The Economic Case for Tax Havens

[britoca]

how can we avoid overall economic growth to protect our global natural assets?

[msacer15]

you realize the deficit that america faces right?! there is no possible way before 2060 to balance the budget unless you raise revenue! tax cuts when you have a deficit makes NOOOOO SEENNSSSEE. LOOK at the NUMBERS. i know you conservatives hate numbers, but they show the undisputed truth. right now they are arguing over small potatoes cuts (non-defense spending) Its a Big joke! If you conservatives are serious about getting rid of the deficit then raise taxes!

[msacer15]

corporate robot. look at the real numbers with all the tax breaks going to really rich people they end up making more money. 400 of the top paid americans make as much as the bottom 150 million americans. look it up. what this guy is promoting is reditribution of wealth. he will promote all these tax cuts and then when the country is not making enough revenue, he will turn around and blame the poor and cut cut cut all their programs. lol i repeat corporate robot.

[SuperGuitarman69]

Here is an analogy for you leftists out there. You like cartoons and stick figures I noticed so I'll try to dumb this down for you. The government (parasite) finds a business or company that is productive and creating wealth (host). They will suck the blood out of the host, without the host being relatively unaffected. Once the host notices it is being bled dry it attempts to get rid of the parasite. Then it cuts the parasite off and the parasite gets pissed because the host no longer provides!

[Juliazer]

Daniel only quotes those parts of articles that benefit him. This is nowhere near a correct & trustworthy video! Ex: He quotes Philipp Genschel but leaves out important parts and the conclusion of the article: "Tax competition is a constraint on national tax policy... The result is more austerity, more deficit finance, and a less employment-friendly tax mix than would have prevailed in a world without tax competition." How dare Daniel Mitchell use this article to support his opinion?

[SuperGuitarman69]

@Juliazer Tax competition has shown itself in America. The states with the highest taxes are the states the most upside down. When states raise taxes they receive less revenue. This has been crystal clear throughout history. So, the only argument about taxation is low taxes. If you take away tax competition then we cease to be America. Now, I know that's what you leftist want. Taxes locked in. But you will destroy America driving out the last of the business that remains. We will stop you!!

[codelyokoblue]

how can I have my money in a tax haven without getting caught?

[MrSinishaivanovski]

You dont andersoot its not poent abaut the tax, poent is about banc secrety, thet shood stop.

[Thetruthishere11]

Great video.

Think of the money leaving the USA with Obama in charge.

Businesses are protesting his spending and we are paying.

[Thetabiz]

The majority is obviously willing to believe "the God of Government", and that government is correct and that people work for governments, regardless of how abusive some governments become. That compares almost to fascism.

Learning about tax havens is for everyone of benefit, to the tax payer, large and small businessmen and even to the tax inspector.

Thank you for such a great video.

[Thetruthishere11]

his other vids are just as good.

[Thetabiz]

This is great video showing global situations about tax havens. I can only bow myself, as it could not be more clearer explained.

But it is understandable that people without having global view on the economy, cannot grasp why tax havens are actually useful.

Most important is that small and large business entrepreneurs do understand that, as the practical results and benefits of tax havens largely help them, and not the majority of the population.

[hoodoo961]

We don't pay taxes to foreign banks. Are you referring to interest payments on T bills held by foreign central banks? Because that interest is paid regardless, it doesn't matter who buys the debt.

[afferch]

Propaganda for the global capatalists who don't want to pay taxes. They don't want to face the laws and regulation. You and I face everyday to control us and keep us honest.

[scronx]

This is mostly an argument for the existence of tax havens. I doubt if anybody viewing doubts it?

[NorfolkCatKickers]

why tax havens are good for the economys -hm there not.

Its up to the freedom of a country or countries who the declare fiscal protectionism against anyway if a bunch of rich wankers left the county of birth which helped provide them with education and health and there to stingy to pay it back its fair.

Maybe the global economy is stronger today than 30 years all because of low tax's hmm or it could be because improvements in a thing called technology like magical smart boxes called computers

[floating00eye]

well put...surprisingly, the video also neglects to mention that the real wages of average workers have stagnated since the 1980s. But as long as the rich are paying less taxes, then surely we are moving in the right direction.

[Tantoin]

The OECD in league with the UN and IMF are how the Antichrist one world Marxist government are quickly being implemented, and no country will be able to buy or sell unless they bown down and worship the one world government and all its dictates, blackmails/blacklists. All countries who have any guts to fight the one world Marxist dictator government and keep their sovereignty MUST return to systems of barter for their trade to avoid OECD currencies which they will be blacklisted from.

