So I just caught this story in the New York Times, Vast Hidden Wealth Revealed in Leaked Records, and it reminds me of something I've been pondering lately. Is it just more or are secret tax havens going to begin to dwindle and decline in the modern era? Our ability to track and expose those who hide money can only improve with time and the more 3rd world nations begin to industrialize the higher their own tax rates will grow to meet the demands of improving their economy/state.
There will always be "havens" in the sense that some state will be at the bottom waving a flag trying to entice rich people to stash their money at a low rate. Eh, but then there is the question of black market income which is probably pretty large for some 1%'ers...ah, nevermind.... I'm posting this despite having changed my mind midway through writing.
File under: writing as a thinking tool.
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