Paul Caron has published an article on the TaxProf Blog, titled “The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions” which discusses the recently published book written by Chuck Collins from the Institute for Policy Studies. The article begins as follows:
For decades, a secret army of tax attorneys, accountants and wealth managers has been developing into the shadowy Wealth Defense Industry. These “agents of inequality” are paid millions to hide trillions for the richest 0.01%. In this book, inequality expert Chuck Collins interviews the leading players and gives a unique insider account of how this industry is doing everything it can to create and entrench hereditary dynasties of wealth and power. He exposes the inner workings of these “agents of inequality,” showing how they deploy anonymous shell companies, family offices, offshore accounts, opaque trusts, and sham transactions to ensure the world’s richest pay next to no tax. He ends by outlining a robust set of policies that democratic nations can implement to shut down the Wealth Defense Industry for good.
Click here to see the full article: The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions
Posted by Marin Larkin, Associate Editor, Wealth Strategies Journal.