Trillions in Hidden Treasure
$7.6 trillion, twice the GDP of Germany. This total grew by roughly 25% over the past five years, and, without inernational coordination, it will only continue to grow. The benefits of cooperation are clear: taxing the uncovered assets at current rates would generate nearly $200 billion annually, new revenue that could be applied to countering inequality and climate change. The transnational flow of money demands transnational regulation.