In this Aug. 3, 2012, photo, tourists walk along the beach of Seven Mile Beach on Grand Cayman Island. The Cayman Islands have lost some of their appeal by abruptly proposing what amounts to an income tax on expatriate workers who have helped build the territory into one of the most famous or, for some people, notorious offshore banking centers that have tax advantages for foreign investment operations.
In this Aug. 3, 2012 photo, tourists walk along the beach of Seven Mile Beach in Grand Cayman Island. The Cayman Islands have lost some of their allure by abruptly proposing what amounts to an income tax on expatriate workers who have helped build the territory into one of the most famous or, for some people, notorious offshore banking centers that have tax advantages for foreign investment operations. (AP Photo/David McFadden)