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    I told yer so, didn't I ? ( Tax avoidance ).

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    papa_umau
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    I told yer so, didn't I ? ( Tax avoidance ).

    Post by papa_umau on Sun 22 Jul 2012, 12:11 pm

    I have been chuntering on for years about the amount of money that is salted away into tax-havens by the super-rich so that they can escape from paying the rightful tax amounts that should be taken on their ill-gotten gains. NOW... all of my "chuntering" has been backed up by a clever chap that has actually counted the amount of this hidden money.

    I am not surprised that it is estimated to come to between 13 TRILLION and 20 TRILLION !

    It is also estimated that this amount is more than the total GDP of the Japanese and the American economies put together.

    An expert on tax havens has done this work for a group called "The Justice Network" that brings this money to light and that shows just how much is hidden from the tax-man.

    If the tax that is supposed to be paid on this money in Britain was gathered, the country's deficit would be wiped out in a stoke, the pensioners would get a decent state pension and our vital NHS would not be starved of cash or sneakily privatised any more.

    Read the full story concerning this scandal HERE and come back and tell us what you think.


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    Re: I told yer so, didn't I ? ( Tax avoidance ).

    Post by Guest on Mon 23 Jul 2012, 8:17 am

    If I wrote a report saying the actual number is 10 quadrillion would I get my own column in the guardian?

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    Re: I told yer so, didn't I ? ( Tax avoidance ).

    Post by papa_umau on Mon 23 Jul 2012, 10:11 am

    I doubt it as most people would be able to see that what you were saying would be lies and would be without foundation.

    There is more than one source of this news and your distrust of The Guardian means very little when the facts are out there for all to see.

    The research that arrived with this amount was not just plucked out of the sky, it was carried out for pressure group Tax Justice Network, which campaigns against tax havens, by James Henry, former chief economist at consultants McKinsey & Co. He used data from the World Bank, International Monetary Fund, United Nations and central banks.

    Read more on this from Zeenews.com
    HERE


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    Re: I told yer so, didn't I ? ( Tax avoidance ).

    Post by Guest on Mon 23 Jul 2012, 11:26 am

    I did but it read that much of the money was sovereign wealth which puts it outside the taxpayers realm.

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    Re: I told yer so, didn't I ? ( Tax avoidance ).

    Post by papa_umau on Tue 24 Jul 2012, 10:27 am

    If you mean by "sovereign wealth" the non-financial assets such as real estate, gold, yachts, valuable art and racehorses etc' then you are wrong as those types of assets are not even included in that 20 trillion or more that is hidden in offshore accounts.

    This has to be the largest scam that is perpetrated against the ordinary people of ANY country and it is only allowed to go on because it is the super-rich that have much of the control over any legislation that might be passed in order to fix the problem.

    Government after government say they are going to deal with this glaring rip-off but when it comes down to it they never do.


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    Re: I told yer so, didn't I ? ( Tax avoidance ).

    Post by Guest on Tue 24 Jul 2012, 1:42 pm

    You are still confusing ASSETS with income Paps. Most people have considerable assets but are 'cash poor' as you call them. No possibility to increase taxation exists. This article is just a paper exercise in the politics of jealousy.

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    Re: I told yer so, didn't I ? ( Tax avoidance ).

    Post by papa_umau on Wed 25 Jul 2012, 10:39 am

    You can fool yourself all you want Clapco but the facts still remain that more than 20 TRILLION of money is hidden from the tax-man in offshore accounts while the rest of us have to pay tax on ALL of our earnings - including you.

    OR... are you one of the people that are doing the hiding ?

    And BTW.... I know all about being "cash poor and property-rich" as I have fought for fairness in this arena for many years too.

    The people I am chasing are both cash-RICH and property-RICH and they are allowed to keep most of their riches - whether they are in assets or in readies - simply because they can afford to hire high-flying accountants that know every trick and every loophole in this tax-avoidance and tax-evasion scandal.

    Any person who thinks differently is naive to the extreme !


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    Re: I told yer so, didn't I ? ( Tax avoidance ).

    Post by Guest on Wed 25 Jul 2012, 11:39 am

    I am not fooling myself as I am not making any claims about this wealth. I do understand accounting though and you really are misleading people when you tell them that all this wealth is available to be taxed and distributed to the needy.

    My first boss was an accountant and he used to say that there was no point evading tax as sooner or later you would get found out WHEN YOU SPENT IT. So all these 'super rich' do pay taxes when they spend it which is not a bad thing for the economy.

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    Re: I told yer so, didn't I ? ( Tax avoidance ).

    Post by papa_umau on Thu 26 Jul 2012, 11:52 am

    Sorry mate but that is just nonsense as any such money might never appear again in the economy of the parent country when or if it is spent.

    The whole idea of tax-avoidance is to hide that money from the tax-man in the parent economy and that is why it is done and for very few other reasons.

    Maybe it is time that you woke up and smelled the coffee and realised that you too are being ripped off by these chancers !

    Even your pals "call me Dave" Cameron and "Gideon" Osborne agree in public that tax avoidance is wrong and should be resisted. ( The thing is that I am sure that in truth they are like you and want to climb high onto this bandwagon themselves ).


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