Thanks to whistleblowers who released a trove of documents, a team of journalists led by the International Consortium of Investigative Journalists (ICIJ) has released the first reports of what it calls the Pandora Papers. (Readers may recall an earlier expose called the Panama Papers.)
It reveals how vast sums of money are spirited away by politicians and wealthy people all over the world into tax-havens. Over 330 politicians from 90 countries are named. The US has become one of the biggest locations for tax dodging because of its laws involving the use of trusts. (This may be why the Panama Papers revealed few US names as using off-shore tax havens. It is not that they are more scrupulous but that they don’t have to. All the tax dodges they need are within the US.) News reports are careful to point out that these transactions may not be illegal but that is not the point. The global oligarchy makes the laws and we should not be surprised that they then use those laws to benefit themselves. But key questions that can and should be raised is how they amassed such wealth in the first place and why governments are allowed to connive in these schemes.