If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Daily Mail)   Ric Romero Institute study concludes the richest of the rich are amassing wealth at an astonishing rate and increasingly hiding it in offshore bank accounts   (dailymail.co.uk) divider line 50
    More: Obvious, tax havens, offshore bank, american incomes, tax collectors, official statistics  
•       •       •

3308 clicks; posted to Main » on 14 Apr 2014 at 7:05 AM (18 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



50 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2014-04-14 07:09:56 AM
Well, then that snaps it - we are NEVER letting the Sultan of Brunei become an American citizen. That sumbiatch Carlos Slim is gonna have to stay in Mexico, too.
 
2014-04-14 07:12:14 AM
It'll be funny to see al the white trash defending this because they're all so fabulously wealthy.
 
2014-04-14 07:18:36 AM
I've worked my whole life and always paid taxes and I am not rich.  Fark you tax cheaters.  Why don't you just leave the country?
 
2014-04-14 07:18:48 AM
How long can the hyper-rich thrive just by selling things to each other?
 
2014-04-14 07:21:46 AM
Can Rick Romano not be a meme anymore?
 
2014-04-14 07:27:56 AM
The looting continues.
Are we having fun yet?
Perhaps another war is needed to keep the serfs in line?
 
2014-04-14 07:30:32 AM
That wealth will surely trickle down any day now.
 
2014-04-14 07:32:04 AM

fusillade762: How long can the hyper-rich thrive just by selling things to each other?


Those 'things' are 'financial instruments', essentially paper shuffling e.g. stock buybacks which artificially inflate stock prices, rather than actually making the business more profitable by actually increasing the value by gaining business advantage by providing a better value good or service to customers.

The spoiled rotten baby boomers are slowly killing the goose that laid their golden eggs
 
2014-04-14 07:32:32 AM

ComicBookGuy: It'll be funny to see al the white trash defending this because they're all so fabulously wealthy.


They hope to get "trickled down" upon, if they bow and scrape enough...
 
2014-04-14 07:41:16 AM
They prefer to think of their money as a citizen of the world.
 
2014-04-14 07:46:53 AM

Day_Old_Dutchie: fusillade762: How long can the hyper-rich thrive just by selling things to each other?

Those 'things' are 'financial instruments', essentially paper shuffling e.g. stock buybacks which artificially inflate stock prices, rather than actually making the business more profitable by actually increasing the value by gaining business advantage by providing a better value good or service to customers.

The spoiled rotten baby boomers whiny little lazy gen-x/y/millenials are slowly killing the goose that laid their golden eggs by not bothering to farking vote in midterms

 
2014-04-14 07:47:23 AM
I have an idea! Let's give these guys control of Social Security!
 
2014-04-14 07:49:19 AM
And the US government's idea of looking like they're doing something about it? To fark the average expat right in the ear with so much paperwork that foreign banks are increasingly unwilling to do business with US citizens. Meanwhile the .0001 who are the problem in the first place move their money around unhindered.
 
2014-04-14 07:57:21 AM

Sybarite: They prefer to think of their money as a citizen of the world.


They are lobbying hard for a another tax free window to import capital from outside the US, if you watch CNBC, especially Kudlow this will come up at least once a month as a solution to all our finical problems.
 
2014-04-14 08:00:45 AM
Why do they HATE AMERICA?!
 
2014-04-14 08:03:00 AM

Yakk: Sybarite: They prefer to think of their money as a citizen of the world.

They are lobbying hard for a another tax free window to import capital from outside the US, if you watch CNBC, especially Kudlow this will come up at least once a month as a solution to all our finical problems.


As someone who is about to set up a new business as a C-corp in the Cayman Islands, I'm OK with this.

/if you can't beat 'em, join 'em.
 
2014-04-14 08:05:58 AM
So, let me get this straight. Some super liberal Berkley Prof says that the really, really rich right wingers are hiding their money and the poor government can't find it and tax them, but he knows where it is!

Got it.
 
2014-04-14 08:12:26 AM
What??? The one percent of the one percent using all sorts of clever and dodgy maneuvers to get filthy rich?  Color me underwhelmed...
 
2014-04-14 08:15:44 AM
Funny that the Daily Mail doesn't mention that the Daily Mail itself is owned by a British Lord through shell companies in Caribbean tax havens. And that Lord, Viscount Harmsworth, lives in the UK but is legally a resident of France for tax reasons.
 
2014-04-14 08:18:11 AM
 B..b..b.but Jerb creators!!!!
 
2014-04-14 08:21:23 AM
they're using all that money to buy favorable policies... that's trickling down, isn't it?

