office, doing a bog standard job. I harbour the bitter illusion, that if I suck up to the immensely wealthy, and pretend that they got there through 'hard work', then one day I will be able to join them, right after I finish yet another 80-hour week.

Translation: When I don't know what else to say, I'll make something up.

Save yourself the effort of typing, next time.

 

[sixone]

How do you know?

Are you here?

Who are you that you would know?

Your bad choices have been posted all over the web, Dave.

 

[OneOfTheseDays]

You cannot have a rational discussion about this with Conservatives because they boil every single debate down to liberals hate rich people and are jealous of their wealth. There is no point arguing with idiots who actually believe this. They are too stupid to see how the financial elite of the world are using them.

Conservatism needs to die an ugly death in this country before we see any real progress. Side note, guess which countries are doing the best off financially since the economy went south in 2008? Are they more liberal or conservative?

 

[dmcowen674]

You cannot have a rational discussion about this with Conservatives because they boil every single debate down to liberals hate rich people and are jealous of their wealth.

It's because they are not affected personally but they are afraid.

They should be.

The roar of the little people they are squashing is getting louder and louder everyday.

 

[blackangst1]

You cannot have a rational discussion about this with Conservatives because they boil every single debate down to liberals hate rich people and are jealous of their wealth. There is no point arguing with idiots who actually believe this. They are too stupid to see how the financial elite of the world are using them.

Conservatism needs to die an ugly death in this country before we see any real progress. Side note, guess which countries are doing the best off financially since the economy went south in 2008? Are they more liberal or conservative?

How is it any different than the liberals saying Republicans only care about money and hate poor people?

Liberalism needs to die a quick death in this country and let people learn what its like to be minimally supported by government.

See how that works?

 

[Abwx]

How is it any different than the liberals saying Republicans only care about money and hate poor people?

Republicans , as any conservative party in the world
do not favour freedom but slavery , i.e , they see
people as nothing else that tools to give the rich s money
its liquidity.

Surprisingly , they have a lot of mental slaves who vote for them ,
basing their choices on empty promises , the kind " support inequality,
for you may benefit from it if you re a hardworker"....

 

[Matt1970]

Conservatism needs to die an ugly death in this country before we see any real progress. Side note, guess which countries are doing the best off financially since the economy went south in 2008? Are they more liberal or conservative?

So go live there. There are probably a million people around the world that would take your spot because they understand that the absolute worst that the US has to offer is still better than what they will get in most any other country.

 

[Veliko]

So go live there. There are probably a million people around the world that would take your spot because they understand that the absolute worst that the US has to offer is still better than what they will get in most any other country.

The delusion is strong with this one!

 

[Matt1970]

The delusion is strong with this one!

That's why everyone wants to come live here. All the best doctors, engineers, everyone. Deny it all you want but this is and will still be for quite a while to come the best place on earth to live. If you don't like it, see ya.

 

[Atreus21]

LONDON (Reuters) - Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income tax revenues, according to research published on Sunday.

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 - puts the sum at between $21 and $32 trillion.

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.

The research estimates that since the 1970s, the richest citizens of these 139 countries had amassed $7.3 to $9.3 trillion of "unrecorded offshore wealth" by 2010.

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

A. These aren't strictly Americans. This is global.
B. Wow. $280 billion of lost revenue. That could...gosh...cover about one fifth of this year's deficit in this country alone.
C. I admit, nothing would make me happier than killing people and taking all their money for myself. I'm a democrat after all, just like techs is a republican.

 

[werepossum]

You cannot have a rational discussion about this with Conservatives because they boil every single debate down to liberals hate rich people and are jealous of their wealth. There is no point arguing with idiots who actually believe this. They are too stupid to see how the financial elite of the world are using them.

Conservatism needs to die an ugly death in this country before we see any real progress. Side note, guess which countries are doing the best off financially since the economy went south in 2008? Are they more liberal or conservative?

Well - it IS a thread about hating rich people and being jealous of their wealth. You can see how we might get confused. And we might need some further explanation as to how it is that those people who aren't "too stupid to see how the financial elite of the world are using them" are also the only people who seem unable to finance their own housing, health care, education, retirement, cell phones, Internet access . . .

To throw Dave a bone:
Mitt Romney is traveling out of the country next week. He'll be visiting Europe, Israel, and his money.

 

[Atreus21]

Originally Posted by OneOfTheseDays
You cannot have a rational discussion about this with Conservatives because they boil every single debate down to liberals hate rich people and are jealous of their wealth.

Then dave sez:

It's because they are not affected personally but they are afraid.

They should be.

The roar of the little people they are squashing is getting louder and louder everyday.

hee hee.

 

[Abwx]

Well - it IS a thread about hating rich people and being jealous of their wealth.

No work can create wealth by the millions $ , "earning" so much money
means that a wealth transfer has occured.

That such wealth transfers are legal is irrelevant in the discussion
since legality is fixed by those who hold the financial power.

Yet , those capitalists , when caught in the bad side of the bidding/ask
negociation , are prompt to ask for the state to bail out their losses,
forcing the governements to buy overvalued junk bonds at face value.

By this massive fraud , they managed to sell their junk to whole nationqs,
when they should have been killed in a trap liquidity with illiquid paper.

 

[werepossum]

No work can create wealth by the millions $ , "earning" so much money
means that a wealth transfer has occured.

That such wealth transfers are legal is irrelevant in the discussion
since legality is fixed by those who hold the financial power.

Yet , those capitalists , when caught in the bad side of the bidding/ask
negociation , are prompt to ask for the state to bail out their losses,
forcing the governements to buy overvalued junk bonds at face value.

By this massive fraud , they managed to sell their junk to whole nationqs,
when they should have been killed in a trap liquidity with illiquid paper.

Nice to find someone educated enough to explain to me how Apple, IBM and Microsoft can't possibly have happened, how Steve Jobs and Bill Gates became wealthy by "wealth transfers" only made legal because they changed the laws.

And not to be a grammar Nazi, but did you type that post with a live ostrich? That seems unreasonably cruel considering that the ostrich apparently dictated it. I swear, it looks kind of like poetry, perhaps the kind scrawled on a wall next to a bludgeoned corpse.

 

[Abwx]

Nice to find someone educated enough to explain to me how Apple, IBM and Microsoft can't possibly have happened, how Steve Jobs and Bill Gates became wealthy by "wealth transfers" only made legal because they changed the laws.

They did benefit health transfers of course since it is a tenet
of capitalism.

That these health transfer are legal doesnt exonerate
them from being transfers....

You should study a little more about capital accumulation ,
a basic capitalist scam , wich you obviously are not aware of,
hence your unability to have an opinion based on something
else than a basic dogmatism.

As for commenting on grammar , it s all that is left
to those who have no valuable point...

 

[Veliko]

That's why everyone wants to come live here. All the best doctors, engineers, everyone. Deny it all you want but this is and will still be for quite a while to come the best place on earth to live. If you don't like it, see ya.

Oh good grief, you really believe all that stuff.

"Some people far cleverer than me come here to make money, that means it's the best place on earth."

 

[bpatters69]

Libs hate what the rich have done to America.

How so? How about some specifics?

 

[bpatters69]

You cannot have a rational discussion about this with Conservatives because they boil every single debate down to liberals hate rich people and are jealous of their wealth.

Based on what I have read on this thread, it is evident that libs do hate the rich or they are at least jealous of the rich. What is your next come back against conservatives? Lemme guess.... conservatives are a bunch of gun toting, racists? Gee, how original.