Mr. Juan Gonzalez has mentioned $32 trillion (in off-shore accounts) in a couple of his letters to the VMS. He states it in a way that makes it seem like it’s US corporations that have all that cash stashed away.
To doubt there are some corporations and individuals that are guilty of doing that to avoid the tax-man. So, I looked it up.
This is what I found when I googled, “$32 trillion in offshore accounts”. (There are numerous articles) From a www.forbes.com article, “If you want to crack down on $32 trillion in offshore tax havens, lower taxes for the ultra-rich” which states, “Most of the biggest tax dodgers, according to the report, come from the world’s poorest countries.”
I cannot help but wonder if one of the two wealthiest men in world, Mexican billionaire Carlos Slim might be one of those tax dodgers?
The estimated $21 trillion to $32 trillion that is stashed away includes corporations and individuals from all over the world, not just America as Mr. Sanchez led us to believe.
The truth is that there is greed at every level of income. A person may have $10 dollars and love money, or $10 billion and love money.
You reckon that’s why the Bible says, “For the love of money (not the money itself) is the root of all evil …” (1st Timothy 6:10 KJV).
Bottom line is that the more any corporation, business, or individual is taxed, the more likely it is that they will look for a means or a place that will allow them to keep more of their income.
Why can one suppose that many corporations, businesses, and millions of individuals have fled high tax states like California and New York?
Some corporations like Boeing relocated to S. Carolina and other corporations and individuals have moved to Texas which has lower taxes and no state income tax to avoid paying high taxes.
Think about it, higher taxes means businesses will reloate. No business means no jobs.
Think about this also, Democrats and RINOS are always for raising everyone’s taxes.
N. Rodriguez Harlingen
