Wall Street Economy

By | October 29, 2014

Tax havens have become a relieved scapegoat. Deregulation and opacity of these countries has allowed that dark or fraudulent, financial operations are carried out to tell us. But where the instigators of these operations feel? In the Cayman Islands or the Wall Street and London stock exchanges? And where came from sub-prime, the Seychelles or United States? Clear proof that raw material the fundraising effort on moral criteria is that various Governments, including the French, German or Spanish, allow parallel resident companies in tax havens to buy public debt paying less tax than national citizens themselves and may also acquire it without disclosing their identity. Meaning that the black money (supposedly coming from drug trafficking or the financing of terrorism) suddenly turns white when we reinvest in our own economy. The authorities want to end tax evasion and to the extent possible, also with her sister legal, tax evasion. This is to take advantage of gaps legal and differences between the laws of the countries, to reduce the tax burden. Again in this fight, legitimate unless it be in tax evasion, circumvention may be morally, but not legally debatable – is flown the flag of social justice.

Tax evasion causes that fewer resources have to serve the needy, to invest in health, protection of unemployed persons, etc. While this is true, the same Governments that use these arguments to justify the fight against tax havens, enthusiastically applaud the process of globalization of the economy. They preach us how harmful that is protectionism and the many advantages that brings us all the liberalisation of the economy in terms of prosperity. Nobody seems to care much that minor children and an army of poor deslomen from sunrise to sunset in the third world to send containers and containers of cheap clothes, electronic goods and all sorts of trinkets that we don’t need.


Comments are closed.