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The Wealth Hoarders
How Billionaires Pay Millions to Hide Trillions
Collins, Chuck Publisher: Polity
Year Published: 2021
Resource Type: Book
Abstract:
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Contents:
Foreword
Acknowledgments
Prelude 1983: Discovering the Money River
Slurping Lessons
Notes
Prelude 2004: The Blue Hippo Swindle
Notes
Prelude 2020: The Theft of Angola
Notes
Introduction
How Much Wealth is Hidden
Hidden Wealth Touches Us All
About the Book
Notes
1. The High Cost of Hidden Wealth
Wealth Extraction and Poverty
Sheltering Deadbeats and Kleptocrats
Tax Dodging and the Growing Concentration of Wealth
Oligarchy and the Dynasties of Wealth
Spending Millions to Defend Billions
Notes
2. Who Are the Wealth Defenders?
The Wealth Defense Class
Cracks in the Facade
New York Lawyers on Candid Camera
Confessions of a Wealth Defender
Armor Up: Dynasty Building
Do "Only Morons Pay the Estate Tax"
Notes
3. Tools in the Wealth-Hiding Toolbox
Wealth Hiding Increases as Inequality Grows
Delaware and Shell Companies
Lots of Salaries Depend on Delaware's System
The Skinny on Trusts
South Dakota: Global Mecca for Wealth-Hiding Dynasty Trusts
Bending the Intent of Trust Law
Notes
4. All in the Family Office
Origins of Modern Family Offices
Pools of Money You've Never Heard About
Financial Butlers
Good Jobs in Wealth Defense
Growing Inequality, Growing Wealth Defense
Family Offices Protecting their Special Status
Anonymous Pools of Unregulated Capital
Notes
5. The Wealth Hiding in Your Neighborhood
Tax Haven USA
Art as a Form of Wealth Storage
Luxury Real Estate as Wealth Storage
Money Laundering and Criminal Activity
The Disruptive Impact of Luxury Housing
Notes
6. Smokescreens: The Justifications of the Wealth Defense Industry
We Are Just Obeying the Rules
The Wealth Defense Industry Writes the Rules
The Wealth Defense Industry in New Hampsire Creates a New Ownership Device
Helping Some Families and Wealth Creators
Privary vs. Secrecy
Professional Associates: Spreading the Smokescreen
Clients Demanding Less Aggressive Avoidance
Welcoming the Wealth Defenders to New Roles
Notes
7. Solutions to Wealth Hiding
Pressure Points to Change the System
Changing the Rules: Progress Toward Transparency
A Range of Policy Solutions
Notes
Conclusion: A Time for Bold Action
Epilogue: Grads, Don't Work for the Billionaire Wealth Defense Industry
Reading and Resources
Index
Topics
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AlterLinks
c/o Sources
© 2023.
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