Comment · Mon, July 23, 2012
Super rich hiding up to $32 trillion offshore, which amounts to roughly the US and Japanese GDP combined. Up to $280bn is lost in tax revenues. Some of the world's biggest banks are involved: HSBC, Citigroup, Bank of America, UBS, Credit Suisse
What they were answering
godgivenname · 2 points
Having one 600 dollar cellphone doesn't count as rich, although they have a sweet phone. The American Dream is being declared dead, because no matter how cool the phone is these kids are facing outrageous debts to go to school, a top heavy job market that prevents many from being employed in any positions above fry cook/valet/server/UPS delivery driver, and competition from kids with college degrees applying for the same crappy jobs as kids with only high school degrees. Essentially, even if you want to get a crappy job, then you'd better go to college. Then you get college debt, that is currently way higher than it has ever been due to the increases in tuition, and have to pay off this debt on a poverty line wage. By the time this is done and you've saved up enough to put a down payment on a house or invest in your own business, you wouldn't be able to pay off the house or overhead in case business fails until after you're dead. Alternatively, you don't have to go to college, so you work a crappy job and live with you're parents. After staying at a job for 5 years, if you're that lucky, you might get enough of pay raise to actually rent your own place out with some roommates. So, we're fucked, but we've got cool phones to distract us from the bleak forecast of never having what our parents had, while also paying for everything they got and we didn't.
u/MisterYouAreSoDumb
The problem is that nobody understands economics. There are plenty of opportunities in this country, even more so than the past. However, people are unwilling or ignorant as to how to get them. Does everyone really think going to college and getting massively in debt, just to get the same degree than hundreds of thousands of others got, with no experience, is going to make them money?!? Does anyone stop to think about it anymore?!? I have many friends that thought about the potential market first, then got the degree from a school that also gives them experience. They all have great jobs now, and other offers to boot. They did not sign up for an art history major, then freak out that there are no curator jobs available! I do know people that have done just that though, and they are unemployed. People need to research the field first, then make damn sure they experience along with their education. The schools certainly aren't looking out for us!