The Rich Sure Do Cheat On Their Taxes a Lot

A team of researchers has combined disclosures from the Panama Papers with administrative tax data and population records in Scandinavia and finds that “tax evasion rises sharply with wealth.” The rich do this primarily by parking wealth in Switzerland and other tax havens. I don’t think this comes as a surprise to anyone, but the size of the tax evasion might:

Of course, this is just for those infamous scofflaws in Denmark, Sweden, and Norway. American zillionaires are probably a lot more honest, don’t you think?

POSTSCRIPT: Snark aside, personal tax rates are pretty high in Scandinavia—though not as high as urban legend has it. Still, their high rates do provide a bigger incentive to hide wealth overseas, so it’s possible that American tax evasion is lower than it is in Scandinavia. I wouldn’t bet on it, though.

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate