A bit like tax exiles with their endless excuses (*). Many of the big ships that plow the trade seas fly the panama flag – Flags of convenience, just like tax exiles. In some ways it is fitting for the ships as at least there is a great merchant tradition in Panama. Of course they’re also thinking of expanding. A similar huge feat of engineering is being considered for the Suez Canal.
At least panama flagged vessels however “fake” and pretentious are at least nominally from Panama. Unlike Panama Hats which are from China. Oh only kidding. They’re from Ecuador. Panama hats are light-colored, lightweight, and breathable, and now associated with the seaside and tropical locations. Originally from Ecuador the highest quality “superfino” Panama hat can hold water, and when rolled for storage, can pass through a wedding ring.
So I don’t like tax exiles. I do like panama hats although I don’t actually own one. And my sympathies begin to lie with pirates, surely they could hit some tax havens and so us all a favour. Um. Maybe the wealthy ones actually live in tax exile, maybe that’s why tax domains are havens from piracy!
* Just admit it, You’re doing it to be richer. You grew up in a community with all the benefits that brings and now you have the money, you want to keep more and more of it. So now its all about you and your wealth and nowt to do about being social or being part of the fabric of society. You’re now entitled to it. Why? Because you have it.