In praise of tax havens

Start with the view of, say, Deepak Lal.

All governments are, to a greater or lesser degree, predatory elites. They install themselves in power and then feed off the production of the populace.

Britain, France, Germany and a string of leading world economies have pledged to get tough with tax havens, adding more to a black list and drawing up punitive measures for uncooperative countries.

StephenTimms, Financial Secretary to the Treasury, representing Britain at a gathering to discuss the issue in Paris, said the meeting sent "a very strong signal that time is up for people not paying their taxes".

Mr Timms said Britain would next year repeat an operation conducted in 2006, when it demanded the country\’s top five banks provide information on their offshore accounts. "We gave people the opportunity to disclose offshore holdings and have so far taken in £400m worth of tax that otherwise would have gone unpaid," he said.

Tax havens are thus a benefit to all in that populace. For it is indeed true that some capital, some income and some labour is mobile. If the deal on offer by that predatory elite isn\’t worth it, if the demands in taxation are too great for the services offered in return are too high, then some can indeed bugger off and escape that predation.

This limits the demands upon all for tribute to those in power: a rational despot will be revenue/power maximising, and will limit demands so as to garner the maximum of both.

Thus the existence of tax havens lowers tax rates for us all.

Hurrah!

15 thoughts on “In praise of tax havens”

  1. One day public support for tax havens will be illegal, along with the denial of man made global warming and the rubbishing of socialism. Come the revolution, Mr Worstall, people like you will be up against the wall and brought down with bullets paid for by upstanding taxpayers.

  2. After my revolution, public executions won’t be paid for out of general taxation. The cost will be covered by entrance tickets, TV rights, rents collected from hot dog vendors etc. So at least my revolution will be self-financing!

  3. “After my revolution, public executions won’t be paid for out of general taxation. The cost will be covered by entrance tickets, TV rights, rents collected from hot dog vendors etc. So at least my revolution will be self-financing!”

    Profit! That’s all you libertarians ever think about.

  4. The Tax Justice Network and other irritating organisations essentially believe that people do not own wealth or property; they are owned by the collective. So in their eyes, if say, an entrepreneur emigrates from France to live in a lowert-tax place such as Switzerland, he is defying the wishes of his fellow French electors to seize his wealth.

    Ultimately, the desire to create a tax cartel is a desire to enforce socialism on a global scale. As long as tax competition exists, that goal is off the charts.

    Dan Mitchell of the Cato Institute has just written a fine book on this issue. No doubt fuckwits like the real Mr Richard Murphy will ignore it or smear it. There are not enough lamposts to hang these people from.

  5. “Profit! That’s all you libertarians ever think about.”

    Not at all. We are also passionate about people retaining the freedom to shoot tyrants.

  6. Richard Murphy if some people in the private sector did not do some worthwhile ‘work’ and produce profit, where in the name of flying FUCK do you think the money would come from to pay for Gordons client state? You clueless fucking wanker.

    And please do be offended by that, it was intended that way. I want you to know how very much I hate you! 🙂

    And mention of revolution while the ‘glorious’ soclialists are in charge is exactly what we need.

    Come our glorious revolution you will be first against the wall. I wouldn’t waste a bullet on you though, a bamboo plant or three in each orifice would be cheaper and more satisfying.

    Tim adds: Do note that the Richard Murphy above is not actually the Richard Murphy of the TJN.

  7. “Mr Timms said Britain would next year repeat an operation conducted in 2006, when it demanded the country’s top five banks provide information on their offshore accounts.”

    Yesterday, while standing outside RBS International in my little tax haven thanks to a fire alarm, it was pointed out that since the gov.uk now part-owns these banks, this information is going to be a lot easier to get hold of, isn’t it? If not now, then soon. Gov.uk has never seemed afraid to exempt itself from the rules!

  8. If the OECD Tax Cartel (backed up by the UN and EU) gets its way, every banking transaction will be skimmed by,say, 5% and then it doesn’t matter where you keep your money. They’ll get it in the end. It’s theirs after all!

  9. If people start keeping money under their mattresses you can be sure Gordon Brown will outlaw the ownership of beds or at least require you to present a passport and have your mattress registered on a database.

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