White House downplays golf outing with Bain Capital lobbyist

[Octafish]

23. When do non-golf class citizens get to talk to him?

Marching Toward Greater Inequality

The Tax Havens of the Super-Rich

by SAM PIZZIGATI
CounterPunch
July 30, 2012

EXCERPT...

Maybe the rich are simply living large, wasting their astronomical incomes on caviar, private jets, and other luxuries. But wasteful consumption can’t explain the inequality paradox either. Deep pockets in America’s top 0.01 percent could shell out $5,000 every single day of the year and still have 93 percent of their annual incomes left to spend.

So what in the end can explain the inequality paradox? The London-based Tax Justice Network has an answer. The world’s super rich, the group has just reported, are squirreling away — and concealing — phenomenal quantities of their cash in secret global tax havens.

The Network’s new tax-dodging study “conservatively” computes the total wealth stashed in these havens at $21 trillion. That total could plausibly run as high as $32 trillion.

Americans make up, we know from previous research, almost a third of the global super rich. That would put the American share of unrecorded offshore assets as high as $10 trillion.

CONTINUED w LINKS...

http://www.counterpunch.org/2012/07/30/the-tax-havens-of-the-super-rich/