[Tantoin]

... The OECD blacklisting will effectively shut down any non obeying country which bases itself on any currency or banking system to

receive income from abroad or trade abroad. All countries who comply will become slaves to worship the dictates of the OECD, UN, IMF one world government. All who wish to have a chance to escape this must move to select 3rd world countries, return to small farming, water well drilling, and barter. There is no way to be free in the future unless you bow to the UN.

[jakehujar24]

Do you think Nations like the United Kingdom will tell their federacy's like Bermuda to stop operations, even if they are producing substantial amount of capital for the U.K? all the money invested in Bermuda reflects positively for the U.K currency, and overall economy. also the OECD has failed in the harmful tax practice project, because of the reasons stated above, major nations that are gaining from their federacy's being tax havens will protect their economic policies.

[jakehujar24]

His entire premise is that tax havens keep other nations in check, however he neglects to talk about is that tax havens are kryptonit of a legitimate locality. Locality's like New York city are able to acquire there schools, roads and general infrastructure off the taxes from there people and businesses. With tax income being siphoned by the tax havens it is a regressive system that will eventually collapse. In conclusion tax havens are a corruption of the MPF system, and this guy is an idiot!!

[irishimp2]

After five years and millions of dollars fighting the Internal Revenue System over the repatriation of funds kept overseas, and paying the 71percent taxes on every dollar, I am pleased the government finally gave up the fight!

When Ronald Reagan lowered the top tax rate to 28 percent it is estimated that 350 Billion (1983-5 dollars mind you) flowed back into the Treasury! I say bugger those idiots who are too stupid to realize that lower taxes mean more incentive to remain in this country!

[Kenmoron]

what you are forgetting is that regulatory leakage is bad. No system can work if it suffers under leakage. Shut down leakage and the best system will attract capital. We can not make claims on what is the best system if each suffers under leakage.

Maybe high tax rates create a better worker and maybe not. We will find out if we shut down regulatory leakage.

[Notyourtypicalracist]

Poor Dan you want to make tax evasion legal so you dont have to pay taxes but the poor will pay taxes.

Tax havens only fuck with the low class,

[ThuggLyfe]

The "rich" already pay nearly 90% of the taxation that provides government services for the poor. Gouge them too much and they'll leave for freer economies, leaving the tax recipients with nobody to tax to support all the lavish subsidies and services they expect.

[Kenmoron]

oh yeah because we know that these tax havens produce societies we want to live. Look at the list and tell me that these are great societies. Watch them fall on their face and a recession smashes their faces. Why is it that so many good are only produced in high tax nations? Could it be that high tax nations produce workers that companies actually need? Could it be that the way to create a stable society is tempering personal freedom with regulation and taxes?

[1978RDC21]

OK, you pay your money to educate the world and i'll live better for it. If you want to sacrifice yourself on the altar of taxation that's fine, but don't make me.

We all know that some taxes are needed to keep us free. but we also know that gov't.s don't spend money efficiently.

[1978RDC21]

gee, that almost sounds like Atlas Shrugged.

How long do you think 30% of the people will pull the wagon the other 70% are riding in?

[britoca]

@ThuggLyfe exactly, and that's why a flat-tax worldwide would solve the problem

[abadplanner]

Tax Justice Network rules. Tax havens are crooked places.

[Ivoryshoulder]

Is the Vatican City a tax haven?

[yuribcnx]

Quote "No wonder the global economy is so much stronger today than in the 1970s".

How does THAT sound today. LOL!

[Kenmoron]

yeah all these tax havens like iceland proved their worth. LOL

[Scoforever]

Iceland isn't a tax haven. It has a flat tax of 37.5%.

[QuashedByWatermelons]

Dear CeltaVigo1916

Tax competition meant tax rates have come down. Governments hate this--they want to bribe us at election time with our own money (collected as tax). Handouts haven't stopped poverty, despite all the promises and envy-mongering of politicians, but just enlarge bureaucracies and their control over our lives. I'd rather see lower taxes from tax competition than having to rely on subsidies from hypocritical, corrupt and fickle politicians who promise all, deliver little.

[irishimp2]

Yes. Isn't it funny how over one Trillion Dollars spent on Poverty has not done anything for the poor but allow them to have two televisions, an x-box, and more food in their refrigerator than my parent's had during the entirety of their earlier years of marriage! When my mother starved herself so her two small girls could have something to eat! The best I ever heard was, "But the poor have no coal for the furnace! - Yes but the poor could not afford the furnace for the coal to begin with..."

