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BREAKING: The 1% Caught Hiding Trillions In Tax Havens, 100,000 Names Leaked...

Posted by on Apr. 5, 2013 at 10:56 PM
  • 10 Replies

 

BREAKING: The 1% Caught Hiding Trillions In Tax Havens, 100,000 Names Leaked (VIDEO)

2013/04/05
By
 
Map of countries investigating tax havens, courtesy of CBC News.

Map of countries investigating tax havens, courtesy of CBC News.

The financial information for more than 100,000 wealthy people around the world was leaked via an anonymously submitted hard drive, and CBC News in Canada is breaking the information exclusively (and refusing to release all of the associated names). The data contains information ranging from tax evasion to Russian scam artists that caused a diplomatic problem between the U.S. and Russia when they stole $230 million from Russia’s treasury. Estimates of the total amount of money hidden range from $8 trillion to $32 trillion, with billions every year escaping government taxation worldwide.

Here’s the video:

 

It’ll be interesting to see what comes out as journalists continue sifting through the documents and publishing information. CBC News reports with their exclusive:

In what is believed to be one of the largest ever leaks of financial data, the Washington, D.C.-based International Consortium of Investigative Journalists has received nearly 30 years of data entries, emails and other confidential details from 10 offshore havens around the world.

CBC News has partnered with the ICIJ over the last seven months to gain exclusive Canadian access to the information. Thirty-seven media outlets in 35 other countries are also involved.

They go on to report comments by an associated researcher:

“What we found as we started digging in the records is a pretty extensive collection of dodgy characters: Wall Street fraudsters, Ponzi schemers, figures connected to organized crime, to arms dealing, money launderers,” said Michael Hudson, a senior editor at the ICIJ, who worked with a team for months to sort through the information.

“We just found a lot of folks involved in questionable or outright illegal activities.”

CBC News has also released specific stories based on data obtained, such as one Canadian senator and her husband, a famous class action lawyer, hiding money offshore while being investigated by the Canadian Revenue Agency.

They’ve created an interactive map that shows the tax haven investigations now occurring around the world, which is available here. As the story continues to break and events continue unfolding, it is clear that these investigations will be lengthy and have an extreme impact on the way the worldwide financial community operates.

It’s impossible to tell yet what sort of impact this could have on American politics, but hopefully it will help financial transparency. If you aren’t aware, the truth is that a mere 132 Americans donated 60% of SuperPac money during the last election period, and as noted by Larry Lessig during his TED presentation (and elsewhere), candidates must win the “funding” election before they can even participate in the general election that you and I can vote in. Because of this, all candidates from all parties spend 30-70% of their time trying to get more money to stay in office. If they displease those 132 people, by, for example, hurting their industries or pocketbook (pocket Encyclopedia Britannica? Bit more than a book at that point), they’ll lose office and, later, lobbying opportunities that pay a thousand percent what they make in Congress.

More updates to come.

http://www.addictinginfo.org/2013/04/05/breaking-the-1-caught-hiding-trillions-in-tax-havens-100000-names-leaked-video/

by on Apr. 5, 2013 at 10:56 PM
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Replies (1-10):
lilblu399
by Bronze Member on Apr. 5, 2013 at 11:01 PM
I wish I can say that I am surprised but I am not.
Posted on CafeMom Mobile
LucyMom08
by Gold Member on Apr. 5, 2013 at 11:01 PM

 I am very interested to see what comes of this...

Quoting lilblu399:

I wish I can say that I am surprised but I am not.

 

Tag3.0
by on Apr. 5, 2013 at 11:03 PM

 


Quoting LucyMom08:

 I am very interested to see what comes of this...

Quoting lilblu399:

I wish I can say that I am surprised but I am not.

 

Nothing will come of it. The people will be outraged and the be distracted by a declaration of war.

 

lga1965
by Ruby Member on Apr. 5, 2013 at 11:05 PM

 Cool !  I think we need to beat up the 1%.  big smile mini

The 1% are in that 1% because they are tricky and know how to make money out of nothing and hide things from the rest of us who make our money in honest ways. There are so many of them....I used to work for a national company whose CEO is now in jail and he and most of the big boys who worked at the headquarters have hidden their money in the Grand Cayman Islands and other places known for their secret bank accounts.

