Photo: Nina Raingold/2009 Nina Raingold
Previous estimates suggested about $11.5 trillion is kept in tax havens, far from the clutches of account holders’ governments; however, a new report from the Tax Justice Network puts the figure at $21 trillion to $32 trillion. The report’s author estimates that $9.8 trillion, or roughly a third of all the money stashed in offshore accounts, is owned by just 92,000 people, or .0001 percent of the world’s population. Apparently Mitt Romney doesn’t think being associated with a group that’s more exclusive than the 1 percent will help his campaign.
