£13tn hidden from taxman by global elite

[Edward lV]

http://www.guardian.co.uk/business/2...fshore-economy

Any word on what is being done about this? Is there anything we or our governments can do because it seems to me that the people doing this are those who wield the most power which kind of paralyzes any political form of action. Apparently merely taxing the interest gained by this money would double the level of international aid given annually to developing countries.

[King Gambrinus]

Not surprising. They're as bad as benefit thieves.


And the Republican candidate for the Presidency of the US is among them too...

[Thorn777]

^Why care. Its crazy as ever. Flaunting with stupidity.

Not surprising. They're as bad as benefit thieves.


And the Republican candidate for the Presidency of the US is among them too...

No, they are allot worse. I hate this "Gleichmacherei". That popular middle of the road stuff that completely avoids larger context.

[John ''True Grit'' Wayne]

Lock and ,load and get the cash back

[Aeneas Veneratio]

I would like to say congratulations to these bright individuals! Nice to see that some money are unreachable by the governments.

[justicar5]

I would like to say congratulations to these bright individuals! Nice to see that some money are unreachable by the governments.

Fine, we should withdraw police protection from them. They want to evade taxes? Then they can loose all the benefits of being a member of society. In the middle ages it was called outlawry.

[Aeneas Veneratio]

Fine, we should withdraw police protection from them. They want to evade taxes? Then they can loose all the benefits of being a member of society. In the middle ages it was called outlawry.

The reason why a government should have as few money as possible is: It's usually completely incompentent and run by populist morons, who don't give a rat's behind about the wellbeing of the country.
As for the financial elite, they are also the ones, who run huge corporations and companies, which employ thousands of people. You would have significantly fewer middle class taxpayers, if it wasn't for these people.

Police protection??? In my country the police is too lousy to assist people, while the state is perfectly adequate to punish people from defending themselves.

[justicar5]

The reason why a government should have as few money as possible is: It's usually completely incompentent and run by populist morons, who don't give a rat's behind about the wellbeing of the country.
As for the financial elite, they are also the ones, who run huge corporations and companies, which employ thousands of people. You would have significantly fewer middle class taxpayers, if it wasn't for these people.

Police protection??? In my country the police is too lousy to assist people, while the state is perfectly adequate to punish people from defending themselves.

I mean legal protection, as in nothing done to them will be investigated. Oh and find me a CEO who isn't a criminal or damn close, and then wait a bit, they all slip and get caught eventually.

[Yosemite]

it looks like taxes do not matter when it comes to "tax evasion"

it can be high, low, they'll still evade it

[Heinz Guderian]

You couldnt say "Goldman Sachs, Philip Green, hoarding money", in one sentence in Germany without facing possible prosecution

[Caelius]

Is anyone really all that surprised?

The majority of that money has been sequestered and stolen by tin pot dictators and oligarchs in 3rd world countries and then placed in off shore accounts. Men like Gaddafi and Assad still probably have frozen assets that could counted as part of those bank accounts.

It's estimated that Fidel Castro has upwards of 900 million in Switzerland, and Vladimir Putin somewhere in the range of 40 billion.

[Heinz Guderian]

You only mentioned Enemies of The US of A. What about the good guys Caelius? Which of those wonderful bastards have been spiriting away their people's money?

[L'Afrique]

The real insult is that most of this money is just sitting, accumulating interest rather than being used for economic growth, and people will still claim that it is both horrible state tyranny and economically unviable to try and force these people to contribute an amount of taxes that is merely EQUAL in proportion to that which the middle class pays. These businessmen and bankers couldn't make their money without our country's infrastructure and laws, to make them pay into it like the rest of us.

[Phier]

Its every citizens right and duty to pay as little taxes as possible.

it would generate a bumper £121bn in revenues

So basically this would pay the increase of the US debt for about a five weeks. Being of course I'm going to assume most of them are not even US citizens, its not going to do a whole hell of a lot for my country.

What this is, is a typical guardian style piece to make its core readership feel confident in their beliefs that its rich people and banks which are to blame for government financial issues, and not the government spending.

[L'Afrique]

Its every citizens right and duty to pay as little taxes as possible.



So basically this would pay the increase of the US debt for about a five weeks. Being of course I'm going to assume most of them are not even US citizens, its not going to do a whole hell of a lot for my country.

What this is, is a typical guardian style piece to make its core readership feel confident in their beliefs that its rich people and banks which are to blame for government financial issues, and not the government spending.

Objectively, it is capitalist forces in the finance and housing industries which have caused the current recession. You can argue that increased government intervention will not help/will exasperate the situation, but saying the government is responsible is empty rhetoric.

[Phier]

Objectively, it is capitalist forces in the finance and housing industries which have caused the current recession. You can argue that increased government intervention will not help/will exasperate the situation, but saying the government is responsible is empty rhetoric.

Being the government in my country encouraged such loans actively in the late 90's, and then protected said practice once the danger was recognized, I don't see how you can say the government is not responsible to a good degree. The dangers of these polices was known as early as 1995. Government was also responsible for the bail outs which followed and are still going on.

Added that governments increased their spending during the boom years because they had the money available, its not as if they were all "in the black", they spend money as it comes without regard to the future.

[Yosemite]

Its every citizens right and duty to pay as little taxes as possible.



So basically this would pay the increase of the US debt for about a five weeks. Being of course I'm going to assume most of them are not even US citizens, its not going to do a whole hell of a lot for my country.

What this is, is a typical guardian style piece to make its core readership feel confident in their beliefs that its rich people and banks which are to blame for government financial issues, and not the government spending.

the richest can more easily evade the taxes than the poorer

Wan't it a Republican who said taxes are the price we pay for a civilised society?

how will americans have a strong army if americans don't pay taxes?

[King Gambrinus]

So do you evade taxes, Phier, while calling yourself a patriot?

[Phier]

So do you evade taxes, Phier, while calling yourself a patriot?

What the hell does "evading taxes" mean?

Do I do illegal things to avoid taxation? Hell no. Do you know why? The IRS is the one branch of government where you are definitely guilty until proven innocent. They can simply shut you down. You NEVER under report on taxes thats just stupid and asking to go to jail and be fined to oblivion.

If you mean do I take every deduction I can manage, then damn straight. Only a left winger would equate paying unnecessary taxes as patriotism. Of course they would only feel that way about others paying taxes anyways not themselves. Ask for Nanci Pelosi's tax return some time

[King Gambrinus]

What the hell does "evading taxes" mean?

You're right, I'm sorry. The only difference between the two is you're not prosecuted if you avoid tax. You're still a thief though.

Do I do illegal things to avoid taxation? Hell no. Do you know why? The IRS is the one branch of government where you are definitely guilty until proven innocent. They can simply shut you down. You NEVER under report on taxes thats just stupid and asking to go to jail and be fined to oblivion.

If you mean do I take every deduction I can manage, then damn straight. Only a left winger would equate paying unnecessary taxes as patriotism. Of course they would only feel that way about others paying taxes anyways not themselves. Ask for Nanci Pelosi's tax return some time

Question answered then. Not surprised considering you're the CEO of a multi-million dollar company...Did I mention I was Spartacus?