Offshore Banking and Tax Havens Have Become Heart of Global Economy

Democracy Now by Amy Goodman | Apr. 15, 2011 (News Report)

As millions of Americans prepare to file their income taxes ahead of Monday's deadline, we look at how corporations and the wealthy use offshore banks and tax havens to avoid paying taxes and other governmental regulations. "Tax havens have grown so fast in the era of globalization since the 1970s that they have become at the heart of the global economy and are absolutely huge," says our guest, British journalist Nicholas Shaxson. "Anywhere between $10 ... Full Story »

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4.7

by Bob Herrschaft - Apr. 16, 2011

Absolutely fascinating! ,,,a detailed account of how "offshoring" sucks the life out of, not only the tax base here in the U.S., but also in developing countries around the world.

One of my central arguments is this is so much bigger and so much badder than almost anybody knows. We need to—as a first step for reform, we need to understand that and ... More »

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4.7

by Dwight Rousu - Apr. 15, 2011

Dwight posted this story.

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4.2

by Randy Morrow - Apr. 16, 2011

I mean, there are 10—anywhere between 10 and 20 trillion U.S. dollars sitting offshore at the moment. Half of world trade is processed in one way or another through tax ... More »

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