At a time when the gap between the ultra-rich and the rest of us is reaching historic heights across the globe, at least $21 trillion (with a "t") in unreported private financial wealth was recently discovered sitting in secret tax havens.
While it can be difficult to imagine sums so large, consider this: the $21 trillion alone is the amount of the U.S. and Japanese economies combined. That reflects only financial wealth, and not the holdings and investments of this monied elite in mansions, yachts, private jets, etc. According to a recent reports by the Tax Justice Network, "The Price of Offshore Revisited" and "Inequality: You Don't Know The Half of It," this staggering disparity is only growing worse.
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8 comments:
Just a coupla talking points from this goofball organization's "A Manifesto for Tax Justice":
4. Developing countries are estimated to lose revenues greater than annual aid flows. An increased return of just half a per cent on global assets held offshore could yield sufficient revenue to finance the UN Development Goals for 2015, halving global poverty. Instead, such development is under threat from the huge tax breaks offered to attract large corporations, and from the vast outflow of funds from developing countries to tax havens.
v.The possibilities for establishing regional and global tax authorities that can represent the interests of citizens.
That is the best place for it.
The Socialists can't get their grubby hands on it.
What is wrong with this?
Remember its democrats as well as republicans.
anonymous 1:07
you must be very uneducated. Please before you make a comment like this research the facts and have an idea of what you are talking about.
nothing wrong with this as long as it's legal.
Actually that's 32 trillion.
It's their money, not the governments.
Good for them. If I had any extra, that is exactly where I would keep it-out of the hands of the communists. As for 1:52-you're not very smart either.
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