I really dislike those people. They have no conscience.

Farmlady09
by Silver Member on Apr. 5, 2013 at 11:11 PM

If they are smart they are converting the bulk of that cash to non-US dollar denominations ~ and yes, I realize some are criminal in nature (not any different than our government though). All of the boohooing in the world isn't going to change the fact that given O's spending and printing of more money instead of actually paying off some debt, the sheer anti-business tone of our regulations and laws driving jobs overseas, and the inescapable fact that the US owes more in debt that all of the EU combined means the American dollar is going byebye very soon.

Not sure how I feel about that because I love America ~ but this country has been decimated by libs and their grotesque spending policies and it isn't America any longer. Perhaps a massive economy downturn and no more American dollar is the only thing that will get through to people. Perhaps it will be the only thing that will eliminate the socialist morons that people keep electing into office to destroy us by debt.

It's a given that when the US dollar loses world currency status that welfare (and the millions that depend on it most likely) will cease to exist. Same goes for the regulatory agencies. Maybe some good will come of it after all.

Regardless, the failing US dollar is going to have global implications, and no amount of hidden money is going to matter. The US government hasn't got a pot to piddle in at this point, and those who suckle at that teat should buckle up for a very bumpy ride ... because Uncle Sammy is about to get his own pocket pinched ~ in fact, given how much extra money O has printed in the past 5 years, even if all spending stopped what's coming can no longer be averted. The US 'looks' to be in better shape than Greece and a few other countries, but that's only because of the massive efforts of printing presses. The reality is that we're worse off, and the crash will be much more severe.

I hope that those who have some cash can hang onto it (edit to add) and get it converted into non US currency. The sheer stupidity of those in charge of finances in the US, those who can't be bothered to support themselves, and those who just enjoy dressing up as a leech need to be replaced. Consumerism needs to be replaced with productivity as well. Those of you who are outraged about crooks etc. having/keeping all that lovely money I suspect aren't outraged all that much because they are crooks ... but because that lovely money isn't being dumped into social programs. What you should be outraged at (but most won't) is a government that has squandered every penny it's collected by it's own illegal, crooked, and shady schemes.

 

Sisteract
by Whoopie on Apr. 5, 2013 at 11:15 PM

Government purchased, legally sanctioned WELFARE- that screws the balance.

Someone has to pay the bills-

LucyMom08
by Gold Member on Apr. 5, 2013 at 11:15 PM

 While I agree with your general overview, I don't agree that the blame rests solely on liberal shoulders...this issue has been caused by BOTH parties...the liberals spend, and the conservatives generally hand corporations anything they want, including breaks and free money, on a silver platter...deregulating our market and creating massive monopolies has also had a major impact on our economy...

Quoting Farmlady09:

If they are smart they are converting the bulk of that cash to non-US dollar denominations ~ and yes, I realize some are criminal in nature (not any different than our government though). All of the boohooing in the world isn't going to change the fact that given O's spending and printing of more money instead of actually paying off some debt, the sheer anti-business tone of our regulations and laws driving jobs overseas, and the inescapable fact that the US owes more in debt that all of the EU combined means the American dollar is going byebye very soon.

Not sure how I feel about that because I love America ~ but this country has been decimated by libs and their grotesque spending policies and it isn't America any longer. Perhaps a massive economy downturn and no more American dollar is the only thing that will get through to people. Perhaps it will be the only thing that will eliminate the socialist morons that people keep electing into office to destroy us by debt.

It's a given that when the US dollar loses world currency status that welfare (and the millions that depend on it most likely) will cease to exist. Same goes for the regulatory agencies. Maybe some good will come of it after all.

Regardless, the failing US dollar is going to have global implications, and no amount of hidden money is going to matter. The US government hasn't got a pot to piddle in at this point, and those who suckle at that teat should buckle up for a very bumpy ride ... because Uncle Sammy is about to get his own pocket pinched ~ in fact, given how much extra money O has printed in the past 5 years, even if all spending stopped what's coming can no longer be averted. The US 'looks' to be in better shape than Greece and a few other countries, but that's only because of the massive efforts of printing presses. The reality is that we're worse off, and the crash will be much more severe.

