Some points to ponder:
- The global super-rich hide $21 trillion in offshore accounts.
- That is as much as the combined GDPs of the USA and Japan.
- This figure is estimated, the true figure could be as much as $31 trillion.
- The cumulative value of the capital that has flowed out of the economies of developing countries since the 70s would be more than enough to pay off their debts to the rest of the world.
- $9.8 trillion of assets is owned by only 92,000 people.
- That’s just 0.001% of the world’s population.
- If the $21 trillion of assets earned 3% in interest a year for its owners, and governments taxed that income at 30%, it would generate $188 billion in tax revenues.
- That’s more than rich countries spend on aid to developing countries each year.
From this article by Heather Stewart for the Observer.