"Tax the rich!" - The dumbest slogan ever.

[Beskar]

Should serve to minimize tax evasion (legal and otherwise) by the rich.

You might think so, but that will never happen. They would just continue it.

As for Ali Baba's treasure, if the top few went without receiving a wage for a year and gave it all to the government, then the USA would well be on its on way of clearing its national debt. As after all, they could afford not to receive anything for a year and it would save the American economy almost over-night, along with as if all the tax evaders were clean with their tax bills, etc.

[Vladimir]

Horetore is right (yes, I'm sober). The middle class is where the money is. Tax them.

Edit: Wait? Did he just advocate a flat tax?! My man.

[HoreTore]

Horetore is right (yes, I'm sober). The middle class is where the money is. Tax them.

Edit: Wait? Did he just advocate a flat tax?! My man.

Not really....

I'm also a very big fan of deductables and added tax.... Ie. you can get a tax refund if you insulate your house better, which lowers your power need... But I am all in favour of taxing the hell out of you should you want to have heat cables in your driveway so you won't have to shuffle snow during the winter(yes, people do that.)...

Then you should adopt the US tax code: US citizens are taxed on all of their earnings, even if they are made entirely overseas. Dodging US taxes by moving is impossible. The only way to do it is to renounce your US citizenship, and pretty much no one chooses to do that even with the very harsh ex-pat tax policy.

Then US billionares use some other method of dodging taxes. The end result remains the same, how they do it is irrelevant.

EDIT: And I very much doubt that people care about losing a Norwegian citizenship....

[TinCow]

Then US billionares use some other method of dodging taxes. The end result remains the same, how they do it is irrelevant.

Tell that to UBS and HSBC.

[HoreTore]

Tell that to UBS and HSBC.

I have no idea what you're talking about....

[TinCow]

I have no idea what you're talking about....

The US Department of Justice started going after major tax evaders by going after their banks. They started with UBS, who got slaughtered and took a huge loss over the scandal. It was so bad that the Swiss government had to give up trying to protect them:

UBS paid a $780 million fine last year and admitted criminal wrongdoing in connection with offshore services sold to wealthy Americans through its private bank that allowed them to evade billions of dollars in taxes. Last month, the Swiss Parliament approved a final deal to hand over to the I.R.S. the details of 4,450 accounts used by wealthy Americans suspected of evading taxes.

Now the DoJ is doing the same thing to HSBC. (Link) The problem for the banks it that the value of their business (and the business of the countries that harbor them) in the US is far higher than the value of the business they get from hiding US tax evaders. The US government realized this recently and started tightening the screws. The banks can still hide the information if they want, but the US government will still fine them and confiscate their assets inside the US. Essentially, it just got a lot harder for US tax evaders, because now they need to find banks that are small enough that they don't care about doing business in the US... and there's not exactly a whole lot of those.

[drone]

As for Ali Baba's treasure, if the top few went without recieving a wage for a year and gave it all to the government, then the USA would have cleared its national debt. As afterall, they could afford not to recieve anything for a year and it would save the American economy almost over-night.

You are seriously underestimating America's debt, and seriously overestimating how rich people get paid. Wages are a pittance.

[Vladimir]

You are seriously underestimating America's debt, and seriously overestimating how rich people get paid. Wages are a pittance.

I think he means wealth; and no, he doesn't know much about the U.S.

[PanzerJaeger]

Yes, Hore!

The tax system should be based on equity, not need. People above the poverty level should be taxed at the same rate.

[CountArach]

Am I the only one caught off-guard by HoreTore being the one to start this thread? I kept waiting for the punch-line, but it never arrived...