"Oxfam estimates that just 1 percent of the world’s population will own more than 50 percent of the world’s wealth by 2016."

The Secretive World of Tax-Avoidance Experts


Wed, Oct 28th, 2015 11:00 by capnasty NEWS

Citing the "world of tax-avoidance experts" as one of the reasons for the world's socio-economic inequality, a sociologist became a wealth manager for the ultra-rich in order to understand how this disparity is created. A fascinating look into a secretive world that strives to "keep a low profile, both for themselves and their clients."

Given the little that is known about the profession and its role in global inequality, it seemed imperative to learn more about how wealth managers pull off this sleight of hand: Without breaking any laws (for the most part), they enable their clients to sidestep many laws and policies—especially those designed to prevent the kind of neo-feudal concentrations of wealth emerging now. But like many elites, professional and otherwise, wealth managers are not well-disposed to answering questions from impertinent social scientists. Particularly those suspected of harboring what the gentleman I interviewed in the British Virgin Islands called a “left-leaning” agenda. So a traditional research strategy—cold-call to request interviews, or send out a survey—seemed doomed to failure.



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