Why tax havens persist, and where a rethink could take hold
Money may be the mother’s milk of politics, but the two don’t mix well when the money is channeled through a tax haven.
The leak of documents last year from a law firm in Panama, a tax haven, led to the departure of two prime ministers (Iceland’s and Pakistan’s). Another leak of papers this past weekend from a law firm operating in the Cayman Islands has now embarrassed Britain’s Queen Elizabeth II and Jordan’s Queen Noor, billionaire and political donor George Soros, onetime presidential candidate Gen. Wesley Clark (ret.), singer and political activist Bono, and US Commerce Secretary Wilbur Ross.
For Mr. Ross, the revelations represent a kind of double whammy. The new leak of documents reveals his investment in
