A Haven of Sanity

by Don Boudreaux on December 14, 2008

in Taxes

Cato’s Dan Mitchell does it again in this fine new series of short, entertaining, and informative videos on the virtues — economic and ethical — of tax havens.

The first is The Economic Case for Tax Havens.

Next is The Moral Case for Tax Havens.

Third is Tax Havens: Myth vs. Facts.

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  • Methinks

    Why are you so angry?


    Do we really care? Comedy is comedy. The source is irrelevant, no?


    I'm guessing his beef is that he's a loser and now he's old and alone and needs to take it out on somebody. Unfortunately, he doesn't have anyone in his personal life who cares to talk to him (I'm guessing you can see why), so he comes here to vent. It'll kill him one day, but he'll be plenty amusing until then.

  • Ken

    TrUmPiT,


    Why are you so angry? If you are as old as you hint, then you've seen the world become a dramatically better place to live in and much more generous to the less well off and the less responsible. So what's your beef?


    Ken

  • TrUmPiT

    How's that zimmer frame army shaping up, commander? Got all your oldies armed yet so they can storm the tax havens?-Metried2thinkbutithurt2much.


    I expected nothing less than an ageist comment from you. U2 will grow old one day if you are lucky and the world isn't blown up in a nuclear war. You may even zimmer around in a turbojet walker. All the money that you hoarded over the years won't be enough to save you from turning into dust to be blown over a warming planet. All the taxes that you evaded will be a distant memory except in the thick police file that made up your worthless and forgettable life.


  • Ken

    "It's the policies of Bush and Cheney that are making most people poor or poorer that should be mocked."


    Check your facts. The world (including the US) has been steadily getting richer and healthier over every decade for the last 50 years, including the last eight. Also, the US economy was humming along just fine till 2006-2007. Guess what happened in 2006- that's right, the democrats won majorities in the house and senate.


    "Everything you and I buy for Christmas was likely made in China or somewhere other than the U.S. So the only jobs left for the uneducated class are at McDonalds or some other kind of low paying job."


    Even Joe Stiglitz supports globalization and international trade. And the jobs that are getting shipped overseas are the LOW PAYING jobs in manufacturing, call centers, etc, freeing up labor here in the US to go onto other jobs that are higher paying, such as finance, engineering (of all kinds), medicine (the US produces almost all major developments in this field). In addition to the sciences, by almost any objective measure arts of all kinds are thriving wonderfully in this country, which dominates the rest of the world.




    And you're ignoring the fact that the US imports much of it's poor in the form of immigration. According to the IRS, the people in the bottom quintile of the income distribution saw there income almost double over the course of ten years, enabling them to move out of that bottom quintile. This made room for many immigrants come in and work their way up as has every generation of immigrants into this country. Over the same period of time, those people in top quintile 10 years ago saw their income decline, moving them out of the top quintile. I can't find the link to this study, but I'm sure Don or Russel have it if you ask them for it.


    "I do feel sorry for them."


    I'm glad to see that you feel sorry for them. But you're unwilling to support policies that would help them.


    "Happy Holidays!"


    Thanks for the holiday wishes. I hope you have a Merry Christmas and Happy New Year as well.


    Regards,

    Ken

  • Ken

    "It's the policies of Bush and Cheney that are making most people poor or poorer that should be mocked."


    Check your facts. The world (including the US) has been steadily getting richer and healthier over every decade for the last 50 years, including the last eight. Also, the US economy was humming along just fine till 2006-2007. Guess what happened in 2006- that's right, the democrats won majorities in the house and senate.


    "Everything you and I buy for Christmas was likely made in China or somewhere other than the U.S. So the only jobs left for the uneducated class are at McDonalds or some other kind of low paying job."


    Even Joe Stiglitz supports globalization and international trade. And the jobs that are getting shipped overseas are the LOW PAYING jobs in manufacturing, call centers, etc, freeing up labor here in the US to go onto other jobs that are higher paying, such as finance, engineering (of all kinds), medicine (the US produces almost all major developments in this field). In addition to the sciences, by almost any objective measure arts of all kinds are thriving wonderfully in this country, which dominates the rest of the world.




