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Forum Post: Ready for a storm?

Posted 10 years ago on Jan. 26, 2012, 3:26 p.m. EST by DKAtoday (33802) from Coon Rapids, MN
This content is user submitted and not an official statement

What is your thought?

What would happen if a fee were applied to money ( American ) transferred in from an out of Country Financial institution account. You know like from the Cayman islands or from Switzerland?

You know collect taxes deferred by out-sourcing ( hiding ) savings/income?



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[-] 1 points by louisrocc (74) 10 years ago

The 1% disproportionately receives the benefits from the tax system without proportionately paying into it due to such tax havens. I support this. It is one step that would help, but the real problem needs to be addressed. We have disproportionate representation in our nation because we have disproportionate wealth and privately sponsored campaigns. I have proposed the Zero Contributions Campaign Finance Amendment posted at www.campaignfinanceamendment.org as a real solution.

[+] -4 points by DKAtoday (33802) from Coon Rapids, MN 10 years ago

Yes I've seen this. I'm still waiting for you to author a petition on Care2 or another petition site and attach a link to that petition on a post ( a post dedicated to getting money out of politics ) here, so that all who are interested "here" can participate ( sign ) and perhaps forward it or otherwise advertise it ( Facebook, Twitter, other social media ). You had told me that you did publish a petition if I remember correctly but I have not seen it yet. Attach it here and then also create a separate post.

[+] -4 points by DKAtoday (33802) from Coon Rapids, MN 10 years ago

Added my comments to the petition - Signed it.

Forwarded it on Facebook and Twitter.

[-] 0 points by FreeDiscussion1 (109) 10 years ago

Why are all of you so interested in taxes? What do you get out of the deal?


[-] -1 points by kingscrossection (1203) 10 years ago

I would be pissed. Why would you do that? Its already taxed before it goes out. Besides, I thought that holding a Swiss Bank account was illegal.

[-] 1 points by GypsyKing (8708) 10 years ago

If it was illegal, then why would you be pissed unless you broke the law?

[-] 0 points by kingscrossection (1203) 10 years ago

No I would be pissed if you are taxing money that has already been taxed that is in my possession.

[+] -4 points by DKAtoday (33802) from Coon Rapids, MN 10 years ago

Has it? Been taxed? That is the reason these off shore accounts exist is to detour around taxation. These off shore accounts don't exist because they are more convenient or pay a higher interest rate or offer more frequent flier miles or because they offer services that American Financial institutions ( offices everywhere ) don't or even the legitimate International Institutions that have offices everywhere. No these offshore accounts only exist to hide money/assets.

[-] 2 points by GypsyKing (8708) 10 years ago

What other reason would there be for these accounts, except to avoid taxation?

[-] 1 points by Polemarchus (38) 10 years ago

To cover one's ass in case of an American economic breakdown. It's good to have your eggs in various baskets.

[-] 1 points by GypsyKing (8708) 10 years ago

If America's currancy breaks down, I'm not sure how anyone will cover their ass.

[-] 0 points by Polemarchus (38) 10 years ago

If you are rich and have money in another country and that country remains economically viable, you could simply move there. Indonesia's former president Soeharto placed a lot of the money he corrupted in Swiss banks for this very reason. He knew that the Indonesian economy was sketchy at best. It served him well during the '97 asian crash.

[-] 1 points by GypsyKing (8708) 10 years ago

Yes, but if the dollar breaks down the effect will be pretty sweeping. I think it would be hard to predict what other currancys would be a safe place to put your money. Just a thought. I never had that problem.

[-] 1 points by LetsGetReal (1420) from Grants, NM 10 years ago

I think the Swiss Franc is pretty safe.

[-] -3 points by DKAtoday (33802) from Coon Rapids, MN 10 years ago


[+] -4 points by DKAtoday (33802) from Coon Rapids, MN 10 years ago

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The petition to save abandoned houses has 16 signatures. We picked one up at around 11:07am 01/16/2012. Were just rolling right along.


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Sierra Club has some good things to take part in as well. Set-up and ready for you to take part in. http://sierraclub.org/