Forbes: The Global Elite May Be Hiding $32 Trillion in Offshore Tax Havens, But The Best Solution May Be To Lower Their Tax Rates Instead of Raising Them

Over the weekend, a new report by the Tax Justice Network came out which concluded that the global elite are hiding up to $32 trillion in assets in offshore tax havens.

The report details how the global wealthy use a cadre of financial advisors – private bankers, accountants, lawyers – to skirt taxes in their local countries.

One of the stated purposes of this lobbying group is to “oppose tax havens and offshore finance.”

They go on to say that half of this missing and untaxed wealth is controlled by a mere 92,000 individuals. That would be your 1%, right there. Actually, it’s really only the 0.001% of the global population.

Most of the biggest tax dodgers, according to the report, come from the world’s poorest countries. For example, according to the Guardian:

http://news360.com/article/61574960
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