    And you're ignoring the fact that the US imports much of it's poor in the form of immigration. According to the IRS, the people in the bottom quintile of the income distribution saw there income almost double over the course of ten years, enabling them to move out of that bottom quintile. This made room for many immigrants come in and work their way up as has every generation of immigrants into this country. Over the same period of time, those people in top quintile 10 years ago saw their income decline, moving them out of the top quintile. I can't find the link to this study, but I'm sure Don or Russel have it if you ask them for it.


    "I do feel sorry for them."


    I'm glad to see that you feel sorry for them. But you're unwilling to support policies that would help them.


    "Happy Holidays!"


    Thanks for the holiday wishes. I hope you have a Merry Christmas and Happy New Year as well.


    Regards,

    Ken

  • Methinks`

    take your brainwashed blinders off.


    Do blinders have brains to be washed? What does it say about a person if he thinks they do?


    Although, you get two gold stars for not demanding anyone strip and for using your thesaurus today (antediluvian! very nice). How's that zimmer frame army shaping up, commander? Got all your oldies armed yet so they can storm the tax havens?

  • I once was conservative like you tools are;


    More evidence of your keen intellect.


    I was never conservative.

  • The previous post is mine. Is the 'Remember personal info' checkbox of any use at all?


    Either enter your info at every post, or always use preview.

  • Stiglitz is the most cited economist in the world, as of June 2008. - Wikipedia


    Well, that certainly proves his argument.

    Is that called "bandwagon"?


    I must have touched a nerve there.

    Aren't you the reactionary?

  • TrUmPiT

    Stiglitz is the most cited economist in the world, as of June 2008. - Wikipedia


  • TrUmPiT

    Joseph Stiglitz on the evils of tax havens and bank secrecy, and the corruption of civil society:


    http://www.youtube.com/watch?v=UvpRn5pvglY




    http://www.youtube.com/watch?v=t_a5FIhtZvw
    </p
    >



    You won't get far trying to dissect my contentions, Ken. The truth is out there; take your brainwashed blinders off. I once was conservative like you tools are; but I opened my eyes finally to what was going on. It depends on how old you are, Ken, on whether there is any hope for you. I seriously doubt it from the blather that you spew so incessantly. Take no comfort in the fact that you have company around here. You are known by the company you keep.



  • TrUmPiT

    It's the policies of Bush and Cheney that are making most people poor or poorer that should be mocked. Everything you and I buy for Christmas was likely made in China or somewhere other than the U.S. So the only jobs left for the uneducated class are at McDonalds or some other kind of low paying job. I do feel sorry for them. Happy Holidays!

  • Ken

    Dear TrUmPiT,


    "It seems a bit antediluvian, feudalistic, and even sociopathic to be talking about tax evasion as a good thing in this new Depression age created by the greed of the mega-rich and their political lackeys."


    I don't know what to make of this sentence. Antediluvian means old or antequated. It seems everyone agrees that rasing taxes during a recession or depression will only make things worse. So discussing using tax laws to avoid paying taxes is very relevant. Feudalistic means an economic system based on people being tied to the land, i.e., not being able to use your capital as you see fit, but having to give it up to a fief. This is the very opposite of discussing tax avoidance. Sociopathic means having an antisocial behavior, lacking in a moral sense of social conscience. I can't imagine a more sociopathic idea than raising taxes even higher than they are all ready, when it is clear the most of government 'programs' are pork designed to fleece the public at large to benefit the few.


    Additionally, you forgot that the 'recession' we are in now included quarters with positive economic growth rate. The first time in history the NBER has ever done that. With unemplyment still well below 10%, far below the rates of the 1982 RECESSION, your use of the word DEPRESSION is only rhetorical with no emperics to back it up.


