The problem is, however, that there is a lag time of many months after signing a treaty before it goes into effect. The wealthy, some say with the help of their Swiss bankers, are using this interlude to move their money to new tax shelters being set up in wealth-friendly Hong Kong and Singapore. In other words, it's still out of reach of the tax revenooers.
Here's my question: In this country at least, the wealthy argue that their taxes should be cut dramatically because it is they and their money that create jobs. If billions of dollars (some say TRILLIONS of dollars) are constantly on the move in this giant shell game of tax dodge, how is that creating jobs?
Somebody please 'splain it to me. What little business acumen I have doesn't understand how this ultra-high-roller game is played. Seems to me this is just making the case for those who argue "the rich get richer". What am I missing?
S