The Sorensen Monologues

Cartoon: Hell’s shells

As we close in on Tax Day, a time when many of us will be writing sizable checks to the IRS (ahem), well-heeled people around the world are enjoying their wealth tax-free thanks to secret accounts. On rare occasion, one of these immense piggy banks briefly becomes visible thanks to a data dump such as the Panama Papers. It’s worth noting that the US already has many agencies in lightly-regulated states that can help set up shell companies, thus likely explaining the relatively small number of Americans exposed in this case.