More Wealth More Hiding

A recent study has quantified the correlation of increased wealth with increased tax avoidance. The general population avoids about 2% of the taxes they owe. The richest 0.01% avoid about 30% of their taxes. They also control about 50% of the wealth. As wealth and income inequality increase, so does the potential for tax avoidance, and therefore the potential for governments to be underfunded. Because governments can only operate at a deficit for a finite time, the inequality necessarily increases governmental and societal instability to dangerous levels.

“Super-Rich Evade On Average Nearly Third Of Their Due Tax” – The Guardian