A forthcoming article in Perspectives on Politics by Martin Gilens and Benjamin Page marks a notable step in that process. Drawing on the same extensive evidence employed by Gilens in his landmark book "Affluence and Influence," Gilens and Page analyze 1,779 policy outcomes over a period of more than 20 years. They conclude that "economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while mass-based interest groups and average citizens have little or no independent influence."

Rich People Rule!
 
2014-04-14 08:22:21 AM
At the risk of sounding like a broken record, I'll say again that extreme wealth inequality is a serious, serious problem.  And I say that as a reformed libertarian.  My mind has been changed on this issue.  I recommend two sources for a good description.  The first is youtube video demonstrating just how extreme the imbalance is.  The second is a TED talks discussing why extreme wealth inequality is bad for everybody.

http://www.youtube.com/watch?v=QPKKQnijnsM

http://www.ted.com/talks/richard_wilkinson
 
2014-04-14 08:25:32 AM
"Having hoarded his billions, the elusive Job Creator emerges from the wilderness seeking more billions to hoard. The noble Job Creator would love to invest those billions and create untold jobs, but the nervous creature fears his only known predators, the Regulationer and the Fartbongo. Suddenly, a noise! The Job Creator reacts like lightning and burrows back into his Cayman Islands beach house, quivering in terror. No jobs will be created today."
 
2014-04-14 08:28:02 AM

Gunboat: At the risk of sounding like a broken record, I'll say again that extreme wealth inequality is a serious, serious problem.  And I say that as a reformed libertarian.  My mind has been changed on this issue.  I recommend two sources for a good description.  The first is youtube video demonstrating just how extreme the imbalance is.  The second is a TED talks discussing why extreme wealth inequality is bad for everybody.

http://www.youtube.com/watch?v=QPKKQnijnsM

http://www.ted.com/talks/richard_wilkinson


There's a big demographic upheaval going on right now that's going to correct things and make our society ultimately a lot more egalitarian than it's ever been.  Hint:  look at the *current* birth rates in places like Bangladesh or Mexico, and especially at the birth rates in Germany or South Korea.  Truth is, it takes a lot of peasants to support one plutocrat, and peasants--peasants desperate enough to work in a coal mine for a dollar a day to feed their eight kids--are becoming a scarce commodity...
 
2014-04-14 08:35:53 AM

Mr. Coffee Nerves: "Having hoarded his billions, the elusive Job Creator emerges from the wilderness seeking more billions to hoard. The noble Job Creator would love to invest those billions and create untold jobs, but the nervous creature fears his only known predators, the Regulationer and the Fartbongo. Suddenly, a noise! The Job Creator reacts like lightning and burrows back into his Cayman Islands beach house, quivering in terror. No jobs will be created today."



img.fark.net
 
2014-04-14 08:37:13 AM
It will be amusing when the shiat hits the fan and the Cayman banks come back with "What money?".
 
2014-04-14 08:52:35 AM
If only there was some mechanism to transfer this overabundance to an entity that would do good things with it for all.
 
2014-04-14 08:53:03 AM
I went on a couple of dives in the Caymans a few years ago during a cruise, and I didn't see any large banks, just a Hard Rock Cafe or two.  Where do the Caymans keep their keep their billions of dollars worth of digital bullion anyways?  Do they keep their valuable stash of 1s and 0s in a Swiss computer?  If it's all just on 'paper', why can't I just start my own legal monarchy and be a tax haven for the thriving tongue-depressor industry?
 
2014-04-14 08:59:30 AM
It's not money, it's speech.  They are saving it all for when a particularly amusing anecdote is needed.
 
2014-04-14 09:00:03 AM

Kinetic King: If it's all just on 'paper', why can't I just start my own legal monarchy and be a tax haven for the thriving tongue-depressor industry?


The Cook Islands already beat you to it.
 
2014-04-14 09:01:33 AM
Would be interesting to see the govt come down hard on this the way they did for crack cocaine with mandatory sentences.
 
2014-04-14 09:02:37 AM

ghare: Day_Old_Dutchie: fusillade762: 

The spoiled rotten baby boomers whiny little lazy gen-x/y/millenials are slowly killing the goose that laid their golden eggs by not bothering to farking vote in midterms


heh, really?  Voting has come down to voting for Biff or Lance from competing country clubs.
 
2014-04-14 09:03:33 AM

wingnut396: Kinetic King: If it's all just on 'paper', why can't I just start my own legal monarchy and be a tax haven for the thriving tongue-depressor industry?

