Many nations in Western Europe can no longer afford their big welfare states. Countries such as Greece, Spain, and Italy already have needed bailouts, while it’s just a matter of time before several other European nations face a fiscal day of reckoning. But the problem isn’t confined to Europe. Countries such as the United States and Japan also have serious long-run problems because of changing demographics and poorly designed entitlement programs.
Unfortunately, rather than fix their own fiscal problems, many of these nations are working through international bureaucracies such as the G-20 and the Organization for Economic Cooperation and Development to rewrite the rules and traditions of global commerce in an attempt to extract more tax revenue.

This is why there’s been a major attack against so-called tax havens as part of a coordinated campaign to undermine fiscal sovereignty and restrict the human right of financial privacy. Apparently small jurisdictions are not allowed to follow the same strategy of low taxes and small government that enabled nations such as the United States to become rich.