Global Super-Rich Stashing Up To $32 Trillion Offshore, Masking True Scale Of Inequality: Study
Global Super-Rich Stashing Up To $32 Trillion Offshore, Masking True Scale Of Inequality: StudyThe Huffington Post | By Jillian Berman
Posted: 04/29/2013 2:17 pm EDT
<snip>
The global super-rich are stashing trillions of dollars offshore with the help of some of the world's biggest banks, putting billions of dollars out of the taxman’s reach and masking wealth inequality's true heights.
Wealthy people were hiding between $21 and $32 trillion in offshore jurisdictions around the world as of 2012, according to a 2012 study from the Tax Justice Network, an organization which aims to promote tax transparency. The study, highlighted by a recent Bloomberg News report, found that more than $12 trillion of that money was managed by 50 international banks, many of which received bailouts during the financial crisis, according to James Henry, the study’s author.
Bloomberg article: http://www.bloomberg.com/news/2013-04-29/billionaires-flee-havens-as-trillions-pursued-offshore.html
“There’s a lot more missing wealth in the world than we had known about from previous estimates,” Henry told The Huffington Post. “The real scandal is not all these individual scandals but the fact that world’s policy makers who know about this stuff, have basically done nothing.”
The issue of wealthy individuals hiding their money offshore has come into sharp focus in recent months as reports, including those of the International Consortium of Investigative Journalists, have noted the broad scope of the issue.
The study's findings also reveal that the true levels of global income inequality remain unknown, as current estimates do not incorporate the offshore stashes and hence underestimate its true levels. the study found.
The Study (.pdf file): http://www.taxjustice.net/cms/upload/pdf/Price_of_Offshore_Revisited_120722.pdf
<snip>
More: http://www.huffingtonpost.com/2013/04/29/wealthy-stashing-offshore_n_3179139.html?utm_hp_ref=business
= new reply since forum marked as read
I thought it was common knowledge that this country -- especially DC -- has been hijacked by corporate, BIG MONEY interests.
... so I can't tell the difference between the ones that are established as fact and those that are still in the CT stage. I know there are filters on the internet, the reactor in Fukushima is boring through the Earth's mantle and will soon reach the core, and that Al Qaeda owns a controlling share of FOX News. I'm still investigating the possibility that a foreign based cabal of Moose and possibly Camels are conspiring to launch a wave of ping pong ball attacks in the US. I'll keep you posted. 
I hear you!
That foreign-based cabal of Moose (not sure about camels) story has LEGS, I'm tellin' ya!
but none of the people that matter would like them.
& R
they cant take it with them !