    Lastly, blaming greed for any financial collapse is like blaming gravity for the collapse of the twin towers. Greed is a human constant that stays constant at all times. The difference between different times is the idiocy of politicians, and the useful idiots that support them, that support unsustainable fiscal policies. These same politicians then have the audacity to blame everyone else without any hint of irony.




    " "Bailout" is the operative word of this new economic era of failed predatory, monopolistic corporations that are too big and powerful to be allowed to fail."


    Banks are not monopolies. Ford, GM, and Chrysler are not monopolies. So just what are you talking about? And don't forget that the left is yelling loudest for the bailouts. I bet if you asked Dan Mitchell, he would tell you at least a dozen different reasons for why the bailouts are bad for the country as a whole and the economy specifically. I don't understand how you are trying to tie this man to bailouts, when he was talking about tax havens.


    "A trillion dollars sucked out of the coffers of the American working stiffs and their children and grandchildren is the topic du jour."


    Don't forget the $52 trillion that the lazy and shortsighted are demanding from those same "working stiffs" in the form of social security, medicare, and medicaid payments. Why should anyone be forced, at gun point, to hand over their hard earned money from anyone too cheap to buy insurance (especially when they can buy the latest and greatest iPod or cable with high-speed internet service) and save for their own future?




    "Trickle-down advocates like that dude in a unworthy suit and tie should be forced to get a real job at McDonalds and get his hands dirty in a clean and decent sense. His degrees are not worth the paper they are written on."


    He's not talking about trickle-down. He's talking about people using their own money to invest in the future, instead of having the government take it and piss it away on whatever they feel like. It's not their money, why would they spend it wisely?


    "His facts and data are contrived to prove his theory of pandering to the rich."


    At least he presents some data to back his arguement. What are you presenting? An empty shell of words. You don't even attack his data, you attack him, declaring to everyone else reading your inane post that you have no idea how to counter his claim. You just stamp your feet and call him a poopyhead.


    "He reminds me of Adolf Eichmann. Okay so that's a poor comparison, but Why did an evil Nazi's name pop into my head just now?"


    Because you are a tool.


    Regards,

    Ken

  • Marcus

    "Now off to Mcdonalds for that job interview!"

    -- Posted by: TrUmPiT | Dec 16, 2008 2:57:53 PM


    Observe how the left mock the poor.


  • TrUmPiT

    Btw, it's not so easy to change your name as you think. The government frown on it because people change their name to avoid their debts, evade taxes, hide from the police, assume other identity to swindle them, etc. But in your case, with a dull, boring, old-fashioned name like Sam, the judge will understand why you want to get out from under an oppressive name like that. Change it to Gertrude or Adolf and you'll be fine. Now off to Mcdonalds for that job interview!

  • TrUmPiT

    Btw, I hate the name Sam. Why don't you change it while your looking for the minimum wage job that you qualify for.

  • TrUmPiT

    You are a lazy stooge for the wealthy class Sam Grove. You need to get a job and pay your taxes. Obvious you have too much time on your hands to had to make every insulting comment that pops into your empty head. Your political thinking is as shallow and fetid as a puddle in a gutter.

  • but Why did an evil Nazi's name pop into my head just now?


    Because that's the conversation you've engaged in so often that it has become automatic.


    "If you're not leftist, then you must be a Nazi."


    This is the depth of your political thinking.

  • Marcus

    The previous post is mine. Is the 'Remember personal info' checkbox of any use at all?


  • Anonymous

    "Joseph Stiglitz on the evils of tax haven..."

    -- Posted by: TrUmPiT | Dec 16, 2008 12:06:48 PM


    I can't watch YouTube videos from work so I'll have to wait to watch it at home.


    But let me guess, because he can't hold people hostage to his tax policies?


  • TrUmPiT

    Joseph Stiglitz on the evils of tax haven and bank secrecy, and civil society:


    http://www.youtube.com/watch?v=UvpRn5pvglY




    http://www.youtube.com/watch?v=t_a5FIhtZvw
    </p
    >

    No, you're the uncivil idiot, Nick. Tax havens are evil and if you support them, you are an evil like fascist Bush. You probably are anyway.

