Tax cheating is one of the few booming global businesses and it is helping to magnify the huge disparity between the very rich and everyone else. This is increasing social instability and widening government deficits worldwide. It is also reducing funds available for critical investment needed globally to improve and preserve our water, energy and food systems. It takes accountants, lawyers and bankers to enable this evasion. Individual prosecution, professional sanction and imprisonment in this group,is needed for deterrence.
Tax Justice Network’s James S. Henry says authoritarian regimes account for over $11 trillion of “missing” offshore financial wealth from emerging economies. Here is a direct video link.