disagree - not free enterprise, not democracy, quite the opposite - this will open a can of worms but it will be opened
just because it is possible doesn't make it legal Swiss bank accounts are perfect for tax evasion because they are anonymous and the Swiss authorities won't disclose identities in this case the whole thing was exposed because of a prosecution in Switzerland
as Australian residents we must disclose ALL income, even offshore income, this will sink a few dirty-birds