Everyone is now making vague noises about offshore tax havens and how they should be shut down, or regulated, or something. But the plain truth is that no one really wants to do it. Britain, obviously, could shut down the ones under their control pretty easily, but they never have. The United States could effectively shut them all down by refusing to allow offshore shell companies in designated tax havens access to US banks. But we haven’t done that either. Too many rich people like things just the way they are.
Interesting that these papers make so little mention of any U.S. culpability.