An excerpt from the above linked-to article follows. I will activate the link for your convenience:
** Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income tax revenues, according to research published on Sunday…
The research was carried out for the British-based lobby group Tax Justice Network, which campaigns against tax havens, by James Henry, former chief economist at consultants McKinsey & Co.
Henry used data from the World Bank, International Monetary Fund, United Nations and central banks. **
What a great snapshot of mafia capitalism in action! To be clear, That is the only kind of capitalism happening. The law & order crowd – builders of national security states – whose idea of law and order is simply the profitable business of damping down the unrest and protests that result from the neoliberal polices they devise and implement, will flourish while the god of this system things, their god, reigns. (See “This is the Security State Steve Built,” by Murray Dobbin.)
The 99% doesn’t live in Richistan, but, unfortunately, they do live ‘under’ it’s tyrannical rule. How else would you describe a situation in which politicians in effect lie to us about our finances as the prelude to selling our public assets to their private sector partners who, conveniently, hate us and can’t wait to squeeze us to death. The loveless bosses give it to us while the loveless politicians give it to us in the form of privatization-enabling austerity. It makes them feel alive, as they tell us how all the torture they’re gleefully dishing out will benefit us. “There is no money because we allow our friends in the private sector and private life to steal it, shmucks!!!,” would be the honest statement for the Benefactors in power to make.
That is how it is – for now.