Use of Tax Havens May Put Romney in .0001 Percent

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ISLA PERRO, SAN BLAS ARCHIPELAGO, PANAMA - MAY 21:  A hammock hangs from two palms  on Isla Perro on May 21, 2009 in San Blas Archipelago, Panama. The picture perfect Caribbean islands of San Blas are part of an autonomous region of Panama, inhabited and ruled by the indigenous Kuna population. The Kuna have resisted external land development. At present under half of the near 400 islands are inhabited and tourism within the region is strictly monitored, ensuring that the natural beauty of the area remains unaffected.  (Photo by Nina Raingold/Getty Images)
Photo: Nina Raingold/2009 Nina Raingold

Previous estimates suggested about $11.5 trillion is kept in tax havens, far from the clutches of account holders' governments; however, a new report from the Tax Justice Network puts the figure at $21 trillion to $32 trillion. The report's author estimates that $9.8 trillion, or roughly a third of all the money stashed in offshore accounts, is owned by just 92,000 people, or .0001 percent of the world's population. Apparently Mitt Romney doesn't think being associated with a group that's more exclusive than the 1 percent will help his campaign.