Untaxed wealth hidden offshore by richest 0.1% surpasses entire wealth of the poorest half of humanity
Oxfam International6 days
A decade after the Panama Papers, the super-rich are still hiding $3.55 trillion in offshore tax havens — more than the entire wealth of the poorest 4.1 billion people. This isn't clever accounting; it's raw power and impunity, starving public hospitals and schools while ordinary people foot the bill. Taxing extreme wealth isn't radical — it's the only way to stop a rigged system from shredding what's left of society.
Wealth taxes sound righteous but consistently fail in the real world — France, Spain and other countries repealed them after wealthy taxpayers simply left, raising far less revenue than promised. A 2% wealth tax is effectively a 50% capital gains tax, punishing investment and killing the capital formation that drives wages for everyone. Soaking the rich is a political fantasy that postpones hard fiscal choices while making economies weaker.
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