Dan Mitchell's Tax Haven Speech on Capitol Hill -- Part 1

[darwincity]

YES!!! Finally someone with sound judgment! The world should build a statue of him! A Monaco resident and Boston student...

[CrowdPleeza]

Isn't the OECD ment to stop tax evaders?

[Fyghosn]

Why is this video only playing audio through my left speaker?

[sugarpuddin88]

It has nothing to do with large Government protected Corporations!

All this anti-offshore pressure is a smoke screen for welfare state tax collectors aiming for complete destruction of financial and personal privacy for everyone, just as the so-called PATRIOT Act has done in the U.S.

And to keep U.S. and other nations' taxpayers imprisoned in domestic high tax systems from which there is no escape

The problem started with the Illegal FED Reserve & Wall Street elites; not the working man!

[trumpit94]

You think that by sucking up to the very rich, some crumb from them will magically drop into your filthy hands. No such luck! You will be struck by lightening before they give you one cent. Get a job, loser and pay your stinking taxes so the rich don't have to.

[Notyourtypicalracist]

How great would it be if tax havens would be legal,

ctc is a lobbyist group to make tax evasion and money laundering legal

Legal Tax Evasion so the people making million dollars a year plus dont have a pay a penny in taxes and the goverment will then raise taxes on the middle and lower class

[gsh341]

@Notyourtypicalracist

Your ideas are flawed. You espouse higher taxes for the wealthy to make it fair for the poor, but you fail to understand that the current progressive tax system can only survive by allowing the rich to have tax loopholes that the poor cannot take advantage of. If there were no tax loopholes, the rich would either move to avoid the tax or stop earning to avoid paying too much in taxes.

Only a flat tax is truly fair to all.

[BasicEconomics]

The OECD promotes global economic treason!

Tax havens are uplifting the quality of life of all people in all ares because of the effect on tax competition.

Dan Mitchell = Super Hero Economist!

[trumpit94]

People who hide their money and their income in offshore banks are breaking the law. It's called TAX EVASION. IF the rich don't pay their fair share, and the poor and middle class do, guess who is footing the bill for government services and the war on terror? The rich are destroying the planet and if you support them then you are an accomplice to the their crimes. I had to get a little ramble in just to annoy you.

[IPA300]

OH THANK THE LORD! You finally addressed one of my questions (barely)! To answer your question: the Chinese are. Oh wait, what about my other question? Could you please answer it or do you need pictures to help?

[antimarxism]

48% of American's don't pay income taxes. The "poor" contribute very little to the economy, except for the few that actually work.

Please define "fair share". Please define "progressive". Both in exact terms. You advocate both and use them interchangably.

[trumpit94]

All the forced deductions by an employee are flat taxes that are unjust. Theh 10% California sale tax is a flat tax but in practical terms is regressive because a poor person spends a higher percentage of their income on taxable necessities. A fair share is for the very rich to pay for police, and fire for the entire society because they made their billions off of the society. As I said, stop taxing the poor and make the rich cough up. So they'll be a little less rich.We don't need billionaires.

[trumpit94]

Futhermore, the price of everything includes a hidden tax, which in essense isa tribute to the capitalist investors, instead of to a king, who lent funds out and demands are return for the loan. This investment drives a capitalist economy, but clearly this can and does get out hand because of the concentration of wealth in a small percentage of population that is super rich. A billionaire makes millions of dollars every year without lifting a finger. Where does that money come from? From YOU.

[antimarxism]

Still waiting.....

[trumpit94]

The rich should pay 100% and the poor should pay 0%. Why? Because the rich can afford it. As Bill Gates or Warren Buffet or the Walton family that own Wal-mart stock and have way over $100,000,000 in stock and other property to pay for the war in Iraq. The soldiers over their are protecting their massive wealth from confiscation in a general sense from terrorists winning the war on terror. An American peasant, like you, has little to lose in the event Al Queda wins, Buffet has billions to lose.

[trumpit94]

You don't understand what big money is nor who possesses it. Start with the Forbes top 100 richest people and go from their. All check the Fortune 500 top companies and see what the CEOs are taking home in pay. Why don't you peasants get it. You love the rich and hate the poor. That is sick.

[trumpit94]

You also don't understand what monoplistic capitalism is. EVery time a dirt poor Mexican makes a phone call, Carlos Slim, the richest man in Mexico who owns all the phone companies takes a piece of the action. Like he needs to steal from the poor...Why don't you get it? I guess because you'd like to be a billionaire some day, too. No such luck. you will die way before that ever happens...

[titosantucci]

Who cares if some people make tons of money and drive nice cars? You are an envious person. As long as they aren't stealing from me or committing fraud to get there, ie the Mafia, I don't care. But people like you are full of envy and violence.

Progressive taxation with unchecked government growth only leads to taxation of the poor. In 1913, only the rich were taxed and at around 2%. But government is too greedy and feed on the envious' envy. You want by force what others have by consent.