The Cook Islands already beat you to it.


Drat!  I was hoping to corner the market on the tongue-depressor tax-haven industry before it broke up into splinter groups...
 
2014-04-14 09:06:46 AM

Kinetic King: Gunboat: At the risk of sounding like a broken record, I'll say again that extreme wealth inequality is a serious, serious problem.  And I say that as a reformed libertarian.  My mind has been changed on this issue.  I recommend two sources for a good description.  The first is youtube video demonstrating just how extreme the imbalance is.  The second is a TED talks discussing why extreme wealth inequality is bad for everybody.

http://www.youtube.com/watch?v=QPKKQnijnsM

http://www.ted.com/talks/richard_wilkinson

There's a big demographic upheaval going on right now that's going to correct things and make our society ultimately a lot more egalitarian than it's ever been.  Hint:  look at the *current* birth rates in places like Bangladesh or Mexico, and especially at the birth rates in Germany or South Korea.  Truth is, it takes a lot of peasants to support one plutocrat, and peasants--peasants desperate enough to work in a coal mine for a dollar a day to feed their eight kids--are becoming a scarce commodity...



"A lot of peasants" is a stopgap measure for plutocrats who can't yet support themselves with robots.
 
2014-04-14 09:24:09 AM
img.fark.net
 
2014-04-14 09:25:08 AM
You know, we might start to get some where in terms of sensible fiscal policy, if we can peel the 99-99.9th percentile away from the .1 percent. Who own about 10 times more wealth that those other merely rich people.
 
2014-04-14 09:52:25 AM
The $1.4 trillion House of Saud chuckles at such things.
 
2014-04-14 10:12:09 AM
That's the smart thing to do while you're waiting out the Obama economy.

/half-kidding
 
2014-04-14 10:17:08 AM

Whatchoo Talkinbout: If only there was some mechanism to transfer this overabundance to an entity that would do good things with it for all.


First, show me an "entity that would do good things with it for all."

Hint: it doesn't exist. If you're referring to "government", please try again since they're the very reason that we have such inequality in the first place, what with all the cronyism, subsidies, transfers, and regulations that favor the politically-connected and powerful.
 
2014-04-14 10:28:35 AM
daaagdev.cage.curtin.edu.au
 
2014-04-14 10:45:34 AM
The answer is fairly straightforward

1. tax all currency leaving the country
2. replace all income, sales and payroll taxes with a national property tax - this moves the tax burden from labor to capital

And while I'm dreaming...

A constitutional amendment that no government entity may keep or fund itself though any non-tax monies they collect by any means.  All non-tax monies (fines, fees, settlements, tolls, auction proceeds etc) are to be distributed evenly to all citizens annually.
 
2014-04-14 11:20:23 AM
So we see the trend. The uber-rich call the money home, move it offshore and the result is a recession. Suck it, peasants!
 
2014-04-14 11:45:02 AM
Did anyone else find the last line of the article a little condescending?

"The majority of 99 percenters treat their returns as a bonus and put it in regular checking and savings accounts."

Well, yeah.  They actually need to buy sh*t.  Like, right then.
 
2014-04-14 11:50:06 AM
Strange that about 50% of the remaining "poor" supports these 1%-ers.
Can't explain that....(with any kind of rational thinking or self interest).
 
2014-04-14 12:15:02 PM

bubbadave1056: Why do they HATE AMERICA?!


What HATE?
They LOVE AMERICA, so tasty and fattening.
 
2014-04-14 12:15:33 PM
Amazing when one thing is reported by the Daily Fail, you people raise your hands like their Fox News. Then this comes along, and you believe it.
 
2014-04-14 12:25:06 PM

gretzkyscores: Whatchoo Talkinbout: If only there was some mechanism to transfer this overabundance to an entity that would do good things with it for all.

First, show me an "entity that would do good things with it for all."

Hint: it doesn't exist. If you're referring to "government", please try again since they're the very reason that we have such inequality in the first place, what with all the cronyism, subsidies, transfers, and regulations that favor the politically-connected and powerful.


And we have a Yatzee.
 
2014-04-14 12:43:56 PM

fusillade762: How long can the hyper-rich thrive just by selling things to each other?


How long could the aristocracy last just granting land to each other?
 
2014-04-14 12:46:19 PM
Well no shiat, that's where fartbongo keeps his money..
Ted Cruz 2016
/abolish the IRS
 
2014-04-14 03:08:34 PM

ubermensch: Can Rick Romano not be a meme anymore?


Obviously not.
 
Displayed 50 of 50 comments

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »





Report