Subtitles section Play video Print subtitles Lots of wealthy individuals and corporations depend on things like: well educated staff, doctors and hospitals to keep people healthy, good roads to go to meetings and home to their families, courts that protect contracts and land, and the police and fire brigade, who keep them from harm. What pays for all of these services? It´s tax! However... many of these wealthy individuals and corporations don't want to pay for the services that they benefit from. So they hide their money in tax havens, where their loot is protected by a wall of secrecy and where laws and regulations are always 'up for discussion'. Who cares? Well, in wealthier countries, everyone else has to contribute more. Whilst public services are cut. Is this ringing a bell? In developing countries it's worse. Resources are looted and they're forced to rely on aid instead of their own taxes. And for every dollar of aid that goes in, ten dollars in dirty money flows out. Guess where the money ends up... Tax havens! Half the world's trade passes through them. They're hiding trillions of dollars on behalf of criminals, dictators, wealthy individuals and multinationals. And there's a whole lot more going on, too. [Escape Banking Laws] [Politicians for Sale] [Launder Money Here] [Dictators Hide Your Loot] [Democracy? Pah!] Find out what tax havens are, why they're so damaging, and what WE can do about it. Visit www.tackletaxhavens.com
A2 tax wealthy loot aid hide brigade It's Time to Tackle Tax Havens 109 11 SophyYeh posted on 2014/01/29 More Share Save Report Video vocabulary