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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>>…</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> <b>On Behalf Of </b>Mr Jones<br><b><span style='color:#1F497D'>…</span></b></span><o:p></o:p></p><div><div><div><div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:11.0pt;color:#1F497D'>>>…</span><span style='font-size:11.0pt;color:#1F497D'>Rich people are our friends. They help us all, even if indirectly</span><span style='font-size:11.0pt;color:#1F497D'>…</span><span style='font-size:11.0pt;color:#1F497D'>spike</span><span style='color:#1F497D'><o:p></o:p></span></p></div></div></div></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><span style='color:#1F497D'>>…</span>Fair enough. When it's being used, it can at least be viewed in positive light as you've just shown me. What good is $100Million in an off-shore tax safe haven doing humanity? <span style='color:#1F497D'>MrJones</span><o:p></o:p></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Is doing? The question is what good did that fortune do for humanity while it was being amassed to start with. There are as many different answers to that question as there are great fortunes. The good for humanity was done to generate the fortune. What it does after depends on governments incentivizing its use for the good of all.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>But I can deal with the other question as well. $.1G in an offshore account benefits humanity, since the banker holding that fortune invests it in order to make money on it. The businesses thus created benefit their owners and their employees, as well as their customers, and the bank stock holders. Governments in the nations where the money is invested collect taxes, so they benefit, as well as the citizens of those countries.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>The biggest benefit to us is to remind governments that if their tax burden gets too high, the people with wealth and talent in those nations will take their money and go elsewhere. So it encourages governments to treat their wealthy and talented with respect. That reminder keeps all our taxes lower.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>The US was set up so that we would be a collection of state governments that compete with each other to keep taxes under control. California is a great example of what happens when tax burdens get too high. Raising taxes, as California did in both 2009 and 2010 actually causes revenues to go down, because the rich Californians take their money and skill elsewhere. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Offshore accounts remind the federal government that it is in competition with other governments. It needs to treat its rich people with respect and create a mutually beneficial relationship with them. Rich people are to be incentivized to invest domestically, creating wealth and jobs, resulting in domestic trade, infrastructure building, all kinds of good things. The flip side is if there is a business-unfriendly government, the rich sit on their money and wait it out, as we are seeing now.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>spike<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p></div></div></div></body></html>