Super Rich Hiding $21 Trillion

#2
#2
Think of their money like an unborn fetus....they can do what ever they want to with it.
 
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#3
#3
good for them

this is not about saving the rich it's about keeping the govt from taking in more money and expanding to the point of no return. Your hatred is directed at the wrong people
 
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#4
#4
and I'm sure the Tax Justice Network is as non-partisan as it claims to be
 
#5
#5
Sounds like most if from non-US citizens. Should we make them pay their "fair share"?

Daniel N. Shaviro, a professor of taxation at New York University, told ABC News a lot of what’s happening is tax fraud. He said the report highlights that there are wealthy people who don’t want to pay taxes — and their home countries don’t have enforcement mechanisms in place, so they can get away with it.
In a list of the top 20 countries experiencing “global flight wealth,” China ranks as number one with $1.19 trillion. It is followed by Russia, Korea, Brazil and Kuwait.
“Often these countries in general have not been rich for as long as the U.S. or England so they may not have both the rule of law and their enforcements may not be as well developed,” said Shaviro.
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#6
#6
Curiously, the newest Obama plan to push money into the economy is for the lower and lower middle income people because....they will spend the money. I guess as opposed to saving it. And of course, many simply need to make purchases for essentials but the question remains...do they get this way because they spend what they get rather than saving?
 
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#7
#7
Lexvol said:
Think of their money like an unborn fetus....they can do what ever they want to with it.
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Sorry Lex, no can do. I can't think of that $21 trillion like an unborn fetus. Why not, you might ask? Because money is not an unborn fetus, and money is not like an unborn fetus.
 
#8
#8
And you think Obamas policies will free up that money to invest as they see? or just take it by force?
 
#11
#11
Wahoos1 said:
Curiously, the newest Obama plan to push money into the economy is for the lower and lower middle income people because....they will spend the money. I guess as opposed to saving it. And of course, many simply need to make purchases for essentials but the question remains...do they get this way because they spend what they get rather than saving?
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Bill Clinton spoke frankly about this in an interview. He favored stimulating the economy by putting money directly into the hands of people who would create demand for more production by spending the money. Our economy is slow, because money isn't flowing. The banks have plenty of money now, but they are just not putting it into circulation for investments which create jobs.
 
#12
#12
Vol Main said:
Sorry Lex, no can do. I can't think of that $21 trillion like an unborn fetus. Why not, you might ask? Because money is not an unborn fetus, and money is not like an unborn fetus.
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What right do you have to put any kind of claim on their money? Who has given you that right?
 
#14
#14
Lexvol said:
What right do you have to put any kind of claim on their money? Who has given you that right?
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I don't put any claim on their money; I'm not the government. Are you a tax protester? Do you believe that the government has no right to levy taxes?
 
#15
#15
Wahoos1 said:
Curiously, the newest Obama plan to push money into the economy is for the lower and lower middle income people because....they will spend the money. I guess as opposed to saving it. And of course, many simply need to make purchases for essentials but the question remains...do they get this way because they spend what they get rather than saving?
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I think it's an interesting debate. Personally, I believe that the more the government takes on these things the more people let them and become dependent on them. I don't see how it is a hand-up as opposed to a hand-out. Clearly individual experiences will vary.
 
#17
#17
Vol Main said:
Bill Clinton spoke frankly about this in an interview. He favored stimulating the economy by putting money directly into the hands of people who would create demand for more production by spending the money. Our economy is slow, because money isn't flowing. The banks have plenty of money now, but they are just not putting it into circulation for investments which create jobs.
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Banks are not lending because interest rates are too low. If they are not going to make money on the loan, they are not going to make the loan
 
#18
#18
Vol Main said:
I don't put any claim on their money; I'm not the government. Are you a tax protester? Do you believe that the government has no right to levy taxes?
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I don't think there is anything fair or constitutional about a progressive tax system. Furthermore, my money is my money. Nobody has a fair claim to that but me.
 
#20
#20
volinbham said:
particularly since the article makes it sound like the vast majority of these folks aren't US citizens!
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so? ferners have no more right to their own wealth than any American.

by the way, what are the tax brackets on wealth?
 
#21
#21
Vol Main said:
Bill Clinton spoke frankly about this in an interview. He favored stimulating the economy by putting money directly into the hands of people who would create demand for more production by spending the money. Our economy is slow, because money isn't flowing. The banks have plenty of money now, but they are just not putting it into circulation for investments which create jobs.
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which banks have plenty of money now? Which of those are being allowed to lend? Have you tried to borrow any money lately? Do you have any idea how a loan is treated, from a regulatory capital point of view, once a loan is made?

Maybe you just have no idea what you're talking about - again.
 
#22
#22
I just skimmed through the report linked in the article - it appears it is all about other countries with no mention of the US or US citizens. The pie chart at the end lists many countries and the amount their citizens are "hiding". The US is not one of them.

Now - are we supposed to be taxing these SOBs?
 
#23
#23
volinbham said:
I just skimmed through the report linked in the article - it appears it is all about other countries with no mention of the US or US citizens. The pie chart at the end lists many countries and the amount their citizens are "hiding". The US is not one of them.

Now - are we supposed to be taxing these SOBs?
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The UN may eventually be useful!
 
#24
#24
Vol Main said:
I don't put any claim on their money; I'm not the government. Are you a tax protester? Do you believe that the government has no right to levy taxes?
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The government has the right to levy taxes. The question is no whether they have the right, but what level of taxation is appropriate.

Too bad the US can't levy taxes on the citizens of other nations. If they could, this $21 trillion number might be relevant to the US tax policy debate.
 
#25
#25
volinbham said:
I just skimmed through the report linked in the article - it appears it is all about other countries with no mention of the US or US citizens. The pie chart at the end lists many countries and the amount their citizens are "hiding". The US is not one of them.

Now - are we supposed to be taxing these SOBs?
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Absolutely!!!! Lets tax everyone who has money, kind of like those red light/speeding cameras. Send everyone a 200 tax bill. Hell, some of them might send us something back.... Never know..... Vol Main on to something here!!!
 
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