Originally posted on the CSRwire website.
By Francesca Rheannon
Offshore tax havens are starving economies of the capital needed for productive investment and saddling governments with crippling deficits.
The headlines scream it every day: city, state and national budgets are being cut, cut, cut. Citizens are up in arms, outraged that needed government services are being eliminated, wages and pensions slashed and the national patrimony sold off. The poor in “developing” countries are getting poorer and the funds to repair aging infrastructure or adapt to climate change are drying up. A “silver tsunami” of boomers turning 65 is heading our way while politicians threaten to shrink government support for medical care for the elderly - if not eliminate it entirely. And young people are seeing their future dry up and blow away in the wind.