2 ms·
How do you distinguish this from, say, the US which runs a trade deficit of around $1 trillion? Is your problem with Isle of Man the specific industries or bus
by _heimdall 3y ago
How do you distinguish this from, say, the US which runs a trade deficit of around $1 trillion?
Is your problem with Isle of Man the specific industries or businesses that drive revenue there, or the siphoning off of money/labor from other places?
- jampekka 3y agoUS does the siphoning with quite a different method, mostly by enforcing the petrodollar using the huge military. It could probably use this money a lot better if wellbeing of the citizens is the benchmark. Sleazeball havens like Isle of Man (and many others) by the merit of creating international legal loopholes. West in general siphons off money/labor from other places. Not a fan of these, but this wasn't really the point. The point was that Isle of Man has the advantage of not having to do much work of their own to keep the economy rolling so it's not necessarily comparable.
- marcus_holmes 3y agoThey literally just charge a flat tax rate and no corporation tax. It's not really a legal loophole. There are hoops they make people jump through - if you're a company wanting to relocate then you must have one Manx director. If you're a person then you must actually live there. The Manx used to make their money from smuggling. This is cleaner.