As we all know the new President of the US is now in office and this does not mean that offshore bank accounts will loose while Obama basques in his victory.  An Obama victory also means a victory for offshore banking as well.  He currently has a large number of wealthy companies and individuals who are hot around the collar due to his proposed taxation and tax enforcement legislation.  Obama’s belief that this will help the US economy recover in the long run from the current economical state and recession has people wondering if they will be able to maintain their businesses and personal finances afloat.  It seems that he has overlooked one major aspect of how wealthy individuals contribute to the US economy.  One of the major aspects of most wealthy individuals is their buying power.  The power to purchase goods and services is what provides jobs as well as revenue via value added and luxury taxes.  If you take this power of purchasing away from the wealthy then negative results are sure to follow.  The wealthy will now turn to offshore tax havens in order to conduct their banking and business transactions in order to maintain their buying power at the current level.  One of the most sought after articles for the wealthy in the US is the automobile.  Since Americans have strong ties to the automobile and feel it is an open display of their economical standing in society, there are many vehicles which are purchased by this group of individuals.  The current state of the American Auto Industry could be severely affected by the lack of qualified individuals to purchase the automobiles which could cause even more issues for the automotive industry.  There are millions of middle class individuals working in the automotive industry in the US and many of them already are experiencing sever cut backs.  What would happen if there were thousands of others who were laid off of plant closings due to the inability of the manufacturers to sell their products?  This cold create on of the largest losses of jobs the US has ever seen. Tax havens could actually be the solution to aiding the economy should Obama decide to go after the wealthy.