More than four years ago, as part of my efforts to promote and protect tax competition, fiscal sovereignty, and financial privacy, I narrated this video explaining the economic benefits of so-called tax havens.
Pay close attention at the 1:07 mark.
Yes, you heard right. A former bureaucrat from the European Bank for Reconstruction and Development actually called for the forcible annexation of low-tax jurisdictions, writing in the Financial Times that, “Jersey, Guernsey and the Isle of Man should simply be absorbed lock, stock and barrel into the UK…Andorra, Monaco and Liechtenstein should be given the choice of ending bank secrecy or facing annexation.”
He wasn’t quite so belligerent about Switzerland, perhaps because all able-bodied male citizens have fully automatic assault weapons in their homes. But he did urge financial protectionism against the land of chocolate, yodeling, and watches.
What a bizarre attitude. It’s apparently okay for certain countries to persecute – or even kill – ethnic minorities, religious minorities, political dissidents, homosexuals, and other segments of their populations. Very rarely do people like Mr. Buiter call for annexation or sanctions against such loathsome regimes.
But if a nation has low taxes and a strong human rights policy on financial privacy, then cry havoc and let slip the dogs of war.
It turns out Buiter isn’t the only one to have strange militaristic impulses.
Here are excerpts from an article posted at The Street, written by a statist who says that “tax havens” don’t have enough military force to resist high-tax nations.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 29th, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 27th, 2014 | John Ransom