If near half of the world GDP is hidden in tax havens, what are we arguing about

[Martinus]

So, this thread was inspired by an article I read recently (unfortunately, only in print). According to estimates, up to $32 trillion of assets is stacked away in tax havens. This is nearly half of the global GDP (which is around $75 trillion).

We spend hours discussing the failures of the welfare state, whether to raise or decrease taxes etc. but at the end of the day, does it even matter if the uber-class simply does not play by the same rules as everyone else?

[Tamas]

Are you telling me that globalized tech and economy is loosening the grip of traditional powers, and force them toward greater cooperation and less strict rules?



Plus, that 32 trillion is SOMEWHERE. It is not under pillows. It is in the banks of less fortunate states, which should be a socialist's wet dream I guess.

[DGuller]

I've always been surprised at how tolerant Western governments have been of fake countries that only exist to hide vast wealth.  Then again, the governments are run by the people hiding that wealth, or people paid off in some way by the people hiding that wealth, so maybe I shouldn't be surprised.

[Tamas]

pretty much

[Razgovory]

Are you telling me that globalized tech and economy is loosening the grip of traditional powers, and force them toward greater cooperation and less strict rules?



Plus, that 32 trillion is SOMEWHERE. It is not under pillows. It is in the banks of less fortunate states, which should be a socialist's wet dream I guess.

What?

[Tamas]

It's okay, Raz.

[Razgovory]

I'm glad you recognize your post was non-nonsensical.

[Martinus]

Are you telling me that globalized tech and economy is loosening the grip of traditional powers, and force them toward greater cooperation and less strict rules?



Plus, that 32 trillion is SOMEWHERE. It is not under pillows. It is in the banks of less fortunate states, which should be a socialist's wet dream I guess.

This is drivel.

[Razgovory]

You would think that doing stuff like this would undermine capitalism.

[Martinus]

You would think that doing stuff like this would undermine capitalism.

I just don't see how what he seems to be preaching has any reasonable end-game. What is his goal? That people pay no taxes and there is no such thing as public spending? The idiocy of the conclusions that naturally follow from his drivel is mind boggling.

[Josquius]

Plus, that 32 trillion is SOMEWHERE. It is not under pillows. It is in the banks of less fortunate states, which should be a socialist's wet dream I guess.

Less fortunate states?
....
err....
Tax havens tend to be rather wealthy places to put it mildly...

[HVC]

Plus, that 32 trillion is SOMEWHERE. It is not under pillows. It is in the banks of less fortunate states, which should be a socialist's wet dream I guess.

Less fortunate states?
....
err....
Tax havens tend to be rather wealthy places to put it mildly...

for the bankers, not so much the citiazens. Not all shelters are make coocoo clocks and cheese.

[Martinus]

Still, it's a pretty idiotic argument, even for a beet-eating goat-herder.

[CountDeMoney]

You would think that doing stuff like this would undermine capitalism.

How does it undermine capitalism? Stuff like this is what capitalism's all about.

[Martinus]

You would think that doing stuff like this would undermine capitalism.

How does it undermine capitalism? Stuff like this is what capitalism's all about.

Are you saying that capitalism is theft?