The U.S. and several major European nations are going broke and desperately need to raise money. For most people in America the answer is for the rich to pay more taxes but that isn't happening.
By "off shoring" profits, by routing them through off shore subsidiaries, relocating corporate headquarters into mail drops in Switzerland, the Cayman Islands and other tax havens, and constructing tax code benefits such as "oil depletion allowances" and subsidies and depreciation for "gentlemen farmers," and other tax avoidance devices, the rich are not stepping up to pay more taxes. They, like everyone else, don't want to pay taxes and with few exceptions, will not willingly do so. And with lobbyists at their side, will likely not have too, at least for now.
Dick
To learn more about a prominent tax haven, please see "Tax Haven's Tax Haven Pays a Price for Success" The Wall Street Journal http://online.wsj.com/article/SB10001424053111904875404576528123989551738.html
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