The amount of untaxed wealth hidden offshore by the richest 0.1 percent exceeds the entire wealth of the poorest half of humanity (4.1 billion people), reveals new Oxfam analysis published today ahead of the 10th anniversary of the Panama Papers. The findings show that, a decade later, the super-rich continue to exploit offshore systems to evade taxes and conceal assets, highlighting the urgent need for coordinated international action to tax extreme wealth and end the use of tax havens.
Oxfam estimates that $3.55 trillion in untaxed wealth was stashed offshore in tax havens and unreported accounts in 2024. This sum exceeds the GDP of France and is more than twice the combined GDP of the world’s 44 least developed countries.
The richest 0.1 percent holds approximately 80 percent of all untaxed offshore wealth, or around $2.84 trillion. Within this tiny group, the ultra-wealthiest 0.01 percent holds roughly half ($1.77 trillion).
Ah… So if I’m reading you right, you’re saying:
Yes, no system currently accounts for what we NEED it to do. So the most DIRECT solution would be to create a new movement, a new SYSTEM of people, control, and influence that transcends existing abstractions like nationalities, race, culture, and have this ontologically encompassing system implement that change from its larger frame of reference.
I like that. I hadn’t considered that approach and it’s probably right on the money. I think the first step is recognition of the issue and the need for such a movement. As such… Have you thought about names?
Something you would call such an endeavor, or movement, or coalition. Something that would be instantly recognizable as to what the goal or at least spirit or attitude behind it would be? Probably seems like a silly thing to fixate on this early, but sometimes the right name is a powerful tool.
Lol.
I actually agree with most of your statement, except for “DIRECT”. That’s not part of my claim, and it shouldn’t be a goal of yours.
The terrain has been rigged so that all the direct, the locally advantageous, locally practical solutions lead back to the same toxic equilibrium. We are stuck in a historical basin of attraction and need to escape it.
The only long-term stable/viable solution, the only solution that honours our responsibility to future generations, is to avoid the immediate direct solutions, the ones that the manipulated incentive structures are set up to anticipate, and to do what you described. I’m not claiming it’s easy, or likely to happen, merely that it’s our only chance to save our species from itself.
Sure sure, though I think at that point the semantics of the word “direct” is probably something we would discuss and find common ground at. By direct I simply mean whatever the shortest VIABLE route is, which may end up being quite circuitous.