Good journalism, but he is disqualified for not knowing in depth the subject he is investigating. He starts with sticks, blindfolded, against a piñata whose content he ignores.
President Obama gave an accurate answer to a question that was asked as a result of publications on money laundering, tax havens and the involvement of large companies and personalities from his country and the world. He said that you had to be careful, one thing is “tax fraud” (declare and pay what the law says) and another is “tax efficiency” (declare and pay as little as the law allows).
Pandora’s roles are an endless list of companies, foundations, operations and characters that negotiate, produce and move large capital, an entertaining count of mega rich. Nothing that hadn’t been done, in one way or another, since the Middle Ages and before Christ. In a parable, a bad manager of someone else’s business is punished, who buries a coin instead of investing it and multiplying it.
The great geographical discoveries, scientific development and exuberant human progress to this day, would have been impossible without agglomerating and organizing large capitals, operating under safe rules. This is how corporations, trusts, insurance companies, and so on were created.
Another detail is that wealth always migrates to places like Iceland, which offer better conditions to grow. But let’s get back to the topic. An example of fraud. A farm produces 1,000 and pays taxes at 50% or 500, in an OECD country. If you declare less than you owe, say 800, you pay 400, defrauding 100. That could go to Pandora. If, on the other hand, according to the law, you divide the property in two and allocate one for fodder and another for grazing, it is possible that you pay 200 adding both. You save 300 (before dividing it you paid 500). That is efficiency. I admit, it is debatable, there are arguments for and against. Everything in Law is like that, that’s why there are judges and lawyers.
Even Abraham had the audacity to litigate with God, until he lost a review. And the law? Likewise, it is subject to interpretation. Where is the crime of laundering? Pandora had to take care of that, understanding by laundering, the misuse of the law in order to commit crimes, to hide and take advantage of dirty money, ill-gotten. We talk about drug trafficking, embezzlement, terrorism, smuggling, human trafficking and others.
How do we deal with the poor, if big capital seeks efficiency? Change the laws. See what to do with the tech giants everywhere and nowhere. But do not blame those who, with strict adherence to rules, try to maximize revenues, reduce expenses, pay only the taxes due and be more efficient. And even less to the small countries, pretending to attract insignificants, compared to the developed emporiums, which want everything.