$21 Trillion Hidden in Offshore Accounts

by Bud Meyers, published August 4, 2015

The world’s super-rich have taken advantage of lax tax rules to siphon off at least $21 trillion, and possibly as much as $32 trillion, from their home countries and hide it abroad — a sum larger than the entire American economy. And almost half of the minimum estimate of $21 trillion ($9.8 trillion) is owned by just 92,000 people. John Christensen of the Tax Justice Network. “Inequality is much, much worse than official statistics show, but politicians are still relying on trickle-down to transfer wealth to poorer people.”

Jesse Ventura, former Minnesota governor (July 21, 2015): “I’d like to see them implement a maximum wage. If you can’t live off of $100,000,000 a year, there’s something wrong with you. There’s not a person on the planet that should make more than that in one year.” Jesse Ventura says “Bernie Sanders is my hero right now,” and praises a $15 an hour minimum wage.

Senator Bernie Sanders (July 25, 2015): “There is something profoundly wrong when we have a proliferation of millionaires and billionaires at the same time as millions of Americans work longer hours for lower wages and we have the highest rate of childhood poverty of any major country on earth.”

Nigel Travis, Dunkin’ Donuts CEO, is calling the decision to raise the hourly minimum wage for New York fast food workers from the current $8.75 to $15 statewide in 2021 “absolutely outrageous.” Travis declared in a CNN interview that it will hurt the small-business people who run Dunkin’ franchises. He made $10.2 million last year, over double his take-home the year before. Travis says the minimum wage hike will mean “less hiring” at Dunkin’ Donuts, and adds: “I don’t want to sound threatening.”

Rich Kids Of Instagram: They have more money than you and this is what they do.

Huffington Post: When Republicans Nominate a Billionaire, Only Bernie Sanders Will Save Democrats

CNN: Poll shows Bernie Sanders would beat Donald Trump

Huffington Post: Clinton Is Not a Stronger Candidate Than Bernie Sanders

ABC News: Bernie Sanders Lands a Sweet Endorsement From Ben & Jerry’s Co-Founder

Washington Post: The super PAC supporting Jeb Bush (Right to Rise), raised about $811,000 from lobbyists and lobby firms, mostly from Washington and Florida.

Much more here at Too Much…