A Q about morality

[North Kai]

The world's super-rich had between $21 trillion and $32 trillion of wealth hidden in tax havens by the end of 2010, a new study says.
The size of these unreported financial assets is equivalent to, or even larger than, the combined GDPs of the United States and Japan, representing up to $280 billion in lost tax revenues.
The study, titled "The Price of Offshore Revisited," was released Sunday by the advocacy group Tax Justice Network.
Written by James Henry, former chief economist at McKinsey & Co., the study drew data from the World Bank, the International Monetary Fund, the United Nations and central banks.
The number of the global elite who parked their fortune overseas is fewer than 10 million people, or 0.14% of the global population, the report says. It also shows that major private banks such as UBS, Credit Suisse, Goldman Sachs, Bank of America and HSBC handled the most assets on behalf of the super-rich.
According to the group's 2011 Financial Security Index, which ranks nations and territories providing tax havens, Switzerland, the Cayman Islands, Luxembourg, Hong Kong and Singapore are among the biggest destinations.
In a statement, Henry, senior adviser of the Tax Justice Network, said that "it turns out that this offshore sector --- which specializes in tax dodging -- is basically designed and operated, not by shady no-name banks ... but by the world's largest private banks, law firms and accounting firms, headquartered in First World capitals like London, New York and Geneva."
The report also calculates capital flight from 139 developing countries between 1970s and 2010. Of the top 20 developing countries that lost tax revenue overseas, China ranks first, with nearly $1.2 trillion siphoned offshore by 2010. Russia and South Korea follow, with $798 billion and $779 billion missing respectively.
"Since most of missing financial wealth belongs to a tiny elite, the impact is staggering," Henry said. "For most countries, global financial inequality is not only much greater than we suspected, but it has been growing much faster."
The Tax Justice Network says its estimated offshore fortune is conservative, adding it excludes non-financial assets such as real estate, yachts and artworks.
______________________
trickle down indeed

[REX Lex]

***** this website is for naruto fans not for your sthit things

that'a why this theme is in the general discussion

[North Kai]

***** this website is for naruto fans not for your sthit things

Dont open the thread if you are not interested you idiot

and its GENERAL DISCUSSION, READ BEFORE YOU POST IDIOTIC THINGS

[Trippy Sage of all Dank]

***** this website is for naruto fans not for your sthit things

If you can't take the heat, gtfo the kitchen.

[Kichiro Fujimoto]

So much money. Greedy people this days. Why is Trillion a number for money. -SMH-

[ShishaMastah420]

Honestly... If i had the money, you think i would i invest it in America or even Store it in America? You really think i would let me money be taxed?

It is only natural for people to want to safe-guard their riches...

[North Kai]

just another reminder how the form of capitalism we have doesnt work

if you look at the numbers: to bail out (whole) countries even as big as Spain (population around 45m ... I think ) you talk billions
but here we have the number of ppl you could stuff into a city and we talk 21+ TRILLIONS

[Shinobi Train]

...and what's wrong with that? Honestly, we want the rich to have as much money as they can. They might not be paying taxes, but every time someone makes money by working for them, that person pays the tax. Problem solved.

[North Kai]

...and what's wrong with that? Honestly, we want the rich to have as much money as they can. They might not be paying taxes, but every time someone makes money by working for them, that person pays the tax. Problem solved.

are you stupid? yes lets have democracy but lets let 0.1% of ppl control pretty much everything, let them have more money that is realistically possible to spend and the rest will be happy with 15k a year, yes lets put all the taxation onto those who struggle to survive with the money they have even if taxation on the mega wealthy would bring just as much money, ...

countries dont have that much money yet a small number of ppl DOES, if countries would have the same amount of money instead of individuals it would be better

my family isnt exactly poor, my dad being a lawyer and my mom a neurologist in germany, but such differences arent normal and have never existed before

[Shinobi Train]

are you stupid? yes lets have democracy but lets let 0.1% of ppl control pretty much everything, let them have more money that is realistically possible to spend and the rest will be happy with 15k a year, yes lets put all the taxation onto those who struggle to survive with the money they have even if taxation on the mega wealthy would bring just as much money, ...

countries dont have that much money yet a small number of ppl DOES, if countries would have the same amount of money instead of individuals it would be better

my family isnt exactly poor, my dad being a lawyer and my mom a neurologist in germany, but such differences arent normal and have never existed before

First of all, I never insulted you, so why do so to me simply because you disagree? Second, yes, there's alway been the rich and the poor...middle class is what's new, that's a more modern idea. Third, there's a reason people are shoved to the bottom so that the ones on the top can breathe easy. By putting everyone else down, they actually save us from ourselves. If everyone had money, the whole thing would collapse because there wouldn't be any slaves...*ahem* "paid employees"...to do the work.

