Tax Havens Might Get A Little Less Safe

Finally Obama comes out on the tax haven problem that plagues are country. Sure there's undoubted bonuses to allowing domestic multinational corporations to be able to operate at a lower tax rate with using them, but does that mean that 83 of the 100 largest American companies should do so? This article states that Citigroup has 427!!! I would venture to say that most major companies don't have 427 offices, yet in these islands a major company that has revenues in the tens of billions may have a small desk to represent billions in profits. Often the desk itself is not even occupied. I think this announcement will face harsh criticism on the hill, as so many members of congress receive funding from the very companies that tax havens aid. Yet something should be done, and the time frame he has proposed allows for economic recovery prior to the rebound.