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View Diary: Leak of Identities & Emails of Rich Hiding *$32 Trillion* Offshore (240 comments)

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  •  let's try again. (12+ / 0-)

    a gentleman a few months ago estimated that there is 32 trill in low tax jurisdictions.  that total includes assets from any source, whether individuals dodging tax, Apple keeping offshore earnings somewhere, or dictators stashing assets.

    my recollection is that most of the total came from MNCs and a minority came from individuals.

    •  Still.... Don't care. Like it or not we are (26+ / 0-)

      their enforcers.  Our politics (backed by our military) is throwing Greece to the flames to support the enforcement of debts represented by this hidden wealth.  Why should we be willing to trash greece or portugal or iceland or any number of south american and african countries to protect this hidden wealth?  (Not to mention the no-shortage-of-american-communities now being plundered).

      Pull the plugs, smash the hard-drives, and shred the fiber-optics.  If these people are really the super-galts the republicans would have us believe, then they'd reconstruct their wealth in no-time.  After all, truly creative people are interested in creation, not accumulation.

      Why exactly are we fighting their fights?

      To any wingnut: If you pay my taxes I'll give you a job.

      by ban48 on Thu Apr 04, 2013 at 06:05:58 AM PDT

      [ Parent ]

      •  Third World Nations would be net creditors (0+ / 0-)

        if all the loot stolen from them by their "leaders" and deposited off shore were to be recovered.

        income gains to the top 1% from 2009 to 2011 were 121% of all income increases. How did that happen? Incomes to the bottom 99% fell by 0.4%

        by JesseCW on Fri Apr 05, 2013 at 03:01:34 AM PDT

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        •  You don't have to 'recover' it. That would (0+ / 0-)

          probably inject too much cash into the global economy at once and cause a currency crisis.  It would also lead to fights over who gets to control it.  Instead, simply wipe it away.  Cancel it all out.  The debts are simply gone.  The creditors holding greece hostage have no backing on their claims.  Ditto for probably 90% of 3rd world debt.

          The banks that have been enforcing are simply the intermediaries (that is part of the laundering process, which is why you will find no direct bank deposits in these havens).  Totally delete the debt ownership records and there is literally no-one to collect.  World-wide austerity would end overnight.

          Now that would be a true radical revolution, and no-one would get killed.  In-fact, no-one would even go hungry.  The depositors in these accounts will have more than enough 'clean' money to keep them from starving.  These are not ATMs.

          To any wingnut: If you pay my taxes I'll give you a job.

          by ban48 on Fri Apr 05, 2013 at 04:46:04 AM PDT

          [ Parent ]

          •  Now we're talking about what to *do* with (0+ / 0-)

            it.

            In general, I agree with you when it comes to washing the tablets.

            income gains to the top 1% from 2009 to 2011 were 121% of all income increases. How did that happen? Incomes to the bottom 99% fell by 0.4%

            by JesseCW on Fri Apr 05, 2013 at 04:53:44 AM PDT

            [ Parent ]

      •  We aren't. And these are mainly funds of (0+ / 0-)

        individuals.

        And no one here is fighting for them. Some of it is perfectly honest; some is people from unstable countries who don't trust their own banks.

        And no, we can't confiscate it.

        I'm asking you to believe. Not in my ability to bring about real change in Washington ... *I'm asking you to believe in yours.* Barack Obama

        by samddobermann on Sat Apr 06, 2013 at 03:51:53 AM PDT

        [ Parent ]

    •  To quote another apologist for the rich (8+ / 0-)
      Corporations are people, my friend.

      +++ The law is a weapon used to bludgeon us peasants into submission. It is not to be applied to the monied elite.

      by cybersaur on Thu Apr 04, 2013 at 07:27:07 AM PDT

      [ Parent ]

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