[North Kai]

First of all, I never insulted you, so why do so to me simply because you disagree? Second, yes, there's alway been the rich and the poor...middle class is what's new, that's a more modern idea. Third, there's a reason people are shoved to the bottom so that the ones on the top can breathe easy. By putting everyone else down, they actually save us from ourselves. If everyone had money, the whole thing would collapse because there wouldn't be any slaves...*ahem* "paid employees"...to do the work.

ok dont know if your trolling or just weird

but cheers

[Gooner4life]

I think that is immoral, they have an obligation to help people with others out that have less. I can understand it though, the world doesn't work on fairness and I see why they would want to keep their money

[Shinobi Train]

ok dont know if your trolling or just weird

but cheers

I never troll...it's a waste of my time. Is there something I said that wasn't true? Or is this just your way of backing out of a debate? :ice:

[North Kai]

I never troll...it's a waste of my time. Is there something I said that wasn't true? Or is this just your way of backing out of a debate? :ice:

well, its not a matter truth. its a matter of moral right or wrong

[ShishaMastah420]

well, its not a matter truth. its a matter of moral right or wrong

Whats moral about hating on the people with wealth?

Its not like these people went out there and robbed the poor...

If they've earn it; It is theirs to keep...

Say for instance you get rich, and you want to save some of it and invest it so that your riches can increase; Should i write a article about how much of a horrible person you are, because your rich?How does that seem morally correct?

The poor and the middle class evade taxes too...

[North Kai]

ok a poll for one of my threads on which i have been kinda flamed.

Is it moral that 1% of the worlds super rich control most of the most wealth, that they control politics, law, media, ...?

is it right?

[Uchiha Riyo]

If they're good people, or if the people approve of them.

[ShishaMastah420]

Lmaoo...How is it wrong to let people who have earned their wealth keep their wealth?

If more people were educated, the "1%"(Which is actually specific to America, IDK why your putting it on a worldly scale, but ok...)would be bigger...

Also stop underestimating the power of the other "99%" Those "1%" of people NEED THEM...

The "99%" need to stop scavenging for Wealth and Educate themselves...

[gordo1]

Most money was earned at some point or another. That's like asking is it moral that colleges like Harvard only accept certain students based on qualifications and not at random.

[North Kai]

Lmaoo...How is it wrong to let people who have earned their wealth keep their wealth?

If more people were educated, the "1%"(Which is actually specific to America, IDK why your putting it on a worldly scale, but ok...)would be bigger...

yes because all the mega rich are geniuses, Trump should be professor of mathematics at Caltech

[Futur3Cha0s]

perhaps it is not right. however, is it right to take away their wealth and power that they worked hard to get? i think this is also not right. it is a fine line between right and wrong. at most, all people can do is hope that that 1% use their wealth and power for the good of mankind

[North Kai]

democracy does not work if you have 1% vs 99% no matter which country you are in

[ShishaMastah420]

yes because all the mega rich are geniuses, Trump should be professor of mathematics at Caltech

DaFuQ? Why are you saying nonsense?

I did not say the "1%" are super genius nor did i say they are Educated...

democracy does not work if you have 1% vs 99% no matter which country you are in

Well them maybe the form of government needs to be re-evaluated...Don't try to rob people of their riches

[North Kai]

DaFuQ? Why are you saying nonsense?

I did not say the "1%" are super genius nor did i say they are Educated...

you said if more ppl were educated they a larger % of ppl would be wealthy

so why are many who are not rich smarter than many who are rich?

[ShishaMastah420]

you said if more ppl were educated they a larger % of ppl would be wealthy

so why are many who are not rich smarter than many who are rich?

Who says many who are not rich are smarter than the rich?

Maybe they know something the poor do not know or maybe they have something the poor do not have...Duuurrrr

Part of having wealth is being privileged to certain opportunities that many do not have...

Yes the "99%" needs to educate themselves... Only then will they learn...