Download or read book The Hidden Wealth of Nations written by Gabriel Zucman and published by University of Chicago Press. This book was released on 2015-09-22 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: We are well aware of the rise of the 1% as the rapid growth of economic inequality has put the majority of the world’s wealth in the pockets of fewer and fewer. One much-discussed solution to this imbalance is to significantly increase the rate at which we tax the wealthy. But with an enormous amount of the world’s wealth hidden in tax havens—in countries like Switzerland, Luxembourg, and the Cayman Islands—this wealth cannot be fully accounted for and taxed fairly. No one, from economists to bankers to politicians, has been able to quantify exactly how much of the world’s assets are currently hidden—until now. Gabriel Zucman is the first economist to offer reliable insight into the actual extent of the world’s money held in tax havens. And it’s staggering. In The Hidden Wealth of Nations, Zucman offers an inventive and sophisticated approach to quantifying how big the problem is, how tax havens work and are organized, and how we can begin to approach a solution. His research reveals that tax havens are a quickly growing danger to the world economy. In the past five years, the amount of wealth in tax havens has increased over 25%—there has never been as much money held offshore as there is today. This hidden wealth accounts for at least $7.6 trillion, equivalent to 8% of the global financial assets of households. Fighting the notion that any attempts to vanquish tax havens are futile, since some countries will always offer more advantageous tax rates than others, as well the counter-argument that since the financial crisis tax havens have disappeared, Zucman shows how both sides are actually very wrong. In The Hidden Wealth of Nations he offers an ambitious agenda for reform, focused on ways in which countries can change the incentives of tax havens. Only by first understanding the enormity of the secret wealth can we begin to estimate the kind of actions that would force tax havens to give up their practices. Zucman’s work has quickly become the gold standard for quantifying the amount of the world’s assets held in havens. In this concise book, he lays out in approachable language how the international banking system works and the dangerous extent to which the large-scale evasion of taxes is undermining the global market as a whole. If we are to find a way to solve the problem of increasing inequality, The Hidden Wealth of Nations is essential reading.

Download or read book Confidence Games written by Tanina Rostain and published by MIT Press. This book was released on 2014-04-25 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise and fall of a tax shelter industry that enabled some of America's richest citizens to avoid paying their fair share of taxes. For ten boom-powered years at the turn of the twenty-first century, some of America's most prominent law and accounting firms created and marketed products that enabled the very rich—including newly minted dot-com millionaires—to avoid paying their fair share of taxes by claiming benefits not recognized by law. These abusive domestic tax shelters bore such exotic names as BOSS, BLIPS, and COBRA and were developed by such prestigious firms as KPMG and Ernst & Young. They brought in hundreds of millions of dollars in fees from clients and bilked the U.S. Treasury of billions in revenues before the IRS and Justice Department stepped in with civil penalties and criminal prosecutions. In Confidence Games, Tanina Rostain and Milton Regan describe the rise and fall of the tax shelter industry during this period, offering a riveting account of the most serious episode of professional misconduct in the history of the American bar. Rostain and Regan describe a beleaguered IRS preoccupied by attacks from antitax and antigovernment politicians; heightened competition for professional services; the relaxation of tax practitioner norms against aggressive advice; and the creation of complex financial instruments that made abusive shelters harder to detect. By 2004, the tax shelter boom was over, leaving failed firms, disgraced professionals, and prison sentences in its wake. Rostain and Regan's cautionary tale remains highly relevant today, as lawyers and accountants continue to face intense competitive pressure and regulators still struggle to keep pace with accelerating financial risk and innovation.

Download or read book Overview of Tax Shelters written by United States. Congress. Joint Committee on Internal Revenue Taxation and published by . This book was released on 1975 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Shelters and Tax free Income for Everyone written by William C. Drollinger and published by . This book was released on 1977 with total page 752 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Running for Shelter written by Richard Meyer and published by . This book was released on 1985 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Shelters Real Estate written by United States. Congress. Joint Committee on Internal Revenue Taxation and published by . This book was released on 1975 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Background on Tax Shelters written by and published by . This book was released on 1983 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Shelters the Basics written by Arthur Andersen & Co and published by HarperCollins Publishers. This book was released on 1983 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Shelters Use of Limited Partnerships Etc written by United States. Congress. Joint Committee on Internal Revenue Taxation and published by . This book was released on 1975 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Audit proof Tax Shelters written by Donald J. Korn and published by . This book was released on 1993 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Shelters Movie Films written by United States. Congress. Joint Committee on Internal Revenue Taxation and published by . This book was released on 1975 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Shelters that Work for Everyone written by Judith H. McQuown and published by McGraw-Hill Companies. This book was released on 1979 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Shelters written by Ruth G. Schapiro and published by . This book was released on 1983 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Internal Revenue Service written by Michael Brostek and published by DIANE Publishing. This book was released on 2003 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Reform Proposals written by United States. Congress. Senate. Select Committee on Nutrition and Human Needs and published by . This book was released on 1974 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Shelters written by Robert A. Stanger and published by . This book was released on 1982 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Shelters for High Income Clients written by and published by . This book was released on 1973 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: