Wednesday, April 21, 2010

Bloomberg Bombshell!

Being a billionaire, our Mayor Mike constantly insists that we can't tax the rich more because "They'll leave! They can afford to leave! They create jobs!" Yada yada yada.

So basically, in Bloomberg's mind, we have to cater to the rich and not make them pay more taxes because, if we don't, they'll move their money out of NYC and the rest of us will be screwed even more. How convenient for these super-rich people ... like him.

But guess what?! They're already moving their money out of NYC! Ever heard of off-shore tax shelters? Creepy little countries in the Caribbean and Europe where people can hide their money and pay no taxes? Ever heard of laundering money through non-profits and so-called charities and foundations?

Nearly every rich person in this city and country has some of their
money off-shore or in some questionable tax-free organization. Including Mike Bloomberg! The New York Observer has an amazing story today called Bloomberg's Offshore Millions. Yes, that's right, our dear, incorruptible mayor shifts hundreds of millions of dollars of his money to accounts in the Cayman Islands as well as his charitble foundation.

This is really outrageous. Bloomberg keeps insisting that the rich are good for NYC because they pour their money into the city's economy. But just how good are they when literally hundreds of millions of dollars -- from this one New Yorker along who also happens to be the richest and most powerful person in town -- aren't going into the city's coffers or economy but literally out of the country? Why do we keep pandering to these people to the point of exhortation? I guess it's Mike Bloomberg and the rich people's city, we just live (or barely survive) in it.

This article is a quintessential example of why it's so vital that we have a free, robust press. Thanks to The New York Observer for doing this really important investigation and shedding light on this truly scandalous situation. This is reporting at its very best: afflicting the comfortable and comforting the afflicted.

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