This comes from Jim Henry's new work for the Tax Justice Network on global wealth and inequality:
It's the top 0.14% who make up the global elite. And almost half their wealth is offshore.
Everyone else has an average wealth of $1,600 each, and you can bet that even that is heavily skewed.
Inequality mnatters.
And tax can address the issue. Which is why this work was done.
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financial wealth
“It’s the top 0.14% who make up the global elite. And almost half their wealth is offshore.”
I would assume that at least half of these 92k people live in what you would call “offshore”. Monaco, with a population of 36k, alone must have a fair few of them, as do Switzerland, the Bahamas, etc.
So these people keep their financial assets where they live. What is the problem?
Oh get real – no one can “live” in Monaco and those who claim residence there don’t