Friday, November 20, 2009

The endless reach of the state

Writes Michael Rozeff:
Capital flight is a significant method of eluding the reach of the state and its oppressive regulations and taxes. Money can go anywhere on earth. The U.S. and other states want to close down this escape hatch. If one or a few states that operate tax havens or respect financial privacy do not cooperate, then the U.S. and other states look for ways to break them down.
They've done this to Switzerland and are doing it to all other states where wealth attempts to hide. The rationale is, some people - the very rich - are evading taxes, and this isn't fair. But unless you believe in double standards, cheating a thief is perfectly ethical. The assault on tax havens means less capital will be available for investment worldwide as money literally goes underground. As Rozeff notes, this "is a victory for proto–world government."

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