An important and quite stunning study has just been published by an organization called the Tax Justice Network. It has surveyed the holdings of the tax havens around the world, from Switzerland to the Cayman Islands and the rest.
According to the Tax Justice Network, the holdings in these tax havens now amount to an incredible $21 trillion. That sum is equal to the gross national product of the U.S. and Japan combined.
That unimaginable horde is owned or controlled by just 92,000 people in the world. They constitute not Occupy Wall Street’s 1 per cent of all taxpayers but a mere 0.001 per cent of them.
And there won't be consequences?