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.

Tweet about this on Twitter0Share on Reddit0Share on Facebook0Google+0Email to someone

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

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
Emptywheel Twitterverse
emptywheel What a crazy day it has been and it's only 7:30...
17mreplyretweetfavorite
emptywheel RT @McMahonMichelle: The first country *in the world* to pass same-sex marriage by popular vote. What a proud day to be Irish. #MarRef http…
20mreplyretweetfavorite
emptywheel RT @UlyssesReader: then wedges it tight in his oxter. He places a hand lightly on his breastbone, bows,
21mreplyretweetfavorite
emptywheel @donph right. 30 years ago the odds on this happening were infinity to one, no?
22mreplyretweetfavorite
emptywheel RT @RuadhanIT: In 1983, Irish Supreme Court said homosexuality was 'morally wrong' and 'harmful'. In history, 32 years is a blink of an eye…
23mreplyretweetfavorite
emptywheel If you're the one person who 30 years ago bet that Ireland would be the first country to vote for marriage equality, collect your winnings.
24mreplyretweetfavorite
emptywheel RT @UlyssesReader: In his buttonhole is an immense dahlia. He twirls in reversed directions a clouded cane,
26mreplyretweetfavorite
emptywheel RT @nytimes: Breaking News: In Early Vote Count, Ireland Appears Set to Legalize Gay Marriage http://t.co/T1JVqYDwj0
26mreplyretweetfavorite
emptywheel RT @chicagotribune: Irish abroad head #HomeToVote on historic gay marriage referendum http://t.co/9TWIDSJPkX http://t.co/odmOrq9Qo3
5hreplyretweetfavorite
emptywheel RT @chrisgeidner: As @StevenTDennis noted, here's Lindsey Graham's eyeroll when Rand Paul started talked there at the end: http://t.co/gjmV
6hreplyretweetfavorite
emptywheel Beginning to think DiFi and Barb read my tweet that, if alive, Abu Bakr al-Baghdadi is laughing his ass off at Burr's 11 bullet points.
6hreplyretweetfavorite
emptywheel @StevenTDennis Nope. Plus NSA almost certainly keeps tapes against the rules (reasonable amounts of evidence to the effect).
6hreplyretweetfavorite