I hope that those who have some cash can hang onto it. The sheer stupidity of those in charge of finances in the US, those who can't be bothered to support themselves, and those who just enjoy dressing up as a leech need to be replaced. Consumerism needs to be replaced with productivity as well.

 

 

Farmlady09
by Silver Member on Apr. 5, 2013 at 11:21 PM

I did say libs and their liberal policies. I don't think it matters what letter dangles behind someone's name, liberal policies are liberal policies ~ which in the US translates to welfare and dependency. Neither of those support a thriving or growing economy.

It's the endless regulations and expenses they generate that drives business overseas, and also drives people to scheme to keep the money they earn. Prior to all of that red tape and the associated fees, American business boomed, there were more than enough jobs for everyone, and our debt was pennies compared to what it is now.

The one question I have about the whole mess is how far the US government will go to try and protect 'itself' ~ meaning how much of the population will become expendable so that the gov't. can remain viable. That is far more worrisome to me than even the dollar being worthless.


Quoting LucyMom08:

 While I agree with your general overview, I don't agree that the blame rests solely on liberal shoulders...this issue has been caused by BOTH parties...the liberals spend, and the conservatives generally hand corporations anything they want, including breaks and free money, on a silver platter...deregulating our market and creating massive monopolies has also had a major impact on our economy...

Quoting Farmlady09:

If they are smart they are converting the bulk of that cash to non-US dollar denominations ~ and yes, I realize some are criminal in nature (not any different than our government though). All of the boohooing in the world isn't going to change the fact that given O's spending and printing of more money instead of actually paying off some debt, the sheer anti-business tone of our regulations and laws driving jobs overseas, and the inescapable fact that the US owes more in debt that all of the EU combined means the American dollar is going byebye very soon.

Not sure how I feel about that because I love America ~ but this country has been decimated by libs and their grotesque spending policies and it isn't America any longer. Perhaps a massive economy downturn and no more American dollar is the only thing that will get through to people. Perhaps it will be the only thing that will eliminate the socialist morons that people keep electing into office to destroy us by debt.

It's a given that when the US dollar loses world currency status that welfare (and the millions that depend on it most likely) will cease to exist. Same goes for the regulatory agencies. Maybe some good will come of it after all.

Regardless, the failing US dollar is going to have global implications, and no amount of hidden money is going to matter. The US government hasn't got a pot to piddle in at this point, and those who suckle at that teat should buckle up for a very bumpy ride ... because Uncle Sammy is about to get his own pocket pinched ~ in fact, given how much extra money O has printed in the past 5 years, even if all spending stopped what's coming can no longer be averted. The US 'looks' to be in better shape than Greece and a few other countries, but that's only because of the massive efforts of printing presses. The reality is that we're worse off, and the crash will be much more severe.

I hope that those who have some cash can hang onto it. The sheer stupidity of those in charge of finances in the US, those who can't be bothered to support themselves, and those who just enjoy dressing up as a leech need to be replaced. Consumerism needs to be replaced with productivity as well.

 

 


 

turtle68
by Mahinaarangi on Apr. 5, 2013 at 11:22 PM
1 mom liked this


Quoting lga1965:

 Cool !  I think we need to beat up the 1%.  big smile mini

The 1% are in that 1% because they are tricky and know how to make money out of nothing and hide things from the rest of us who make our money in honest ways. There are so many of them....I used to work for a national company whose CEO is now in jail and he and most of the big boys who worked at the headquarters have hidden their money in the Grand Cayman Islands and other places known for their secret bank accounts.

I really dislike those people. They have no conscience.

laws and tax laws are only made to contain the honest.  The rich have a WHOLE set of tax laws pertaining to them.  Most of the middle class and 9-5 worker bees are the bread and butter of most western societies...the rich, they aint the jam...they are the people enjoying the sandwich with absolutely NO INPUT at all into the making of it.

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