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Old 07-22-2012, 03:40 PM #295
EricS6661
 
 
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I don't see how that's competition...

I see it as the wealthy making their millions and wanting more, so they evade taxes by using these loopholes and tax havens. The money is not being invested back into the company or the economies it came from. It isn't helping business, it is only hurting.

Looking at you Romney
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Old 07-22-2012, 09:47 PM #296
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More information

Super rich hiding up to $32 trillion offshore

Quote:
John Christensen of the Tax Justice Network told Al Jazeera that he was shocked by "the sheer scale of the figures".

"What's shocking is that some of the world's biggest banks are up to their eyeballs in helping their clients evade taxes and shift their wealth offshore," said Christensen.

"We're talking about very big, well-known brands - HSBC, Citigroup, Bank of America, UBS, Credit Suisse - some of the world's biggest banks are invovled...and they do it knowing fully well that their clients, more often than not, are evading and avoiding taxes."

Much of this activity, Christensen added, was illegal.

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.
http://www.aljazeera.com//news/europ...418435676.html

http://www.taxjustice.net/cms/front_....php?idcat=148
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Old 07-22-2012, 09:49 PM #297
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I do not blame people for wanting to keep their property. I empathize.
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Old 07-22-2012, 09:51 PM #298
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Most liberal arts majors are worthless in their own right, unless you plan on going to grad school.
That negates the actual purpose of higher learning.
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Old 07-22-2012, 10:07 PM #299
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I do not blame people for wanting to keep their property. I empathize.


They are evading taxes, which is highly illegal and the banks had their hands in it.
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Old 07-22-2012, 11:04 PM #300
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Quote:
Originally Posted by EricS6661 View Post


They are evading taxes, which is highly illegal and the banks had their hands in it.
I empathize with not wanting to pay taxes.
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Old 07-22-2012, 11:05 PM #301
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Old 07-22-2012, 11:07 PM #302
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What, you want to pay taxes? You aren't doing it because of the threat of violence? You are doing it out of the goodness of your heart?
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Old 07-22-2012, 11:17 PM #303
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We pay taxes for infrastructure, public education, prisons, police, fire departments, water, garbage, social services, etc.

These are what allow our country and our local communities to operate.

So let me end this by saying, you are an idiot.
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Old 07-22-2012, 11:19 PM #304
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I didn't ask you what taxes pay for, Mr Genius. I asked you if you WANT to pay taxes, then I asked if you paid out of the goodness of your heart OR if you did it because of the consequences for not paying them.

If you're too smart to answer the question from a dullard, such as myself, it is ok. That, too, serves as an answer.
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Old 07-22-2012, 11:36 PM #305
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You're presenting a massive false dichotomy.

1.) I want to pay taxes
2.) I do it because of the threat of violence

There is a third option:
3.) I don't want to pay taxes, but I do it because I understand what they pay for (even if I may not agree with some of it).
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Old 07-22-2012, 11:54 PM #306
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I don't see how that's competition...
One country is making it more advantageous for people to move money into that country than other countries make it to keep money in their country. It is like Ridgid using their lifetime battery replacement warranty to compete against Dewalt to attract more money from power tool consumers.

Quote:
The world's super-rich have taken advantage of lax tax rules to siphon off at least $21 trillion, and possibly as much as $32tn, from their home countries and hide it abroad – a sum larger than the entire American economy.
Quote:
"We're talking about very big, well-known brands - HSBC, Citigroup, Bank of America, UBS, Credit Suisse - some of the world's biggest banks are invovled...and they do it knowing fully well that their clients, more often than not, are evading and avoiding taxes."

Much of this activity, Christensen added, was illegal.
Which is it? People taking advantage of lax tax laws or illegal tax evasion? If the taxes are being evaded, why aren't there criminal charges pending?

I have asked this on other forums, and no one could give a concrete answer. We have heard that everyone should be paying their "fair share of taxes". What is everyone's fair share of taxes and why?

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Old 07-24-2012, 09:23 AM #307
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Quote:
Originally Posted by EricS6661 View Post
I don't see how that's competition...

I see it as the wealthy making their millions and wanting more, so they evade taxes by using these loopholes and tax havens. The money is not being invested back into the company or the economies it came from. It isn't helping business, it is only hurting.

Looking at you Romney
This article may help:
http://abcnews.go.com/Technology/wir...8#.UA6ANKDVtF1

custar
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Are the Geisterjagers over the top?
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Old 07-24-2012, 09:27 AM #308
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