Nicholas Shaxson: "Treasure Islands: Uncovering the Damage of Offshore Banking & Tax Havens. 1 of 2

[democracy1st]

Run time: 14:30 https://www.youtube.com/watch?v=F527LbW84hA   Posted on YouTube: April 15, 2011 By YouTube Member: mediagrrl9 Views on YouTube: 143   Posted on DU: April 16, 2011 By DU Member: democracy1st Views on DU: 1234

 
As millions of Americans prepare to file their income taxes ahead of Monday's deadline, Democracy Now! interviews British journalist Nicholas Shaxson on how corporations and the wealthy use offshore banks and tax havens to avoid paying taxes and other governmental regulations. "Tax havens have grown so fast in the era of globalization since the 1970s that they have become at the heart of the global economy and are absolutely huge," Shaxson says. "Anywhere between $10 trillion and $20 trillion are sitting offshore. Half the world trade is processed in one way or another through tax havens." Shaxson is the author of the new book, "Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens."

Watch Part 2: http://www.youtube.com/watch?v=31e0LWPGPo0

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[DCKit]

1. A sweet target if we want to pay off the national debts of the US, the EU...

and our other trading partners.

What's holding 'em back?

[ProgressiveProfessor]

2. Tax Laws

Most of the so called loopholes were put there by well meaning people, but using tax laws as a form of social engineering is clearly a failure.

[DCKit]

3. I know that. Was just putting it out there to get a rise.

Without the loopholes, the US would be solvent to the nth degree.

[TatonkaJames]

4. Little Discussion in Washington ?

Ya think ? What 500+ and 100+member bodies hold their siphoned off money there ?
Investigating that is like asking them to vote for term limits.