RE: $21 trillion hoard hidden from taxman by global elite
July 25, 2012 at 4:15 am
(This post was last modified: July 25, 2012 at 4:15 am by cratehorus.)
(July 24, 2012 at 11:44 pm)Stue Denim Wrote: Sounds like theft. What's actually happening is you are paying somebody 1$ for their product, they pay the tax on it, and then they are deciding to store and invest the remanding profit elsewhere.
Also, financial policies are not static, and politicians are not elected forever.
Say a politician promises not to do a tax, but 7 years down the track (after a fortune has been earned), reneges on their promise and creates that tax they promised they wouldn't, can a person move their money now? Say you were born in a country, you like the country and it's people, but recently a warmongering nut job was elected and is starting war after war, do you not have a moral duty to get your money out of there so as to deprive the bloodthirsty politician of war funds? Say you earn your money, get taxed fairly highly, and now want to move, you don't get to keep it? Say you earn your money, and want a stable banking system and tax system which your country doesn't currently provide, banking with anyone but your own country is wrong? Say that historically you've been taxed at 30% which you're ok with, so that's where you've earned your stuff, but there is talk of raising the rate to 99%, are you going to keep your stuff there?
You want a near 100% expatriation tax? Ewww.
Quote: If you want to shop around for the best tax policy, then give up the fortune you earned in my country ...
The article even states that if the $21 trillion..... EARNED 3% income per year.... and we taxed that at 30% it would equal all the money the wealthy nations give to the third world. SO if even a tax on the income of that wealth, assuming it makes just 3% per year (which is the bare minimum % of income they would earn) that too you is the same as a 99% tax on all income?
FINE!!! SO I suggest we bomb the cayman's (the banks specifically) and anyother country like switzerland or whoever, then take 101% of their money and jail the 92,000 who hoarded their wealth......Not to mention the fact that this article is about the world's elite, which includes "dictators" like Qadaffi
