Quote of the day: JFK and secrecy

JFK

The quote is from John F. Kennedy, speaking in 1961 (hat tip: the Cayman Reporter):

“The very word “secrecy” is repugnant in a free and open society; and we are as a people inherently and historically opposed to secret societies, to secret oaths and to secret proceedings. We decided long ago that the dangers of excessive and unwarranted concealment of pertinent facts far outweighed the dangers which are cited to justify it.”

The context for the quote was not tax but the Cold War and the rivalry between the U.S. and the Soviet Union. Still, it expounds a strong set of general principles which multinational firms and wealthy individuals might like to ponder.