Super-rich 'hiding' at least $21tn

A global super-rich elite had at least $21 trillion (£13tn) hidden in secret tax havens by the end of 2010, according to a major study.

http://www.bbc.co.uk/news/business-18944097

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The report
http://www.taxjustice.net/cms/upload/pdf/The_Price_of_Offshore_Revisited_Presser_120722.pdf

 

If the tax cheats pony up it will pay off two thirds of the national debt. And those assholes are trying to put their fellow tax cheat in the White House. Nothing like putting the fox in charge of the hen house.

 

clever bastards.

 

Just sickening when people of the world are dying of starvation. I can hardly wrap my head around the evilness.

 

Yup--as long as 1 child in the world is starving--the whole rig is being run incorrectly. That kind of money allows the holders of it to write the laws that gives the selfsame rich the advantages.

 

There ya go man, keep as cool as you can. Face pile of trials with smiles. It riles them to believe that you perceive the web they weave. And keep on thinking free.-Moody Blues, but it applies to this post.:iagree:

 

Well, taxing the super-rich wouldn't help because they would simply take their assets elsewhere and that would hurt the people even more. How would the commoners get jobs if there were no super-rich?

 

It's more like 500 trillion

 

we would become farmers again...that is if the rains ever come back.

the breadbasket of the world is suffering crippling drought.

the corn yield this year is going to be about 1/3 of what it should be normally. this means the price of gas, milk, eggs, pork, beef, chicken, cheese (any dairy) - are all going to go up. And it isn't going to come back down for at least another 2 years, and that's only if we get rain back here.


honestly though, if the super elite rich were to leave, I think we would find ourselves much better off. life would be way different. but it'd be better in the long run.

 

+rep ^^^

 

The rich don't create jobs, consumers do. Consumers even fashion the products that make the rich, rich.

 

The economy is based on supply and demand, not on the jobs that the super rich provide. Demand is created by what us commoners need and can afford. Commoners are a bigger economical driving force than the rich care to admit.

On another related topic, these are the same assholes that have convinced the lower and middle class that social programs are essentially evil. Yeah, they're pretty evil when the people paying for the majority of them in the form of taxes are the people that also need them.

 

That didn't seem to happen in the 1950's when the top taxes were pegged at 90%. Everyone did great.

 

It just amazes me to think that there is all this money out there being controlled by 1% of the global population when the lower middle class is still struggling to make ends meet. Not that this is new information to me, it's not, it's just sad.

 

Could you imagine if so few of that 1% gave even a LITTLE of their enormous hoard of wealth, how that would affect our ability to spend money in humanitarian/civil efforts?

We need to officially end tax cuts for private charity and shit like that. Charity goes through so many hands before that money even has a tiny impact.

 

Some of the economy is based on supply and demand, Some, like the price of oil (and thus the cost of just about everything else to some extent) is based on speculation...

Speculators determine what a "barrel of oil" is going to cost and this immediately changes the cost of a gallon of gas that's already in that tank under the pumps at the station you stop at, regardless of supply and demand. Many times it (cost of gasoline) actually runs the opposite of the supply/demand rules. Like holiday weekends... More is sold but the price goes up, not down.

But yeah, many other goods are still supply/demand based and they move the economy.... The rich fuckers just take their cut off the top.

 

I totally agree. It's ridiculous that so little would help so much, but we will likely never see a radical change in this area. I do know there are avery small few elite that donate a great deal of their wealth out of the goodness of their heart without worrying about the tax benefit of doing so, but that is a tiny minority. Most of the greedy fools couldn't care less.

 

Most economists today would laugh out loud at that statement. They actually believe the opposite:

Today’s breed of economists are known as supply-side economists; they believe supply creates its own demand.

They fight against taxing the super-rich (investor and entrepreneur types), arguing they provide economic benefits that trickle down into the overall economy so they shouldn’t be burdened by taxation. They vehemently fight against government regulations.

George Bush I called it voodoo economics, which is the reason for today's class of super-rich.

 

No, they don't believe it,they're just trying to make us believe it. It's the old adage, "tell a lie often enough and the sheep will believe it." The BEAST, FALSE PROPHET AND ANTICHRIST are the government, the media and corporate business. They have already taken over the world. So bend over and crack a smile. It only hurts when you clench.

 

Agreed