The Moral High Ground of Tax Havens — Very funny.
You know about the grand financial centers, such as the Grand Cayman Islands, where corporations far outnumber the population. Here is a glowing defense of such tax havens. I like Sen. Byron Dorgan’s idea that corporations that choose to incorporate in Bermuda should expect the Bermudan Navy to bear the burden of protecting their interests.
Mitchell, Daniel J. 2006. “The Moral Defense of Tax Havens.” Notes from FEE (Foundation for Economic Education) (July).
He beings: “My job this evening is to present a moral defense of
“We, as advocates of the free market, argue that tax havens put pressure on governments to lower marginal tax rates, reduce or eliminate double taxation of savings and investment, and stimulate continuous economic growth. But I would go one step further. In the grand scheme of things, the issue of tax havens involves much more than tax competition alone. It involves a moral imperative. Whether providing a refuge from government incompetence and corruption or from persecution and oppression, tax havens play a critical role in protecting life, liberty, and property.”