[CeltaVigo1916]

@QuashedByWatermelons what are you talking about? lower taxes in one country means higher taxes in another. it's simple math. Tackling government corruption is a completely separate issue. Havens are used by the lazy rich to become very rich and the very rich to become filthy rich. Nobody is making sense here. 

[SuperGuitarman69]

@CeltaVigo1916 Tax havens is morally correct. Taxes by their very nature is theft. One is born into a system of servitude. Left to their own devices people would buy and sell to meet their needs in a win win environment. Government by it's very nature, once it abandons laws to protect citizens personal property and lives, are corrupt to their core. You as many have been programmed to believe that taxes help the poor. They do NOT. That is the flaw in the leftist limited brain capacity.

[CeltaVigo1916]

@SuperGuitarman69 Yeah, of course you're right. Taxes by their very nature is theft. We should never have had taxes. That way we would have never have been able to pay the judges to bring about common law in England in the 18 hundreds which led to our current legal system which doesn't allow us to bash idiots like yourself over the head with a baseball bat. You're obviously minted (and stupid but that's beside the point). Go look at a film like the Inside Job, or read some paper.

[CeltaVigo1916]

@SuperGuitarman69 I'd recommend "Organisations and Oligarchy" by Robert Michels (1913), I'd be fairly surprised if you had the intelligence to actually get through it and understand what he's saying though.

[CeltaVigo1916]

@SuperGuitarman69 sorry supergran - that last post was supposed to be for QuashedByWatermelons

[CeltaVigo1916]

@CeltaVigo1916 yo dimwit. last two posts are for you.

[CeltaVigo1916]

what is happening here? we have guys complaining about paying too much for porches? Are there any normal people looking at this video, we can barely afford our creche fees? Part of the reason for the current crises is these tax havens.

[Notyourtypicalracist]

The only ones who can use tax havens are upper class high earners, which will make the goverment have to raise the taxes on the lower class.

Great Idea !

[1978RDC21]

on the lower class? almost 50% of income earners in the U.S. pay $0 in income taxes, and about 20% of income earners actually have a net gain from the current system of taxation.

Everyone always says I don't care if we raise taxes, just don't raise my taxes.

[1775eddie]

Thanks for spreading the word, good video, great presentation and much needed content!

Cheers,

Eddie

[amitp2]

Why should we protest together so that our taxes are cut as well.

Why force corporations to pay?

[JesseKantstopolis]

This is a great video. But does Cato really advocate sound money?

[Brdskipper]

Another great piece Dan... I love the primary tax havens, especially the ones that are good for SCUBA diving, too!  You're one of my favorite economists and a pretty good outfielder, too!

[b1ueocean]

Brazil just declared Delaware a tax haven!

[caymanman]

ha...there's a building 120,000 companies in ti...FACT

[owchywawa]

And this is why a one world government will not work for you.

[richard7STI]

-What about Norway?

[Matiashs]

Norway is not a tax haven, trust me, I've live here all of my life. But sadly, it's a extremely strong culture of protectionism here.

[richard7STI]

Sorry that is what i ment!!!!

paying nearly 4 times as much for a ex; Porsche turbo in the states;)

-the best country in the world to be a car geek -NOT!

[swidd2]

3000 views. Great video, but with so few views its not worth the cost of your video camera :)

[PotVsKtl]

This is the biggest crock of intentionally misleading bullshit I have ever seen.

[blue222blue]

Did you catch the quote at the end of the piece? I think, PotvsKtl, that you're angry at the idea of members of government being less able to reward themselves and their supporters and special interest groups.

Pardon me for not sharing your zeal for taking other people's money for yourself.

If I'm wrong, kindly tell us why you responded with invective.

[NSResponder]

I notice that you make no attempt to actually refute anything that Mr. Mitchell says in this video. He made a good case, and you didn't. Better luck next time.

-jcr

[PotVsKtl]

Refuting such blatantly false propaganda is an exercise in futility.

[NSResponder]

You don't have a leg to stand on, so you're just huffing and puffng.

-jcr

[OAPanama]

I couldn't have said it better myself!

[spudthrasher]

Ah yes Maggie Thatcher, the bastion of protecting people from tax. Poll tax anyone?

[volition22]

great work

[Kabukihomewood]

clear, effective, excellent. Thank you!

[BDizzle66]

Who is this guy?

[wildbill1911A1]

Nicely done!