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A lot of — maybe most — people have sort of a vague notion that the super wealthy are able squirrel away a lot of their wealth and income overseas so as to avoid paying their fair share of taxes. But, as this article reports, the size and scope of the practice has truly reached an astounding level.

“A new report by the Tax Justice Network released Sunday reveals that between $21 trillion and $31 trillion is currently tucked away in global tax havens by the global super-rich–an amount that far exceeds previous estimates. Through exploiting gaps in global tax rules, the global financial elite are managing to hide ‘as much as the American and Japanese GDPs put together’ from taxation, leaving the world’s poor to carry the burden of global debt through harsh austerity measures.”

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In case you had any doubt that it helps a lot in modern American politics to be rich — I mean really rich — consider the case of two former candidates for President who have or will stand before banks of TV cameras in Greensboro, North Carolina this week.

One is a rich, dishonest and narcissistic adulterer with expensive hair. The other is…a rich, dishonest and narcissistic adulterer with expensive hair.

Here’s the big difference between the two (other than their politics — a place where one of the two has actually expressed concern for the less fortunate at times during his life): One guy is pretty rich and the other guy is REALLY rich.

Now, guess which one just missed going to jail by the skin of his teeth and which one will be treated like royality while serving as the keynote speaker of the North Carolina Republican Party convention.

See what I mean about the importance of being REALLY rich?

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This is Mitt Romney’s statement from this morning’s appearance on CNN:

I’m in this race because I care about Americans. I’m not concerned about the very poor.  We have a safety net there.  If it needs repair, I’ll fix it. I’m not concerned about the very rich. They’re doing just fine.  I’m concerned about the very heart of the America, the 90, 95 percent of Americans who right now are struggling and I’ll continue to take that message across the nation.

Got that? Think about what this means (and what it says about this poor man’s distorted understanding of our country — “poor” as in “pitiful” that is).

According to the U.S. Census, a tenth of the population lived in households with annual incomes Read More