Can this figure and @gabriel_zucman startling estimate of UHNW offshore tax evasion both be right? If they are, where has all the money gone?https://twitter.com/AnzhelaYC/status/1136904582867673088 …
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Zucman estimates $7.6 trn offshore wealth 80% unreported. Mainly equities, bonds & mutual fund shares rather than bank accounts. OECD data is bank accounts peak of 1.6 trn in 2016pic.twitter.com/STmSccP844
....which wouldn't be picked up by the OECD study of bank deposits. So i guess that doesn't confirm or deny the existance of the additional 5 trn undeclared offshore assets that Zucman estimates.
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Zucman’s estimate is based upon 90% of offshore accounts (cash and securities) being undisclosed. That is incompatible with only a 25% decline in offshore accounts. Something is wrong here.
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Yes I see what you mean. Which is based on that one Swiss study. http://www.piketty.pse.ens.fr/files/Rousille2015.pdf …. So for Zucman's 80% undeclared assumption to hold true on average across cash and securities. 95% of income from securities held offshore must be tax evading.
End of conversation
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