52,000 Rich Americans Stash Cash In Swiss Banks

A hearing on capital hill reveals that an estimated 52,000 Americans accounts are held in the Swiss Bank UBS. Costing America an estimated 3 Billion a year in revenue. Watch the hearing here:

http://www.c-spanarchives.org/library/index.php?main_page=product_video_info&...

Category:

News & Politics

Tags:

• Off Shore Banks
• income tax evasion
• mega rich
• corruption
• corporate crime
• IRS
• national debt
• economic collapes
• outlaws
• crimes against americans

[pixelfr33k]

Way to sound off on something you know nothing about. Assets are not taxable. Income is taxable. You are not taxed on the content of your bank account and neither are the rich. Interest earned is considered income and is taxable. However that is such a small amount in the grander scheme of things as to be negligible. The only reason these accounts are being sought is to force companies to use a banking system that creates money from monies held ie... debt.

[Boomer1949]

@pixelfr33k We aren't talking about assets. I'm talking about profits, income. If there is nothing to hide, why are these bastards putting their money in Swiss bank accounts. Is it drug money? Arms sales money? Child prostitution or porn? Why not declare the income in the US like normal working people?

[Maxobillion]

Tax the rich excessively and they will take the risk and bank offshore. If taxes were fair, wealthy people would come back.

The rich will always get away with this because they have the means to do it.

[Boomer1949]

@Maxobillion that's always the threat from large corporations, yet their base is still in the US, only manufacturing facilities off shore, even banks keep their headquarters in the US. I don't think corporations or the mega rich worry as much about taxes as the middle class, they don't pays as much as we do. Example is this dust up over drug coverage for retired employees. The corp have been getting a huge tax break and are upset because it's being taken away.

[Boomer1949]

@Maxobillion that's always the threat from large corporations, yet their base is still in the US, only manufacturing facilities off shore, even banks keep their headquarters in the US. I don't think corporations or the mega rich worry as much about taxes as the middle class, they don't pays as much as we do. Example is this dust up over drug coverage for retired employees. The corp have been getting a huge tax break and are upset because it's being taken away.

[cjrodrigs]

There is more money coming out than comming in ...

[cjrodrigs]

Rich People always want to avoid paying taxes and people dont want raise their taxes

[pixelfr33k]

@pixelfr33k You have the right to hold your assets in any bank, under your mattress, buried in the yard or anywhere else you see fit. When liberals start tinkering with laws no matter how good their intent is there are always drastic consequences. The government has no bisiness telling people how to manage their assets.

[pongtop]

They haven't stopped fleecing the gullible, all the newspapers, all the news channels, are still churning out crap about everything and anything.

Gold, Silver, old watches, scrap cars, paintings sold at millons of dollars/pounds.

Anything to keep a grip on capitalism verses comunisum .

Lets try CAPCOM, where everyone has a place to live, food on the table and heat.

Simple concept.

[Boomer1949]

I know, it's a harsh lesson to learn that Wall St isn't about you getting wealthy, it's about fleecing gullible, and hopeful working people of their money. This time they really screwed the goose when they went greediggon.