TENS of TRILLIONS stashed ILLEGALLY in tax havens

[BlueStreak]

3. And please note that when you see the statistics that the 1% are paying a reasonable share

of taxes, that never includes all the money they have been able to shelter. In addition to all these illegal offshore tax havens, there are also plenty of perfectly legal shelters. The simplest one is to create corporations to hold the money and never realize that income personally -- but still have full control over the money.

And it is only the 1% who can afford the accountants and lawyers to pull off these schemes while staying out of jail.

So when statistics show that the 1% pay their "fair share", realize that we are probably looking at only 1/4 of their actual income. That is the real problem with tax equity in our nation today. Other than the lowest income 20%, all the other income slices of the population appear to be paying about the same proportionate share -- not a progressive tax, but at least a flat scale. But that obscures the real game which is that the 1-percenters are able to shelter most of their income.

The 1% are the ultimate freeloaders in our society.