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No, but it certainly can be used for money laundering and tax evasion.

It removes the need to trust a bookie or agent to move money offshore.

There are lawyers/accountants in Switzerland and Hong Kong who will help you launder money from third world countries.

Moving your assets offshore without local government knowing is not a crime in other country!

Edit: why downvotes? What's wrong?



My point was that you are assuming some sort of libertarian viewpoint where nation-states trying to tax your money are fundamentally corrupt/socialist.

I personally tend to think that in the vast majority of cases govt spending of tax money does more for the greater good than whatever a self-appointed authority would. There are many exception to this, but I still think this is largely true in democracies. But then again I tend to identify as a social-democrat.


Yeaa but if you go to some third world countries, you'll see high tax rate yet not enough benefits for your tax rate. Prime example is India where people still have power cuts yet business/salaried middle class pays north of 30% tax.

People there will happily pay 60% tax if they get even Rome level of infrastructure access

So, it's no brainer a lot of them move their money offshore.

Edit: people who feel they are not getting fair share of their infra quality, with this line of thinking will move money aboard doesn't matter if it's ethical/legal thing to do or not.


This would require some discussion of international wealth and income distribution, but to me the injustice is not at the state level here, but rather in the fact itself that India is a third world country. The Indian upper-middle class should really be demanding reparation to the UK for the effects of colonization rather than moving money offshore damaging only their poorer countrymen.




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