Tax Havens: Super-Rich ‘Hiding’ At Least $21tn

A global super-rich elite had at least $21 trillion (£13tn) hidden in secret tax havens by the end of 2010, according to a major study.

The figure is equivalent to the size of the US and Japanese economies combined.

The Price of Offshore Revisited was written by James Henry, a former chief economist at the consultancy McKinsey, for by the Tax Justice Network.

Tax expert and UK government adviser John Whiting said he was sceptical that the amount hidden was so large.

Mr Whiting, director of the Office of Tax Simplification, said: "There clearly are some significant amounts hidden away, but if it really is that size what is being done with it all?"

Mr Henry said his $21tn is actually a conservative figure and the true scale could be $32tn. A trillion is 1,000 billion.

Read more here: http://www.bbc.co.uk/news/business-18944097

This stupifies me.  This is an absolute atrocity.  I'd be willing to bet that man couldfix 99% of his problems with this money…  hunger, homelessness, etc.  and the super rich just hideit away from themselves.  How is this system not totally broken? How is this fair at all…  it isn't.  -Mort