Super Rich hide £20/$32 TRILLION in offshore Tax Havens

reply to post by boncho



Of course we should care!!
Why do you think they come looking for more tax? because the richest don't pay their share, so we have to make up the difference.

reply to post by gladtobehere



Why do you think taxes are so high? Because of tax evasion & avoidance and billionaires getting tax breaks and using loopholes and buying government policies.
Taxes are fair and necessary, no issues there, but it's always the poor and squeezed middle who suffer while the super rich don't pay their fair share, siphon the money out of the system and end up costing the rest of us.

Don't blame the just government, blame the parasites at the top!

Driven up by the costs of World War I, the initial tax rate on the very rich was high, reaching a peak of 77 percent in 1918. By the early twenty-first century, the effective tax rate at the very top had fallen to less than a third of that level. Strikingly, as the tax rate at the top fell, it rose on those lower down the income distribution—in the political fight over tax rates, the plutocrats have outfoxed the merely wealthy. In 1916, millionaires that era’s super-rich—were hit with a published income tax rate of 65 percent, nearly 35 points higher than the rate for the merely affluent. Capital gains were taxed at the same level as ordinary income, and most Americ ans paid no income tax at all. Today, that fiercely progressive curve has been reversed. Within the 1 percent, the richer you are, the lower your effective tax rate: in 2009, the top 1 percent paid over 23 percent of their income in tax, the top 0.1 percent paid just over 21 percent, and the top four hundred taxpayers paid less than 17 percent. Capital gains, an important source of income for the plutocrats but less significant the lower you go down the income distribution, were taxed at just 15 percent in 2012.

from "Plutocrats The Rise of the New Global Super-Rich" - Chrystia Freeland

So lets see, 15% of 5 million = 750,000 so income after tax = 4,250,00 . In 1918 the tax would have been 3,850,00 and net income 1,150,000.

32 TRILLION and not even counting toys such as cars,boats,mansions and gold?Good grief their interest payments alone is more than many third world countries earn a year.Jeez!

Waiting for the extremists and "libertarians" to come in here and tell us all why this is ok and we should just let the super rich do whatever they want with their billions. Absolutely disgusting. I am all for freedom but you know what? I'm also for equality. If there is anyone that can afford to pay their taxes, it's these people. Yet these vultures shirk their civil responsibilities and pass the buck on to people who can barely afford to pay their utility bills.

I truly believe that most problems can be solved without violence, but things like this sometimes make me think these people should be hanging from street lamps with the politicians who help them cheat the rest of us.

And this is why GDP is nothing but a cock and bull story created to pull the wool over the eyes of the plebeians... just a bunch of numbers on a piece of paper that mean absolutely nothing other than what is allowed to be seen on the surface.

... conveniently created during the Great Depression in the mid 1930's - (which should tell you all you need to know).

reply to post by deadseraph



You'll notice that they're missing from this thread.
They're willing to defend the 85 richest people no problem, perhaps not as keen on tax evasion?

It's disgusting to think these billionaires are keeping all that money to themselves, knowing that they'll never even spend a fraction of that amount in their lifetime.

Just think of how better off millions of starving or homeless people would be if they gave up just a tiny amount of that overall amount.

Good to see a positive thread in which its not the poor being blamed for the state of the economy. The problem clearly is multi-national companies, running monopolies and paying barely a roll of toilet paper in tax.

I know it.

You know it.

The world knows it.

reply to post by SearchLightsInc


In the UK the goverrnment told us thjey were shutting down the tax havens for the rich but because all on our front benches in the government are millionaires and probably far richer than that, vested interest will ensure they don't hurt their own financial security.

Today on the radio we have this very serious voice telling us we must declare all our income - the whole system makes me sick and we really do need to get a better representation of the public in our governments that the tofts we have today.

Shiloh7
reply to post by SearchLightsInc

 

In the UK the goverrnment told us thjey were shutting down the tax havens for the rich but because all on our front benches in the government are millionaires and probably far richer than that, vested interest will ensure they don't hurt their own financial security.

Today on the radio we have this very serious voice telling us we must declare all our income - the whole system makes me sick and we really do need to get a better representation of the public in our governments that the tofts we have today.

Haha i know exactly what you mean. You want to know what else they all have in common? Private education.

VoidHawk

Do you think its an education problem? Why cant people see it? Its right in everyones face and all they can do is fight each other.
Sometimes I just wonder if they deserve whats coming because how can people be so stupid!!

I think it's a dumbing down problem, not education but entertainment.
People are too preoccupied and they don't like to think about these things.
Even when their eyes are opened, they soon go back to burying their heads in the sand, ignorance is bliss

SearchLightsInc
Good to see a positive thread in which its not the poor being blamed for the state of the economy. The problem clearly is multi-national companies, running monopolies and paying barely a roll of toilet paper in tax.

I know it.

You know it.

The world knows it.

