Nope.

Been there, done this before - many times.

The more complex the regulations the government passes, the easier they are to avoid.

Congress is not smart enough to realize that all the good lawyers and accountants and financial people are working on the other side. Congress cannot hope to contain their creativity.

The President is so naive that he doesn't realize there are at least 20 to 30 countries that have no treaties of any kind with the US who would be DELIGHTED to host offshore accounts and corporations in complete secrecy and there is nothing he can do about it but bluster and threaten. I can think of at least six whose entire national budget derives from tourism and secret banking.

We used to call regulations of the type being passed this year as the "Lawyers and Accountants Full Employment Act."
Source(s):
Old guy.
Been around a long time. Seen a lot myself and read a lot more financial history.

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