Aug 4
Tax havens immoral?
Sir - Reading that the Rolling Stones have managed to stash away their millions in offshore accounts (report, August 2), I feel compelled to write about the escalating consequences of the increasing popularity among the world’s financial elite of using such tax havens.
Offshore banking has become seriously big business, with estimates that unpaid taxes could be as much as $255 billion a year - much more than the estimated $195 billion needed to halve world poverty in a decade. Offshore banking is highly unprincipled and morally indefensible.
While billions of dollars sit in virtual banks evading the taxman, millions of humans continue to die from hunger, disease, and poverty.
Benjamin Radley, Malvern, Worcs
This was a letter in the DT today. I wonder if it ever occured to the statist author that if people did not have to pay such high taxes that they would be more willing and able to give to charity. If taxes were not so high then the rich & others would be less inclined to take their money off shore and might be able to concentrate more on thinking of news way to make money and employ more citizens.
Also there is plenty of proof that tossing lots of money into areas of high poverty and disease does no good.
No sir tax havens are not immoral; it is high taxes that are immoral.
