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The Wealth Hoarders
Book

The Wealth Hoarders

How Billionaires Pay Millions to Hide Trillions​

Chuck Collins
Polity Press, 2021

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Editorial Rating

8

Qualities

  • Eye Opening
  • Bold
  • Hot Topic

Recommendation

Chuck Collins pulls few punches in this harsh takedown of tax-dodging rich people and the experts who help them do it. Collins paints the “Wealth Defense Industry” as a villain and an enemy of economic fairness and meritocracy. He takes a whirlwind tour of the world’s tax havens – places like the Cayman Islands and Bermuda, but also Switzerland and the state of Delaware – to describe the siphoning of wealth away from the masses and toward the greedy. Born into inherited wealth himself, Collins offers remedies that might tilt the economic playing field in a different direction. 

Take-Aways

  • The “Wealth Defense Industry” (WDI) helps the rich hang on to their money.
  • The WDI relies on a web of connected service providers.
  • The WDI fosters the rise of wealth dynasties.

About the Author

Chuck Collins is a senior scholar at the Institute for Policy Studies in Washington, DC, where he directs the Program on Inequality and the Common Good.  His previous books include Born on Third Base: A One Percenter Makes the Case for Tackling Inequality and, with Bill Gates Sr., Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes.

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