There is all of this talk going around about the US going after and exposing offshore bank accounts.  Let’s set the record straight and put some of the facts out there to settle the dust.  First of all the US does not have jurisdiction over the world and every banking and financial institution in existence.  So, its going to be a hard and long road for the US to reach out and squeeze the neck of every developing nation that is considered an offshore tax haven.  There are some important questions that have to be asked here as well.  One of the major questions is; “Is the US in any financial position to go after fiscal paradise jurisdiction?”.  Currently the entire world is aware that the Obama administration has continued to carry on the Bush tactic of printing money and dumping it into the economy.  In the very near future the dollar may be on its way to loosing a large portion of it’s value.  Secondly, if the US punishes those jurisdictions in which are considered as non cooperative tax havens the US will need to propose a comprehensive package for all of the countries in order to assist them in maintaining and bettering their current financial position.  Keep in mind that many of these countries would not be able to survive and provide for their citizens without their current offshore legislation.  It is a know fact that more instances of tax evasion occur onshore than offshore.  Many countries consider the US to be an offshore jurisdiction due to certain tax legislation that is in affect.  In many instances most of the individuals who go offshore are middle class and the majority of the businesses that go offshore are small to mid sized businesses doing US$1Million or less per year in gross sales.  Is the US willing to bite the hand that feeds the majority of it’s citizens?  With the facts being presented, it is more than unlikely that Obama will follow through with his promise to crack down on offshore tax havens and expose offshore bank accounts as the benefits are far and few between.