  • Nick

    >>but Why did an evil Nazi's name pop into my head just now?<<


    Because you're an idiot.


  • Cliff

    Vidyohs, I think you are quickly forgetting the exhortations of Russell and Don.

  • Leftist's often come across as sociopathic...unless you agree with them, then they are as sweet as Uncle Joe.

  • John Smith

    For the economic illiterate, such as myself, I would rate this as Cafe Hayek the most informative entry for 2008.


    Plus, thanks for the link to “Center for Freedom & Prosperity Foundation's”

  • vidyohs

    "Martin you stole my thunder.

    Posted by: muirgeo | Dec 15, 2008 12:07:55 AM"


    I see you're still good for the laughs, muirduck.


    Only in your wildest self-induced (white powder maybe) hallucinary dreams have you ever had any thunder. And, even then only with the chihuahuas on the front porch.


    On the topics discussed on this blog, you have never been right even once. And, we all know it.

  • Martin Brock

    If you're a doctor, you probably aren't a regular guy. I'm not happy about the incredible payouts to financiers and the corporatist officer class, but tens of millions of pensioners are the ones who'll nickel and dime you to death over the next few decades. The financiers and corporate officers work to impose and then to enforce your obligations to them, and if you aren't one of them yet, you'll have a much tougher time joining the club in coming decades. We aren't actually melting down now. We're freezing up.

  • muirgeo

    "No wonder the global economy is so much stronger today than it was in the nineteen-seventies."




    Martin you stole my thunder.


    Yes lets concentrate more wealth so us regular guys can pay more taxes to support their lifestyles.

  • J

    I'm a fan of the cato institute and think a lot of the anti comments aren't terrible fair. But, I do think that these videos were too willing to stretch the truth at times. A flat tax is only "sweeping the world" in our libertarian dreams, Chavez doesn't deserve to be in that group, the swiss' handling of jewish money wasn't a stunning anti-nazi feat, etc.


    The sad thing is that a lot of good points were made, and these will be even more easily ignored than normal because of spending time on low quality/secondary/controversial arguments. My advice would be combine the three videos into one or two and stick to the strongest points.

  • TrUmPiT

    It seems a bit antediluvian, feudalistic, and even sociopathic to be talking about tax evasion as a good thing in this new Depression age created by the greed of the mega-rich and their political lackeys. "Bailout" is the operative word of this new economic era of failed predatory, monopolistic corporations that are too big and powerful to be allowed to fail. A trillion dollars sucked out of the coffers of the American working stiffs and their children and grandchildren is the topic du jour. Trickle-down advocates like that dude in a unworthy suit and tie should be forced to get a real job at McDonalds and get his hands dirty in a clean and decent sense. His degrees are not worth the paper they are written on. His facts and data are contrived to prove his theory of pandering to the rich. He reminds me of Adolf Eichmann. Okay so that's a poor comparison, but Why did an evil Nazi's name pop into my head just now?

  • Martin Brock

    "No wonder the global economy is so much stronger today than it was in the nineteen-seventies."


    Personally, I'd like to cut taxes on investment to zero regardless of income, but the global economy doesn't look so healthy anymore. Maybe the New Great Depression only a political show concocted to sell a New New Deal, but the salesmanship seems to be working, rhetorically at least, so Dan needs to find some new slogans.


    In case that list of flat tax revolutionaries leading the charge to global freedom and prosperity flashed by too quickly for you, here it is in slow motion.


    Albania, Bulgaria, Czech Republic, Estonia, Georgia, Guernsey, Hong Kong, Iceland, Iraq, Jamaica, Jersey, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Macedonia, Mauritius, Mongolia, Montenegro, Pridnestrovie, Romania, Russia, Slovakia, Ukraine, Trinidad and Tobago


    Hong Kong is still an economic power, albeit a tiny one, and Iceland still looked like one hardly a year ago. Pridnestrovie? Has any other state recognized them yet? Iraq? Give me a break.


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