The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions

Product Description
For decades, a secret army of tax attorneys, accountants and wealth managers has been developing into the shadowy Wealth Defence Industry. These ‘agents of inequality’ are paid millions to hide trillions for the richest 0.01%. \nIn this book, inequality expert Chuck Collins, who himself inherited a fortune, interviews the leading players and gives a unique insider account of how this industry is doing everything it can to create and entrench hereditary dynasties of wealth and power. He exposes the inner workings of these “agents of inequality”, showing how they deploy anonymous shell companies, family offices, offshore accounts, opaque trusts, and sham transactions to ensure the world’s richest pay next to no tax. He ends by outlining a robust set of policies that democratic nations can implement to shut down the Wealth Defence Industry for good. \nThis shocking exposé of the insidious machinery of inequality is essential reading for anyone wanting the inside story of our age of plutocratic plunder and stashed cash.
Review
“It is no great surprise anymore that we are facing the greatest crisis in income and wealth inequality that we have seen since the 1920s. What is shocking is the sprawling system of corruption that the ultra-rich have designed in order to hoard their unimaginable wealth at the expense of everyone else. Chuck's book reveals not only the inner workings of this elaborate scheme to hide more than $20 trillion in wealth, it offers us a blueprint for reversing this obscene inequality so we can take back our democracy and ensure that our government works for everybody―not just the billionaire class and wealthy campaign contributors.”Senator Bernie Sanders
“This book, a primer to the secrets of the money river, is an essential reformers’ handbook for navigating these dangerous times now facing us – and future generations.”Nicholas Shaxson, author, The Finance Curse and Treasure Islands
"Skillfully blends personal narrative with social scientific research to create unique insights into a world of privilege that is ordinarily out of sight and out of mind for the rest of us."Brooke Harrington, Professor of Sociology at Dartmouth College. Author, Capital without Borders: Wealth Managers and the One Percent
“The Wealth Hoarders reveals that a whole parallel world exists in which the rich and powerful enjoy the freedom to avoid not just taxes but all kinds of laws they find inconvenient. Accepting the existence this parallel world means putting democracy at risk.”Frederik Obermaier, author of The Panama Papers: Breaking the Story of How the Rich and Powerful Hide Their Money
“This vital and expertly written book reveals the epic scale of theft occurring legally and in plain sight. Theft that destroys public services, removes access to housing and for which the poorest pay the highest price. The authors reveal how the fountain of wealth gushes ever upwards, we are all paying the price, some of us with our lives, as the wealth defence industry siphons off trillions. Chuck Collins is tireless in his determination to uncover the vicissitudes of the extremely wealthy. If you aren't already angry about inequality, then read this book. If you aren't angry enough to take action by the end of it, then you either work in the WDI or you are one of the 0.1 per cent.”Dr. Wanda Wyporska, Executive Director, The Equality Trust, UK
“Chuck Collins shines a light on the powerful and pervasive “Wealth Defense Industry,” showcasing what it is and how it is entrenched in the ‘ecosystems’ that perpetuate the growing and harmful inequality of our time, and that the COVID19 pandemic has further unveiled. Collins brings his exceptional research, insights and experience to this informative piece that not only underscores the urgency for real systemic reform to reverse what can be an avoidable race-to-the-bottom, but helps unpack key leverage points for real change.”Abby Maxman, President and CEO Oxfam Americ