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The Moral Case for Tax Havens

by Dan Mitchell
International Man

Tax havens have a valuable role in the global economy. They facilitate the efficient allocation of capital; they encourage saving and investment; and because of tax competition, they encourage better policy in the rest of the world.

As noted in the New England Journal of International and Comparative Law, tax competition serves a beneficial role. It forces greater fiscal responsibility and affords taxpayers the ability to enjoy more of what they earn. This in turn draws savings investment and skilled labor into the economy.

But economic efficiency isn’t the only reason that tax havens should be preserved.

These low-tax jurisdictions also should be defended on a moral basis. Most notably, they offer a safe haven for people subject to persecution.

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