The argument that America ca n't afford to transition from fossil fuels to clean energy has been debunked by the publication of The Panama Papers , which revealed the extent of money being siphoned off by the ' global elite ' . At least $150 billion dollars a year of American taxes aren't paid by the ultra wealthy. The Tax Justice Network estimates that the rich have more than $ 21tr of tax - free money offshore , with the ultra wealthy in America having at least $ 150bn in 2010 . Using a proportion of these funds would enable the transition to 50 % clean and renewable energy by 2030 and 100 % by 2020 .
The argument that America ca n't afford to transition from fossil fuels to clean energy has been debunked by the publication of The Panama Papers , which revealed the extent of money being siphoned off by the ' global elite ' . The Tax Justice Network estimates that the rich have more than $ 21tr of tax - free money offshore , with the ultra wealthy in America having at least $ 150bn in 2010 . Using a proportion of these funds would enable the transition to 50 % clean and renewable energy by 2030 and 100 % by 2020 .