Offshore Economy

Ah yes... the rich will create jobs if allowed to keep their money. Ok, they have their money, where are the jobs? Where are the roads and bridges they are building? National defense they provide? Where is the consumer protection they provide? No? Oh, that is government's job? And were is government supposed to get the funds to do these things? And do the rich benefit from these things? They better start stepping up or things are going to get ugly.  Just say'n.


http://www.guardian.co.uk/business/2012/jul/21/global-elite-tax-offshore-economy

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network.

James Henry, former chief economist at consultancy McKinsey and an expert on tax havens, has compiled the most detailed estimates yet of the size of the offshore economy in a new report, The Price of Offshore Revisited, released exclusively to the Observer.