Super rich hold $32 trillion in offshore havens

[Bill USA]

this is almost two years old but nothing has changed in that time so this is still worth reading and commenting on internet and emailing your Congressmen about.

http://uk.reuters.com/article/2012/07/22/uk-offshore-wealth-idUKBRE86L03W20120722

Rich individuals and their families have as much as $32 trillion (20 trillion pounds) of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income tax revenues, according to research published on Sunday.

The study estimating the extent of global private financial wealth held in offshore accounts - excluding non-financial assets such as real estate, gold, yachts and racehorses - puts the sum at between $21 and $32 trillion.

The research was carried out for pressure group Tax Justice Network, which campaigns against tax havens, by James Henry, former chief economist at consultants McKinsey & Co.

He used data from the World Bank, International Monetary Fund, United Nations and central banks.

(more)

THE PRICE OF OFFSHORE REVISITED - NEW ESTIMATES FOR MISSING GLOBAL PRIVATE WEALTH, INCOME, INEQUALITY, AND LOST TAXES - Tax Justice Network

http://www.taxjustice.net/cms/upload/pdf/Price_of_Offshore_Revisited_120722.pdf

[merrily]

1. How very patriotic of them.

Bet the vast majority are Republicans.

So many of them love their country so much they'll even spend a dollar on a flag pin. Maybe even buy a pair of bermuda shots made out of a flag pattern. Hey, their patriotism isn't just for flag pins anymore.

But, don't ask them to leave jobs in the US or obey US laws, or pay taxes.

You've heard of agape love? This is flag pin love.

[blkmusclmachine]

2. Savvy!