Indeed....and look at the attention it's getting? Tells you something about ATS and it's political, social leanings.
If this was "poor are to blame for the economy" it would be hundreds of pages of people attacking Obama, Welfare, Taxes and all manner of things, but this is attacking wealthy people, this is a huge, actual crime...a conspiracy, and people just don't want to know.


ATS is a joke.

blupblup

VoidHawk

Do you think its an education problem? Why cant people see it? Its right in everyones face and all they can do is fight each other.
Sometimes I just wonder if they deserve whats coming because how can people be so stupid!!

I think it's a dumbing down problem, not education but entertainment.
People are too preoccupied and they don't like to think about these things.
Even when their eyes are opened, they soon go back to burying their heads in the sand, ignorance is bliss

I think it's a " I don't give a damn what the public thinks" attitude by the wealthy. they created these tax havens and control the governments that allow them. "we the people" have no enforcement mechanism to counter this corruption, and the wealthy know it.

reply to post by stargatetravels


LOL the world bank and the IMF are the most wealthiest people in the world. When u have the power to print money your wealth is infinite.

The World Bank and IMF just want to tax people because they are scumbags. They don't even need the money. They have all the wealth they need but they rather enslave everyone to government debt to control them.

It was Clinton that said we will turn the wealthy into the middleclass and the middleclass into the poor class.

They want to destroy any wealthy people who is self sufficient, except themselves and their elite people of course. That way they can rule the world because they will be the only ones with money in the end.

reply to post by jimmyx


Half the reason they don't give a damn is because of the usual response from the "Libertarians" who applaud this type of behaviour. Or make excuses for it, or blame you for not doing the same. Taxes are bad (unless they're paying for the MIC), which seems to get a free pass. Especially if they've received socialised entitlements from the military in the past or still receiving them.

These tax dodgers are viewed as the Ayn Rand heroes they all admire.

blupblup

SearchLightsInc
Good to see a positive thread in which its not the poor being blamed for the state of the economy. The problem clearly is multi-national companies, running monopolies and paying barely a roll of toilet paper in tax.

I know it.

You know it.

The world knows it.

Indeed....and look at the attention it's getting? Tells you something about ATS and it's political, social leanings.
If this was "poor are to blame for the economy" it would be hundreds of pages of people attacking Obama, Welfare, Taxes and all manner of things, but this is attacking wealthy people, this is a huge, actual crime...a conspiracy, and people just don't want to know.


ATS is a joke.

Yes, there is a distinct lack of ATS poster's defending this insatiable greed of global corporations in this thread. Two pages in and im still yet to read the words "People need to learn more skills to earn a bigger wage"

Clearly the only thing i need to learn is how to sell my soul and become a greedy spineless politician/banker/accountant.

[reply to post by amfirst1




What? So these poor billionaires are victims of the evil IMF?
I don't agree with your assessment at all.

The biggest tax haven is onshore and in England it is called "The City of London" it is one square mile and the bank of London is central to it, it has been used as a tax haven for 200 years. Also known as the "city of London corporation".


Map of London - city of London corporation in red



It has its own flag - see wiki - en.wikipedia.org...

Its own Mayor (Not Boris)

www.newstatesman.com...

www.theguardian.com...

www.therules.org...

I am aware some people know about this, but this is for the people that don't.

All the worlds banks are located there, funny this never gets a mention from David Cameron and his side kick George Osbourne.

Because we all know the millions claimed by the poor in benefits is far far more important than the billions laundered by the rich.

Wealthy venture capitalist Tom Perkins says the 1% in America are treated like Jews in Nazi Germany

In a letter to the editor in the Wall Street Journal, Perkins warns of a "progressive Kristallnacht"

Writing from the epicenter of progressive thought, San Francisco, I would call attention to the parallels of fascist Nazi Germany to its war on its “one percent,” namely its Jews, to the progressive war on the American one percent, namely the “rich.”

From the Occupy movement to the demonization of the rich embedded in virtually every word of our local newspaper, the San Francisco Chronicle, I perceive a rising tide of hatred of the successful one percent. There is outraged public reaction to the Google buses carrying technology workers from the city to the peninsula high-tech companies which employ them. We have outrage over the rising real-estate prices which these “techno geeks” can pay. We have, for example, libelous and cruel attacks in the Chronicle on our number-one celebrity, the author Danielle Steel, alleging that she is a “snob” despite the millions she has spent on our city’s homeless and mentally ill over the past decades.

This is a very dangerous drift in our American thinking. Kristallnacht was unthinkable in 1930; is its descendent “progressive” radicalism unthinkable now?

From the author of the article, Elias Isquith:

For those who don’t already know: Kristallnacht was a giant anti-Semitic riot, organized by the Nazi government, that left nearly 100 Jews in Germany and Austria murdered and resulted in the incarceration of some tens of thousands more in concentration camps. It was an act of coordinated barbarism done in service of the Nazis’ ultimate goal, the expulsion (and, later, elimination) of Europe’s Jewish population.

American progressives, on the other hand, would like to see Tom Perkins pay more in taxes.

Well, this whole money thing gets more interesting every day