Why not ban offshore banking?

If you can ban Cuban cigars, surely they can stop the rich from hiding money in offshore accounts, by simply banning the whole practice?

Assuming the goal is to hold the rich accountable for every penny owed, like the rest of us, and not to put in loopholes on purpose in exchange for "graft" or whatever.. (And come on, most politicians are honest. The people aren't stupid or complacent, they keep their leaders on a short leash!)

Answer: Both parties are corrupt.

nahhh...

Originally posted by cdtm
If you can ban Cuban cigars, surely they can stop the rich from hiding money in offshore accounts, by simply banning the whole practice?

Assuming the goal is to hold the rich accountable for every penny owed, like the rest of us, and not to put in loopholes on purpose in exchange for "graft" or whatever.. (And come on, most politicians are honest. The people aren't stupid or complacent, they keep their leaders on a short leash!)

The reason that Cuban cigars were banned was because of a trade embargo that was put on all imports from Cuba in order to try and weaken Castro's communist regime. It was made by JFK in 1962. You putting money in a bank in like Switzerland or something isn't helping the economy of a communist dictatorship.

So, there's a big difference between the two.