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Loading... Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens (2011)by Nicholas Shaxson
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Sign up for LibraryThing to find out whether you'll like this book. No current Talk conversations about this book. This is no rant about a few greedy people sticking their money in the Caymans to get around the IRS, but a full-blown expose of the most insidious and least understood sector of global finance on the planet today. The world's "off shore" banking system has been growing exponentially since the 1970s and today plays host not to billions, but trillions of dollars. Dollars that would otherwise be moving through your national economy, propping up your revenue base and allowing for much needed investment, or the reduction of national deficits. The book is meticulously researched and beautifully written, presenting both facts and enough clear examples to allow anyone with a median understanding of economics to fully appreciate the extent of the problem. I would strongly urge anyone with an interest in this field, or concerns about the state of the global economy, to get this book under your belt. If you have an account at Audible, I can personally testify to the quality of the audiobook version. Good book about the workings of the offshore finance industry. Gives a very readable account of how wealthy elites in rich countries avoid their fiscal responsibilities by exploiting secretive, low tax jurisdictions (the largest of which being the US and the UK!). And in reverse, how offshore facilitates capital flight from developing countries. I guess the most depressing thing is how acceptable it has become to avoid paying tax. Awards
"We are witnessing the greatest shift of wealth from poor to rich in history. In the United States alone, the wealthiest avoid paying an astonishing $53 billion in taxes each year. Nicholas Shaxson, in league with the Tax Justice Network, dives deep into the secret world of tax havens and takes us to hot spots from Switzerland to Panama to Delaware in a riveting narrative of how society loses through illegal tax evasion. With jaw-dropping stories and vivid explanations, Shaxson highlights the biggest players in the game, and shows how: - More than 12,750 foreign corporations get out of paying taxes each year by claiming to have offices in the same five-story building in the Cayman Islands. - One thousand children die every day as a result of illegal, trade related tax evasion. - Although billions are poured annually into Africa, corrupt officials there stow twice as much away in tax havens, making Africa a net creditor to the rest of the world. "-- No library descriptions found. |
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Google Books — Loading... GenresMelvil Decimal System (DDC)364.1Social sciences Social problems and services; associations Criminology Crimes and OffensesLC ClassificationRatingAverage:
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Mr. Shaxson carefully presents his evidence, including some historical background, and builds his case layer by layer. He manages to do this for a general audience that probably doesn't have a background in economics or accounting, and this is to his credit. But there isn't quite enough detail there to fully grasp all of the intricacies, either. It's a tough call for an author, and I can appreciate that.
This book does act as a great introduction to the problem, and I strongly recommend it. ( )