1% hide $21 trillion, US big banks hide $10 trillion; ending world poverty: $3 trillion

Using data from the BIS, IMF, World Bank, and governments, former Chief Economist at McKinsey, James Henry, reports the 1% have deposited $21 trillion to $32 trillion in tax havens to evade taxes. Related, the Federal Reserve reports the US top seven banks have over $10 trillion in assets recorded in over 14,000 created “subsidiaries” to avoid taxes.

The 1% hide more than total annual economic output of the US and Japan combined. This is also 7 to 32 times the $1 to $3 trillion estimated to end global poverty (here, here). Importantly, the 1% in US government have reneged on their promise to end poverty since the 1990 World Summit for Children, and even reject full support of microcredit to end poverty while earning a profit.

Global poverty kills a million children every month. Since the seven US banks created the last 10,000 of their tax haven subsidiaries since 1991, more human beings have died from preventable poverty than from all wars, murders, and violent deaths of any kind in all human history. As you may know, ending poverty reduces population growth rate in every historical case.

To understand the 1%, please read the last two paragraphs again, and then consider the “emperor has no clothes” obvious unlawful wars and full spectrum of economic parasitism. This is what Occupy is helping the 99% recognize.

As always, I suggest arrests of obvious 1% leaders for obvious crimes centering in war, money, and propaganda. This creates opening for obvious economic solutions to benefit 100% of Earth’s inhabitants.

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  • http://www.infowars.com Anon

    CONTACT YOUR REPRESENTATIVE!

    Congressman Ron Paul’s H.R. 459, the Federal Reserve Transparency Act, could come up for a vote at any time! (7/25/2012)

    http://www.chooseliberty.org/audit_vote.aspx?pid=s185

  • http://rehmat1.com/ Rehmat

    Americans make a little over 4% of world population – but consumes over 40% of world’s resources. The US has world’s highest numbers of billionaires (450) and millionaires (320,000) – but 80% of them belongs to country’s 1% rich minority. The new census data released shows that over 49 million Americans (16%) live below poverty line. America has the worst wealth inequality among the industrialized world.

    America still is the largest economy ($14.6 trillion), thanks to US$ being world’s reserve currency. However, its military budget ($680 billion/year) for Zionists’ war has already bankrupted the nation. The world’s future emerging economies are China ($10 trillion), Japan ($4.3 trillion) and India ($4 trillion). According to World Bank’s projection – Asia and Africa will leave behind North America and Europe during the next few decades. That’s the main reason for Qaddafi to be eliminated.

    http://rehmat1.com/2011/11/12/ows-%e2%80%98clash-of-financial-disparity%e2%80%99/

  • Concerned50

    Petition: Most governments want powerful multinationals to pay these taxes, but the US and
    Canada are on the fence. SIGN AND SHARE !. Our $1 trillion chance. http://www.avaaz.org/en/g8_tax_havens_p/?tmXahcb

    Richest Global 1% Hide Trillions in Tax Havens Using data from the BIS, IMF, World Bank, and
    governments, the former Chief Economist at McKinsey, James Henry, reports the global 1% have deposited $21 trillion to $32 trillion in tax havens to evade taxes. The Federal Reserve reports the US top seven banks have over $10 trillion in assets recorded in over 14,000 created “subsidiaries” to avoid taxes. The 1% hide more than total annual economic output of the US and Japan combined. This
    hidden wealth is also 7 to 32 times the $1 to $3 trillion estimated to end
    global poverty. http://www.mediafreedominternational.org/2012/07/30/richest-global-1-hide-trillion-in-tax-havens/

    1% hide $21 trillion, US big banks hide $10 trillion; ending world poverty: $3
    trillion http://www.washingtonsblog.com/2012/07/1-hide-21-trillion-us-big-banks-hide-10-trillion-ending-world-poverty-3-trillion.html

    • http://ows.ettruck.com/ Ric Frye

      Signed and shared! Thanks for the links, too. Handy for “catapulting the perpaganda” (to misquote Bu$h the Lesser).

  • ggetaclue

    U.S. “illionaires” alone are hiding over 50 TRILLION … that’s FIFTY TRILLION DOLLARS. Our entire national debt is 13 TRILLION.
    Read this marvelous piece and pass it on.
    http://www.activistpost.com/2013/06/none-but-ourselves-can-free-our-minds.html

  • Jenny

    Arrests of these individuals because the ones arresting them are the ones working for them. The police serves corporate interests.

  • Jenny

    Arrests of these individuals because the ones arresting them are the ones working for them. The police serves corporate interests.

    • Carl_Herman

      Only as long as the police agree to conspire with criminals.

    • Carl_Herman

      Only as long as the police agree to conspire with criminals.

  • Jenny

    Arrests of these individuals are impossible because the police serve corporate interests.

 

 

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