No. It's not a stretch at all. The only difference is scale.
The more billions, or "trillions" I guess, that get pigged up into the offshore accounts of a handful of individuals, the less there is to go around. Unfortunately, here in the USA we have not only codified such pointless behavior, we encourage it and admire the pigs who do it. Some of us even wanted to elect one to the Whitehouse, believe it or not.
Give them more tax cuts or wage "flexibility", Pete, and all you're doing is giving them more money to squirrel away. They no longer give a shit about us, because we told them not to and some of us even admire their selfish greed. Sadly, I fear we have become a very stupid, self defeating society.
Dave