Delaware: The World’s Newest Rogue State?

Places like the Cayman Islands and Switzerland have long been known as global destinations for illicit money. But according to a new report released by the Tax Justice Network, an independent British research firm specializing in international financial transparency, there is another financial jurisdiction that is even more shady—and it’s just a stone’s throw from Washington, DC.

That’s right, folks—Delaware, of all places, tops the list of the world’s most secretive tax havens. In that state, tax loopholes that have been around for decades have allowed many of the U.S.’ biggest corporations to collectively avoid billions of dollars in tax payments every year. (I wonder what Vice President Biden has to say about that.)

Rounding out the TJN report’s top five are Luxembourg (#2), Switzerland (#3), the Cayman Islands (#4) and the United Kingdom (#5). The full list can be viewed at: www.financialsecrecyindex.com.

-Russell Sticklor