Tuesday, April 12, 2005
11.5 Trillion in Tax Havens
I found this through a Molly Ivins piece, but thought the info important enough to link to directly. The Price of Offshore is in pdf format so you need Adobe Reader to see it. Or here is a Google HTML version. It's only two pages long but here are the summary points:
Our research suggests that:
- approximately US$11.5 trillion of assets are held offshore by high net-worth individuals;
- the annual income that these assets might earn amounts to US$860 billion annually;
- the tax not paid as a result of these funds being held offshore might exceed US$255 billion each year.
The CR FAQ - An Introduction to Celtic Reconstructionist Paganism
