I think the idea is they are host to ultra-risky off-balance sheet activity that increases financial fragility and the exposure of taxpayers in OECD countries.
Plus it's the whole opportunity-in-crisis thing, trying to tap a revenue source in a time of pressing need, as you suggest. Methinks you are a little harsh with Prof. Rodrik. On balance he's a positive influence among the economically correct (sic). In the ranks of blame-worthy economists, he's pretty far down the list. -----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Laurent GUERBY Sent: Sunday, April 05, 2009 8:37 AM To: [email protected] Subject: [Pen-l] Dani Rodriks loves tax havens I was surprised to read: http://rodrik.typepad.com/dani_rodriks_weblog/2009/03/am-i-being-dense .html << Am I being dense? France has threatened to walk out of the G20 summit in London if agreement is not reached on the important issues. Bravo! But wait. What does France want agreement on? "I am absolutely determined, and President Sarkozy has said it loud and clear, that we actually eradicate non-cooperative centres and tax havens," [finance minister Christine Lagarde] said. "I know that Chancellor Merkel is very much on that line, I know that Gordon Brown has said that old tax havens have nothing to do with this new world. "Well, we need to deliver on that and we need to be extremely united and strong." Now can someone explain to me what offshore tax havens and financial centers have to do with our current mess? I suppose some would say this is a tactic to divert attention from all the other important issues on which there will definitely not be an agreement on. If they can at least agree to put the blame on offshore havens who, after all, will not be sitting around the table, France and the others can walk away claiming victory. Will the media really be taken in? >> My answer on his blog and by email: << "I suppose some would say this is a tactic to divert attention from all the other important issues on which there will definitely not be an agreement on." While I don't like Sarkozy, I see on this blog you advocate massive FISCAL spending to get out of the current mess created by the financial world. Now when you talk about FISCAL spending, you talk about future TAXES. When you talk about future TAXES, you have to ask yourself who will be the TAXPAYERS. TAX HAVENS are where rich TAXPAYERS hide their money and so let other people pay the bill. So going after TAX HAVENS is the absolute minimum our government can do in those time of FISCAL SPENDING. No wonder economists like you screwed the world. I hope you will apologize for this. >> Laurent _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
