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Wealthy May Hide as Much as $32 Trillion Offshore, Report Says -- Bloomberg
Wealthy individuals may have been hiding as much as $32 trillion offshore at the end of 2010, according to Tax Justice Network, a U.K.-based organization that campaigns for transparency in the financial system.
The estimate is almost three times the organization’s last estimate of $11.5 trillion in 2005. Fewer than 100,000 people own $9.8 trillion of offshore assets, according to the research, carried out by former McKinsey & Co. economist James Henry.
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World's wealthiest have 'deprived the taxman of £13TRILLION by hiding cash in tax havens overseas' -- Daily Mail
Tax Justice Network: Wealth Held in Tax Havens Skyrockets -- Wall Street Journal
Tax havens: Super-rich 'hiding' at least $21tn -- BBC
Wealthy hiding $21 trillion in tax havens, report says -- CBC
World's super-rich are holding $32 trillion in tax havens -- Digital Journal
Wealth doesn't trickle down – it just floods offshore, new research reveals -- Heather Stewart, The Guardian
My Comment: I can understand wealthy individuals and corporat
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More News On $32 Trillion In Off-Shore Tax Havens
World's wealthiest have 'deprived the taxman of £13TRILLION by hiding cash in tax havens overseas' -- Daily Mail
Tax Justice Network: Wealth Held in Tax Havens Skyrockets -- Wall Street Journal
Tax havens: Super-rich 'hiding' at least $21tn -- BBC
Wealthy hiding $21 trillion in tax havens, report says -- CBC
World's super-rich are holding $32 trillion in tax havens -- Digital Journal
Wealth doesn't trickle down – it just floods offshore, new research reveals -- Heather Stewart, The Guardian
My Comment: I can understand wealthy individuals and corporat
World's wealthiest have 'deprived the taxman of £13TRILLION by hiding cash in tax havens overseas' -- Daily Mail
Tax Justice Network: Wealth Held in Tax Havens Skyrockets -- Wall Street Journal
Tax havens: Super-rich 'hiding' at least $21tn -- BBC
Wealthy hiding $21 trillion in tax havens, report says -- CBC
World's super-rich are holding $32 trillion in tax havens -- Digital Journal
Wealth doesn't trickle down – it just floods offshore, new research reveals -- Heather Stewart, The Guardian
My Comment: I can understand wealthy individuals and corporations leaving assets off-shore .... many of them are doing it legitimately. I can also understand that corrupt governments and criminal groups may want to keep their money elsewhere .... in case they have to run and/or do something else with those funds .... OK .... there is some money there. But .... the super wealthy hiding assets that are 1.5x - 2.0x of the US GDP ($21T - $32T) .... in short .... offshore tax havens are worth double what the US GDP was for 2011. Hmmmm .... sorry .... that's stretching it..
The Tax Justice Network's website is here.
Tax Justice Network: Wealth Held in Tax Havens Skyrockets -- Wall Street Journal
Tax havens: Super-rich 'hiding' at least $21tn -- BBC
Wealthy hiding $21 trillion in tax havens, report says -- CBC
World's super-rich are holding $32 trillion in tax havens -- Digital Journal
Wealth doesn't trickle down – it just floods offshore, new research reveals -- Heather Stewart, The Guardian
My Comment: I can understand wealthy individuals and corporations leaving assets off-shore .... many of them are doing it legitimately. I can also understand that corrupt governments and criminal groups may want to keep their money elsewhere .... in case they have to run and/or do something else with those funds .... OK .... there is some money there. But .... the super wealthy hiding assets that are 1.5x - 2.0x of the US GDP ($21T - $32T) .... in short .... offshore tax havens are worth double what the US GDP was for 2011. Hmmmm .... sorry .... that's stretching it..
The Tax Justice Network's website is here.