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What would be the economic impact of a country recovering tens or hundreds of billions of dollars? It couldn't immediately actual economic productivity. Would i
by SandB0x 11y ago
What would be the economic impact of a country recovering tens or hundreds of billions of dollars? It couldn't immediately actual economic productivity. Would it simply work out to reducing a country's debt obligations? Would it cause inflation? In what form is this wealth stored?
This is beyond my understanding of economics, would love to get any insights.
- akamaka 11y agoOne article claims there is $20 trillion hidden in tax havens.[1] That sounds like a lot, but considering that this is money that has accumulated over the course of decades (say 30 years), and only a portion of it would be taxable (say 20%), that would give an annual revenue stream of $133 billion per year. If that all went to the US, that would be about 7 times more than is collected by the estate tax, which is less than 1% of government revenues, but still only about half of what is collected through corporate taxes. (That $20tn estimate is actually global, though, but no breakdown by country is given) My guess is that it would noticably benefit a country to stop tax havens, but not to the point of any drastic difference. [1] http://www.bbc.com/news/business-18944097 http://www.bbc.com/news/business-18944097
- jblow 11y ago$133 billion per year! That would buy us one F-35 fighter jet per year!
- drcode 11y ago> and only a portion of it would be taxable (say 20%) Well, I think some of these hidden funds were accumulated through outright theft and could in theory be 100% recoverable. (Though in practice any recoveries are extremely unlikely, I'm sure...)