Drudge Retort: The Other Side of the News
Monday, February 18, 2019

Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income tax revenues, according to research published on Sunday.

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Amazing how the revelations of the Panama Papers got squashed by the corporate owned media.

#1 | Posted by Nixon at 2019-02-18 12:53 PM | Reply

Nothing to see here.

The rich will be along shortly to make this article disappear.

#2 | Posted by ClownShack at 2019-02-18 01:00 PM | Reply | Newsworthy 1

Oh they have a helluv a lot more than that... it's hidden away in underground storage bunkers all over the planet.

Problem is after a nuclear war only cockroaches will be left... and paper bills will be much too large for them to carry.

#3 | Posted by Pegasus at 2019-02-18 07:48 PM | Reply

TheY eArNeD tHaT mOnEy aNd ShoUlDnT hAvE tO GiVe aNy BacK.
-the party of personal responsibility

#4 | Posted by Kreator at 2019-02-18 09:07 PM | Reply | Funny: 3 | Newsworthy 2

time for a revolution

#5 | Posted by RightisTrite at 2019-02-18 09:47 PM | Reply | Newsworthy 1

Lock them up! Lock them up!

#6 | Posted by aborted_monson at 2019-02-18 09:47 PM | Reply | Newsworthy 1

Jay Gould explained the wealthy and powerful's attitude toward the poor.......

"I can always hire half of the poor people to kill the other half"

#7 | Posted by 1947steamer at 2019-02-18 09:51 PM | Reply

Amazing how the revelations of the Panama Papers got squashed by the corporate owned media.

#1 | POSTED BY NIXON AT 2019-02-18 12:53 PM | FLAG:

It was reported and people were too lazy to read it and understand it.

#8 | Posted by BruceBanner at 2019-02-18 10:02 PM | Reply | Newsworthy 1

They deserve to have other people pay their taxes for them; everyone had the same opportunity as them to stash away trillions, they just pulled themselves up by their bootstraps better!

- Mattress (donor base) and Madbomber (voter base)

#9 | Posted by Corky at 2019-02-18 11:38 PM | Reply

Please 32Trillion? LOL whatever ......

#10 | Posted by AndreaMackris at 2019-02-19 12:10 AM | Reply

How do you make the claim of $280B in lost revenues, when they were never your revenues to begin with.

It's like me saying that I've lost $35.5 million because an NBA team was unwilling to hire me at the same salary as Lebron James.

#11 | Posted by madbomber at 2019-02-19 09:01 AM | Reply | Newsworthy 3

The American Booboise must learn to stop acting the role of mindless consumers. Shelter, food, and repairs are all you need. Your "investments" are individually too small to affect the market, anyway. Starve the beast!

#12 | Posted by john47 at 2019-02-19 09:55 AM | Reply

Vun for all....All for vun.
~stalin

#13 | Posted by phesterOBoyle at 2019-02-19 10:19 AM | Reply

And the tax laws are written by rich politicians. Go figure.

#14 | Posted by Sniper at 2019-02-19 10:48 AM | Reply

Lock them up! Lock them up!

#6 | Posted by aborted_monson

Who are you talking about? The rich or the politicians?

#15 | Posted by Sniper at 2019-02-19 10:49 AM | Reply

All this money could operate the government for eight years, at a trillion dollar a year deficit.

This is a spending problem.

#16 | Posted by Ben_Berkkake at 2019-02-19 11:50 AM | Reply | Funny: 1

lol... rwhiners in denial.

#17 | Posted by Corky at 2019-02-19 12:12 PM | Reply

Huh? Did nobody do any type of logical thinking for this article? Sure, there is money that countries are not getting taxes for but to call this whole thing a black hole is absurd. That money in those accounts that grow just like every other account do not grow because the money is sitting there doing nothing. That money is used for funding many other things that are taxable and do cause taxes to be paid. Sure, not all of it but many companies exist that employ people because of that money.

I get that won't resonate with many people but think of this. 139 countries...$280 billion. If you divide that, then you are talking about $2.2 billion for each country. But that's obviously not how it spreads out as I assume the wealthier countries account for more. So let's say US is 70% of that $280 billion. That's $196 billion. But they don't mention what tax rates and brackets they use for figuring that $196 billion comes from in regards to total sum of $32 trillion. In other words, if that money were actually taxed and we received $196 billion, half of that would go towards just the taxing program as all taxes do. So we are talking about $98 billion that would actually go to our coffers. Now, the funnies part, the article doesn't state the time period of those taxes. Is it per year? Does it apply to the whole time frame of the study, 1970-2010?

This article basically tells us that a country of trillions should bring out the pitchforks over a fraction of our annual economy. And then the Dems and all the others like them who like to discriminate jump on board because, hey, we have to hate people for having stuff we don't have.

#18 | Posted by humtake at 2019-02-19 12:22 PM | Reply | Newsworthy 2

FTA...

"The research estimates that since the 1970s, the richest citizens of these 139 countries had amassed $7.3 to $9.3 trillion of "unrecorded offshore wealth" by 2010."

#19 | Posted by eberly at 2019-02-19 12:27 PM | Reply

Ha!

I also have 32 dollars hidden somewhere where you will never find it and tax it!

Oh, it says "trillion"...

Whatever... didn't win the sperm lotto...

#20 | Posted by donnerboy at 2019-02-19 01:58 PM | Reply

All this money could operate the government for eight years, at a trillion dollar a year deficit.

This is a spending problem.

#16 | Posted by Ben_Berkkake

Our government has had a spending problem ever since the early 60s.

#21 | Posted by Sniper at 2019-02-19 04:32 PM | Reply

Huh? Did nobody do any type of logical thinking for this article? Sure, there is money that countries are not getting taxes for but to call this whole thing a black hole is absurd. That money in those accounts that grow just like every other account do not grow because the money is sitting there doing nothing. That money is used for funding many other things that are taxable and do cause taxes to be paid. Sure, not all of it but many companies exist that employ people because of that money.

#18 | POSTED BY HUMTAKE

I see your point.

I would like my money someplace it can do good...without taxes...and grow. That's fair, right?

I wonder if there is any way you could miss the point of the article any more than you did...?

#22 | Posted by Sycophant at 2019-02-19 05:27 PM | Reply

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