Mitt and His Buddies Looted Almost $10 Trillion from Real Economy

The Tax Justice Network just released an updated version of a report showing how much money gets siphoned out of the real economy into tax shelters: conservatively, $21 Trillion, and possibly as much as $32 Trillion.

I’ll have more to say about what the report says about the how the super wealthy have done in the last decade and which banks have been helping to loot the real economy.

But for now, consider where Mitt Romney fits into this picture. TJN shows that it’s really just the richest of the rich–those 91,186 people who make up the top .001%–that account for the biggest chunk ($9.8 Trillion) of this looting.

Not only is Mitt a member of that tiny club. But his net worth–commonly reported to be $250 Million but, given all the secrecy, possibly much more–puts him well above the mean $183 Million that members of this club enjoy.

And Mitt and his buddies in this very elite club have stashed 18% of the total liquid net worth of the world in places where not only can’t potential presidential voters know about it, but it also remains outside the kind of circulation that would really contribute to real economic growth.

Last week, Obama released an ad that said Mitt is the problem. TJN shows just what a big problem Mitt and his buddies really are.

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14 Responses to Mitt and His Buddies Looted Almost $10 Trillion from Real Economy

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bmaz Skimmed by Olbermann on ESPN2. Gotta say, Frank Caliendo is still the least funny guy in sports today. He has never been funny. #Stop
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bmaz @LittleMsHaldol @ThisIsJoshSmith Well, right back at you, you human pig.
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bmaz @espinsegall @rickhasen @MikeSacksEsq Are you new to Kozinski?? That is not a shocker at all.
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bmaz RT @themarkberman: Account by @azcentral reporter who witnessed the execution: "I counted about 660 times he gasped." http://t.co/fjvkp0vA6r
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bmaz @Greg651 @rickhasen Seemingly, but it is not inconsistent if you go back even further into the 90's Kozinski navel gazing on DP. Still same.
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bmaz @rickhasen @espinsegall @MikeSacksEsq Heh, yeah, I didn't think so! Kozinski has always had a complex view, but never anti. Still not anti.
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bmaz @Greg651 Thank you for sending that my way. Pretty much exactly what I expected.
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bmaz I warned people not to take Alex Kozinski's words in Wood dissent as evincing new anti-DP stance. I was right. http://t.co/6sGNEaOqmH
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bmaz @ericghill Please, don't confuse "All Things Considered" with this twit's stuff
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bmaz @afc1969 @ThisIsJoshSmith Yeah, maybe not. Not sure what happened, but the tweet was asinine and crass. To be kind.
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bmaz @afc1969 I have no idea why Twitter reflected it was dead. I don't think I miscopied it, but it is certainly possible.
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bmaz @afc1969 Yeah, dunno. It was a direct copy of the URL to his tweet. That is all I know. In fairness, this was it https://t.co/mAWU1hdHas
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