tweakabelle
Posts: 7522
Joined: 10/16/2007
From: Sydney Australia
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quote:
ORIGINAL: BoscoX
quote:
ORIGINAL: tweakabelle
One can only imagine the enormity of social good that could be achieved by harnessing these funds for social good
When leftists talk about "harnessing" something, they don't mean the word in the traditional sense
They mean to kill that thing. Take the life from it. It this example Tweaker means removing individual wealth from economies, as her Dear Leader friends have done in Venezuela and North Korea etc
The Republicans want 12% according to others in this thread, in exchange for bringing the money home. That sounds very fair to me. The 12% that isn't confiscated can go to work here doing far more good than leftists will ever do by handing it out to fat-assed bureaucrats or drug addicts and prostitutes etc
No one ever got a job from a poor man
Such a moronic response to the points I made and reports I cited in post #16.
The most obvious delusion in Bosco's claims is "Tweaker means removing individual wealth from economies,". No I don't. The funds have already been removed from economies by the tax evaders. They lie in offshore tax havens far from any develped economy and most certainly contributing nothing at all to those economies. So, directly opposite to Bosco's claims, nothing is removed from economies
The GOP solution is laughable. If I understand it correctly it means that by paying a 12% tax, off shore funds can be repatriated and put to work in the economy. So instead of full repatriation, we end with an effective 88% repatriation which will then be subject to the trickle down fantasy. If past experience is anything to go by, any returns generated by that 88% wll simply be moved offshore again to avoid taxes. The best possible outcome would be for that process to be repeated indefinitely, effectively rewarding tax evasion by subjecting the funds to 12% tax rate instead of the far higher rates imposed by most developed countries. So an illusion at best, at worst it simply rewards and institutionalises tax evasion on a gigantic scale.
For effective change to happen, there must be collective action by the world's economies to eliminate offshore tax havens permanently, accompanied by internal action to eliminate the massive and lucrative tax evasion industries.
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RE: Paradise Papers...a primer. - 
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