[trumpit94]

I'm envious & violent? You'er full of shit! But I do know one thing: you are an ignoramous pimp and panderer for the billionaires, which makes you scum of the earth. Millions of children starve to death each year and you suck up to the very rich. You are the one who should be thrown on to the dust heap of history, but alas you will just keep sucking up. Perhaps a car will strike you head on to get rid of suck ups like you. If my comment is violent, you just have to suck it up. Sorry sucker.

[trumpit94]

I hope a Lexus or Mercedes Benz strikes you dead. If there is a god...

[antimarxism]

Again, exactly define "fair share" and "progressive" in numbers.

[trumpit94]

Fair share = 100% of government paid for by the rich.

Progressive = 100% of government services paid for by the rich.

We can debate whether people should fund their own retirement or whether the rich should pay for it. I think the rich should pay for it. Why? For the same reason a bank robber steals from a bank. That is where the money is. Please think a little before you ask dumb questions.

[antimarxism]

Again, exactly define "fair share" and "progressive" in numbers.

What % of income should the "rich" pay?

What level of income is "rich"?

And BTW, what type of work do you do, and what is your income and age?

[antimarxism]

Again, exactly define "fair share" and "progressive" in numbers

[trumpit94]

100,000,000,000 divided by 1,000,000 is equal to 100,000. Why don't you see that one million people with $100,000 is better than one person with one hundred billion dollars. A lot better. That is obvious.

[antimarxism]

Again, define "rich".

Again, define exactly what % of the "rich" income should be confiscated by government.

[OlivierdeAthos]

" The "poor" contribute very little to the economy, except for the few that actually work."

Wow.

[antimarxism]

Wow.

[OlivierdeAthos]

He's answered your question twice. Thankfully, his answer was as ridiculous as your question.

[antimarxism]

Thankfully. Wow. Twice. Ridiculous. Wow.

[trumpit94]

I hope this guy goes to jail for telling people to break the law. This is a gimmick for the rich to steal from the poor as they are wont to do. Tax evasion bum!

[IPA300]

Where does he say "take YOUR money and put it in tax havens"? All he does is tell us why tax havens are a good thing for citizens and economic growth. Also I'm baffled as to how tax havens steal from the poor.

[trumpit94]

Do you think the poor put their money in tax haven? The poor pay the flat (regressive) sales tax, which is theft from the poor by the rich, who should be paying higher, progressive, taxes. Why because the rich can best shoulder the burden of taxation. And for the very rich, it should be no burden at all, unless they try to avoid paying taxes by using offshore tax evasion havens. It stinks, and it's immoral, and I'm sad for you that you don't get it.

[trumpit94]

I see that you are only 20 and no doubt a male. Libertarianism appeals to your gender and age group for some reason. They think it's all about freedom, but in reality money=freedom in this capitalistic world. Try to eat without money, and you'll quickly get my point.

[IPA300]

I love how in all your rambling you don't address either of my points. So I'll ask again: Where in this video, or in part 2, does Dan Mitchell tell us to break the law? And how does TAX HAVENS (not the sales tax) steal from the poor?

[trumpit94]

SEARCH FOR "TAX HAVENS STIGLETZ"

[trumpit94]

Look up "Lucy Komisar"

[BasicEconomics]

One of the major flaws of progressive tax policy is that after an inflationary period your money has less purchasing power and eventually your salary will catch up with inflation but you will still have reduced purchasing power because when your salary went up you got bumped into the next tax bracket so you are still worse off. Please view my video on inflation

[carolyncriss]

trumpit94 - How does putting money in the hands of politicians and inefficient bureaucrats eradicate poverty? It doesn't. "Feel-Good" theories based on the Marxist faith sound cozy. Nevertheless, they don't work. Never have. Period.

[Scoforever]

Id like to react to your point before the socialists make it sound shit. Your absolutely correct. Communism can never exist. It assumes that if something is not based on greed it abolishes greed. The only way to abolish greed is to get rid of greedy people. Therefore communism is a philsophy of violence and eugenics. Power corrupts. Absolute power currupts absolutely. In communism the government has absolute power.

[carolyncriss]

Scoforever - Very well put!! Thanks for sticking up for me. I didn't know I earned a minus-8 from the trolls. A badge of honor :) I actually said something that touched a nerve.

[Scoforever]

This guy's great. If you look at the EU they're already trying to control taxes.

[OlivierdeAthos]

Most of the EU still has progressive tax rates. It's the countries in eastern europe (mostly the remnants of the Soviet Union) that are now using flat tax rates, for better or for worse.

[Truthpolice9698]

Great job as always Dan.

Bravo!

Libertarians rule hands down no one else close.

[erato99]

Great info

[BasicEconomics]

Dr. Dan Mitchell = Superhero Economist

[donotswallow]

Great video

[KohnanTB]

Go Dan!!!

[DolphinFilms]

Another great Dan Mitchell lecture. Thanks