Tax haven

"Tax havens are (...) places that help [Rich people] cream off the benefits of society – roads, hospitals, educated workforces, courts and contracts and so on – while shaking off the costs, risks and responsibilities: the taxes, the disclosure rules, the criminal laws and more. (...) Most worrying is how hard the world has found it to crack down on such places. Leaders at a G20 summit in 2009 declared 'the era of banking secrecy is over' (...) but the overall result looks more like a whitewash. (...) Why do we still tolerate these offshore bolt holes? The answer: because our wealthiest and most powerful élites want them. In this age of austerity, we need a better reason."

Tax havens Allow Rich people to escape paying their Taxes.