capitalism
capitalism
Out of context: Reply #1021
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- utopian2
The level of sneakiness with Americans hiding money abroad is staggering.
Whether dodging taxes or legal peril, wealthy Americans often succeed in concealing assets from the government by hiding their money in offshore bank accounts.
Research from the IRS and a group of economists last year found that the top 1% of earners in the U.S. neglect to report 20% of their income — and that random audits almost never detect offshore accounts.
“The level of sneakiness around very wealthy American clients hiding their money abroad is kind of staggering,” best-selling author Patrick Radden Keefe told Yahoo Finance’s editor-in-chief in a new episode of "Influencers with Andy Serwer."