13. How does offshore tax avoidance help the economy?
There is a difference between a tax loophole and a tax deduction.
The mortgage deduction is supposed to provide an incentive for people to buy a house. Buying a house stimulates the economy by providing demand for construction. Fewer people would buy a house if it weren't for the mortgage deduction.
Please explain to me how offshore tax avoidance stimulates the economy.
Oh, I suppose you'll say the rich get to keep more of their money, so that some of their wealth will eventually trickle down to the rest of us. Well, would it not be better if that "wealth," which seems to take an awfully long time to trickle down, would go toward building roads and bridges and improving the education system?
I'm sorry, but you are only fooling yourself if you think that taking advantage of a tax loophole is one's patriotic responsibility.