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Old 24.07.2012, 10:50
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Re: $21Trillion: hoard hidden from taxman by global elite

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See what I did there? ;-) People are people, whether they're in government or corporations. Certain types of people, however, will naturally gravitate towards positions of power and attempt to increase that power. Whether it's the Head of HR or the tax man, we need to be very careful about letting them do so.
I could not agree more. My point is that we had plenty of power abuse in European politics before. Several Millenia of it to be honest... so we have ample experience and by now found ways to limit it quite efficiently in my opinion. And Switzerland is in my opinion very well set up - as populistic some Swiss politicians are - they do not really waste money.

In the private sector do I see different developments: A hundred years ago was a company typically owned by some rich gentleman like Mr. Siemens, Bosch, Ford, Peugeot... and if a CEO was acting greedy was he pretty quickly an ex-Ceo. Today are the corporations so large and complex that they are typically owned by a whole lot of institutional investors. They rarely ever take any action against a management as long as they are not up a really big time... and even then do they more often than not even get paid to get lost. So the CEO of a company like UBS is in a much more powerful position than he was some decades ago... which I believe is the only reason why CEOs today earn as much as they do: I do not believe that people were morally better some decades ago... they simply pay themselves that much today - because they can.

This is in turn the key for the tax havens - Phil said that private companies only waste their own money... but the whole point is that people "creatively avoiding taxes" in fact take that money from the community. I posted it some time ago before: Here is a step-by-step guide how an large and rich company can manage to reduce their taxes to close to zero - absolutely legally so. As a result will the African country they are in remain poorer as they should be. And Switzerland benefits from it.
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  #102  
Old 24.07.2012, 11:08
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Re: $21Trillion: hoard hidden from taxman by global elite

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I could not agree more. My point is that we had plenty of power abuse in European politics before. Several Millenia of it to be honest... so we have ample experience and by now found ways to limit it quite efficiently in my opinion. And Switzerland is in my opinion very well set up - as populistic some Swiss politicians are - they do not really waste money.

In the private sector do I see different developments: A hundred years ago was a company typically owned by some rich gentleman like Mr. Siemens, Bosch, Ford, Peugeot... and if a CEO was acting greedy was he pretty quickly an ex-Ceo. Today are the corporations so large and complex that they are typically owned by a whole lot of institutional investors. They rarely ever take any action against a management as long as they are not up a really big time... and even then do they more often than not even get paid to get lost. So the CEO of a company like UBS is in a much more powerful position than he was some decades ago... which I believe is the only reason why CEOs today earn as much as they do: I do not believe that people were morally better some decades ago... they simply pay themselves that much today - because they can.

This is in turn the key for the tax havens - Phil said that private companies only waste their own money... but the whole point is that people "creatively avoiding taxes" in fact take that money from the community. I posted it some time ago before: Here is a step-by-step guide how an large and rich company can manage to reduce their taxes to close to zero - absolutely legally so. As a result will the African country they are in remain poorer as they should be. And Switzerland benefits from it.
probably the most effective and simple way of combating such supply chain manipulations is through MWST increases. But then again these costs are born by the final customer and the profits can be rerouted again. But perhaps individuals would then be forced to buy less effecting the profit base of these countries?
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tax, tax avoidance, tax dodgers, tax justice network, the guardian, the observer




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