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Super-Rich Hold Up To $32 Trillion In Offshore Havens: Report -
Andrew C (✓)
"LONDON, July 22 (Reuters) - Rich individuals and their families have as much as $32 trillion 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." -
32 TRILLION?!? Geez. What the hell does anyone need with that much money? What, are the 1% starting their own space program? -
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