….it’s not possible to impose the monopoly vision upon them, is it?
The focus of most tax authorities was on the scale of the tax losses that they might generate, but in terms of their political economic impact, their consequence was much bigger. John Christensen and I suggested, right from the beginning of the time that we worked together in 2003, that the real function of tax havens was to act as the launchpad for an assault on democracy.
The underlying logic of this claim has always been quite straightforward. Those who hate representative government subscribe to the simple logic that if only they can starve democracies of the revenue that they require to fulfil their mandates then they can undermine the whole social contract that is the foundation of the democratic promise created by the universal electoral suffrage that has only really been commonplace from the 1930s onwards. Tax havens are a way to deny them that revenue.
That you call the monopoly vision democracy doesn’t change that it is a monopoly vision. Which is why choices must be denied, of course.
This is a monomaniac’s fantasy though. Take the Isle of Man for example.
In 1961, the Island was facing a bleak future with the decline of tourism because their traditional holiday visitors from Liverpool, Manchester and West of England were choosing more guaranteed sunshine in Europe rather than the delights of Douglas promenade.
To stimulate the island’s economy the Manx government abolished surtax. If that isn’t “Democracy”, I don’t know what is.
Soon, rich new residents started to move here, and with them came lawyers, accountants and insurance specialists sensing an opportunity to make money. House building started to take off and a new era in Manx history was born.
Despite some ups-and-downs (such as bank failures in the 1980’s), the island remains relatively low tax (no capital gains, inheritance tax or stamp duty) and income tax rates are about half what they are in the UK.
Still the island has low unemployment and robust economic health, even despite unilateral changes to the “common purse agreement” by the UK which have impacted the Manx government finances.
No wonder Spud hates the place and wants to see it taken over by the UK Government (which is a rather colonialist attitude from a leftie).
Does he mean that Rotherham is a tax haven?
O/T,
“Mr Milei’s proposals include slashing government spending on politicians, including benefits such as private jets.
He would also cut federally-provided perks for politicians convicted of corruption a second time, he said.”
No House of Lords for them then.
https://www.telegraph.co.uk/world-news/2024/03/02/javier-milei-argentina-speech-media-news-congress-economy/
Is he going to renouncehis Irish pssport?
So, let me get this straight…
Nazi Germany happened because of tax havens?
Those who hate representative government […wish to…] starve democracies of the revenue that they require to fulfil their mandates.
Since low tax payers are able to vote for high taxing governments from which they benefit disproportionately it’s natural enough that high tax payers should take steps to avoid Capt. Potato’s milking parlour.
So what’s the rational of trying to starve China of revenue?
“ He would also cut federally-provided perks for politicians convicted of corruption a second time, he said.””
Damn those populists and their attacks on the state. How are honest to God politicians going to make a living if they’re going to be held to account if they get convicted for corruption a second time?
It is a little odd that he never seems to care about the effects on the people who have the misfortune of being born in places such as Ireland, Jersey, Virgin Islands, or the Luxembourg of the saintly Juncker, of banning and outlawing tax havens