The Center for Freedom & Prosperity has released Tax Havens: Myth Versus Reality, by Daniel J. Mitchell (Senior Fellow, Cato Institute):

The following section addresses some of the myths being propagated by opponents of low-tax jurisdictions. Each point is then briefly discussed and one or more links are provided for those seeking background information:

1. There is not a significant "offshore evasion" problem
2. Financial privacy plays a key role in protecting human rights
3. OECD hypocrisy
4. The US benefits from tax competition
5. International bureaucracies have no moral authority to interfere with national tax laws
6. Fiscal sovereignty is at stake
7. We should mimic tax havens, not persecute them
8. The problem is high tax rates
9. The OECD tax agenda is completely inconsistent with tax reform
10. Tax competition should be celebrated, not persecuted
11. So-called tax havens are less likely to engage in money laundering according to international experts and U.S. government agencies