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A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network.
The detailed analysis in the report, compiled using data from a range of sources, including the Bank of International Settlements and the International Monetary Fund, suggests that for many developing countries the cumulative value of the capital that has flowed out of their economies since the 1970s would be more than enough to pay off their debts to the rest of the world
Originally posted by tkwasny
Money static in an account is not income that is taxable anywhere in the civilized world. Just because someone is in possession of something does not mean someone else has a right to take it. That's the grade school bully taking a child's lunch money.
Envy is a deadly sin for a reason in this life and the next. Shear evil to even allow such jealousy to dwell inside one's head allowing it to fester and grow like the spiritual cancer it is, never mind proudly boast about how that evil has overtaken the self.
Originally posted by Metatronin
Isn't this the money that has to be kept out of the loop so to speak? When banks make loans and credit money out of thin air the loan becomes almost 100% profit. Putting this money out in circulation would cause massive inflation. It speaks to the fallacy that is money, no?
Originally posted by poet1b
20 to 30 $T in IOUs in an electronic ledger, stolen from future generations, that can be wiped oh with a keystroke.
And that is exactly what should be done.