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What are you thinking about Boutons? This is about the worlds super rich and not your usual USA/repug articles you copy and post here. God bless
Super-Rich Hiding At Least $21 Trillion In Tax Havens
According to a new study, the world’s super-rich are shielding at least $21 trillion in secret offshore tax havens. Using data from the Bank of International Settlements, IMF, World Bank, and national governments, the Tax Justice Network found that an astonishing 100,000 people worldwide hold nearly $10 trillion of offshore wealth, equivalent to the size of the Chinese economy. According to the study:
1. Big banks manage the wealth. The three private banks handling the most assets offshore are UBS, Credit Suisse, and Goldman Sachs.
2. Offshore wealth is creating a global economic “black hole.” If the $21 trillion in offshore earned a conservatively-estimated 3 percent rate of return, and that income was taxed at just 30 percent, this would generate tax revenues of nearly $200 billion — roughly twice the amount OECD countries spend on international development assistance.
3. High impact on developing countries. In the 139 developing countries highlighted in the report, the richest citizens had amassed $7.3 to $9.3 trillion of unrecorded offshore wealth that is beyond the reach of local tax authorities. The report reveals that many developing “debtor” countries are actually quite wealthy, but the money is held by a few individuals.
4. Huge tax haven growth in the last few years. In 2005, the world’s top 50 banks managed $5.4 trillion in offshore money. By the end of 2010, the figure is over $12 trillion, representing an average annual growth rate of more than 16 percent.
This tax avoidance study comes at a time when many are questioning presidential hopeful Mitt Romney’s use of tax havens. As an executive at Bain Capital, Romney routed investments through companies in Bermuda or the Cayman Islands to allow investors to avoid U.S. taxes.
http://thinkprogress.org/economy/201...on-tax-havens/
What are you thinking about Boutons? This is about the worlds super rich and not your usual USA/repug articles you copy and post here. God bless
Stick this up your holy rollin ass:
Major Banks Have Created Thousands Of Tax Dodging Subsidiaries In The Last Two Decades
The biggest U.S. banks created more than 10,000 subsidiaries in the past 22 years as they expanded, using legal structures to pay lower taxes and escape tighter regulation, according to a Federal Reserve study.
JPMorgan Chase & Co. (JPM), the largest U.S. lender, has the most units at 3,391, followed by Goldman Sachs Group Inc., Morgan Stanley and Bank of America Corp. (BAC) with more than 2,000 each, the study by the Federal Reserve Bank of New York shows. Citigroup Inc. (C), the third-largest lender, has 1,645. [...]
The subsidiaries in the Fed study include the banks’ overseas units. For Morgan Stanley, Goldman Sachs (GS) and New York- based Citigroup, about half the legal en ies are based outside the U.S. At JPMorgan and Charlotte, North Carolina-based Bank of America, the ratio drops to below a quarter.
http://thinkprogress.org/economy/201...-subsidiaries/
There were 50K accounts owned by US citizens in Swiss bank accounts in just one Swiss bank a few years ago.
Republicans don't care because they hope to skirt laws tax laws themselves one day.
You have my respect even when you ask me to stick something up my ass. I know you kid. I'm not connecting the articles together you copy and posted. God bless
Jesus is all about the rich man..
john tesh
Who ing cares ShazBot?
Why are you so full of hate?
How do you live any type of meaningful live like that?
I've often wondered the same thing.
Most of the he es about is just as bad or worse (sometimes much worse) everywhere else in the world. Instead of ing and calling everyone and everything you disagree with a bunch of one-off acronyms while you copy and paste random articles few people even read, why not actually put yourself together an original argument based on clearly ascertained and definable facts? Maybe, just maybe, you'll get a better response Boutons.
Oh right, too much thinking and stuff. He'd rather just call you a repug pawn of the UCA's VRWC branch.
Being ed and un able has its advantages.
Hate to have your adored, beloved 1%ers trashed, huh?
WC and Loza have nothing to add about the original message.
I want to hear more opinions from you. I have the feeling you are a very smart, interesting person who can shed some light on what's going nowadays. God bless
you haven't been paying attention
you dont get a penny from the richest bars s by tax law, use da MF'N gun instead:
You are smart and interesting. Don't ever sell yourself short on that again. More opinions and don't be shy. God bless
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