My future! - PeachParts Mercedes-Benz Forum

Hatterasguy · #1 01-29-2009, 02:24 PM

http://www.forbes.com/2009/01/28/olenicoff-ubs-offshore-personal-finance-taxes_0127_olenicoff_ubs.html?feed=rss_personalfinance_taxesestates

Crap I guess hiding money offshore wouldn't be a good idea after all!

pawoSD · #2 01-29-2009, 03:30 PM

Dirty rich people. Why hoarde money? It doesn't go with you when you die. They only accept good deeds and a clean lifestyle at the Pearly gates. No Cash!

They say that rich people are less likely to give on a percentage of their income, because they have become so attached to their money. If an "average" person gave $100 to a charity, thats a WAY higher percentage than if a super rich person gives $1000. Its because the super wealthy have to "protect" their vast money pile.

Scary stuff.

Mike D · #3 01-29-2009, 04:20 PM

Nonsense! There's nothing wrong with hiding money offshore and in fact I have a huge stash hidden where nobody will find it.

Ummm, just in case the jar breaks, does anybody know if seawater corrodes copper pennies?

pawoSD · #4 01-29-2009, 04:28 PM

Quote:

Originally Posted by Mike D

Ummm, just in case the jar breaks, does anybody know if seawater corrodes copper pennies?

Yes, they will be green and nasty.....like paper money!

RichC · #5 01-29-2009, 04:51 PM

When reaching near the top of the ladder of success, I realized I had it leaned aginst the wrong wall the whole time

-- Joseph Campbell

Hatterasguy · #6 01-29-2009, 08:49 PM

Quote:

Originally Posted by Mike D

Nonsense! There's nothing wrong with hiding money offshore and in fact I have a huge stash hidden where nobody will find it.

Ummm, just in case the jar breaks, does anybody know if seawater corrodes copper pennies?

I recomend burying it in your back yard.

WVOtoGO · #7 01-29-2009, 10:04 PM

Quote:

Originally Posted by Hatterasguy

I recomend burying it in your back yard.

I recommend burying some of it in aluminum toys.

-Shelby

iwrock · #8 01-29-2009, 10:39 PM

Quote:

Originally Posted by WVOtoGO

I recommend burying some of it in aluminum toys.

-Shelby

Good idea, but those are a little big to store in your backyard.....

Now, if I owned property with a runway....

C280 Sport · #9 01-29-2009, 11:27 PM

Stuff like would not happen if the Gov. would just keep its hands out of the pockets of the people. That is a major reason people hide money is to keep from getting raped on the taxes. I am guilty I wont lie I have purchased realestate then sold it and then took the money and put it into another proporty in order to keep uncle sam out of my pocket.

Hatterasguy · #10 01-29-2009, 11:36 PM

1031 exchange?

mgburg · #11 01-30-2009, 10:24 AM

Quote:

Originally Posted by Mike D

Nonsense! There's nothing wrong with hiding money offshore and in fact I have a huge stash hidden where nobody will find it. ... Ummm, just in case the jar breaks, does anybody know if seawater corrodes copper pennies?

If they're stamped with 1982 (or later), they'll corrode away REAL FAST, with just fresh water...

You can try it yourself...scratch any penny made since 1982...stick it in a large glass, cover the glass so the water won't evaporate, then set the glass on your dresser and just watch the thing disappear over the next few months...

Mike D · #12 01-30-2009, 11:02 AM

Shucks! I guess I'll have to make a major upgrade to my secret stash and go with nickles! Gonna have to get a bigger jar or maybe even TWO jars!

Burying it in the backyard takes away the thrill of that whole "offshore" idea.

LUVMBDiesels · #13 01-30-2009, 12:37 PM

Best part of the article...

QUOTE:"Olenicoff's assessment of his own role: "a pawn and victim of a greedy scheme." He's asking $500 million in damages, which, given his admitted role in stiffing Uncle Sam, might be something of a stretch."