On April 12, 2014, The Huffington Post published two reports: The Distribution of US Wealth, Capital Income and Returns Since 1913 at http://gabriel-zucman.eu/files/SaezZucman2014Slides.pdf and The Missing Wealth of Nations: Are Europe and The U.s. Net Debtors or Net Creditors? at http://gabriel-zucman.eu/files/Zucman2013QJE.pdf.
According to the two The Huffington Post, the new pair of reports suggests that the super rich are richer than we thought.
The first report by Professors Emmanuel Saez (UC Berkeley) and Gabriel Zucman (LSE and UC Berkeley) addresses the question of how to measure total wealth, finding that there is an increasing concentration in the top one-thousandth.
So where is all this wealth going? The second report, by Zucman, demonstrates that a lot of the money is held in offshore tax havens — far more than previously known.New York Times columnist Paul Krugman summed up the numbers Friday, arguing that they tell us “something important about how the world really works.”
“At the commanding heights of the US economy, hiding a lot of one’s wealth offshore is probably the norm, not the exception,” Krugman wrote.
http://www.huffingtonpost.com/2014/04/12/super-rich-richer_n_5138753.html
