How Much Wealth Are You Holding in the World?

In an ideal situation, you'd have multi-nationals that are making profits and paying proper taxes on their profits. But there's a whole international architecture of tax rules,. set up under the League of Nations in the 1910s, 1920s. And those rules are very heavily skewed towards the richer countries. The US will tend to get, I don't know what the average effective tax rate is on the US multinationals, probably about 15%. So but effectively these companies pay very, very little amounts of tax in other countries where they are based.