For a More Progressively Evolving Society

Thursday, September 20, 2012

Exhaustive Study Finds Global Elite Hiding As Much As $21 to $32 Trillion Offshore

Newly updated report reveals how wealthy individuals and their families have between $21 and $32 trillion of hidden financial assets around the world in what are known as offshore accounts or tax havens.  The actual sums could be higher because the study only deals with financial wealth deposited in bank and investment accounts, and not other assets such as property and yachts.  The inquiry was commissioned by the Tax Justice Network and is being touted as the most comprehensive report ever on the "offshore economy."  It also finds that private banks are deeply involved in running offshore havens, with UBS, Credit Suisse and Goldman Sachs handling the most assets.  The report’s author, James Henry, a lawyer and former chief economist at McKinsey & Company, explains more in this video. 

We must remember that this information about offshore tax havens and the $21 to $32 Trillion dollars covers "individuals", not enterprises doing the same thing, which may add anywhere from $50 to $80 Trillion dollars or more. 

All too often people deliberate about taxation, tax codes, scaled taxation and such, yet there may be wholly fresher possibilities than shuffling round the way things are done now without making any truly substantial progressively sustainable choices and actions. 

PROUT offers an alternative perspective on this relatively necessary concern of taxes, which may also include some suprising factors.  Explore PROUT's perspective here

Explore this and other articles covering alternative economics, ethical leadership, economic democracy, and a society without the weal and woe of social and economic vicissitudes HERE
How does PROUT compare or contrast with capitalism or communism?  Explore the answers HERE