The Guardian provides an explanation for why so few Americans appear in the Panama document release: Forget Panama: it’s easier to hide your money in the US than almost anywhere.

It’s important to keep some of the concepts involved in PP carefully separate – privacy, liability, tax avoidance, and tax evasion. Tax evasion is hiding income on which you are legally obligated to pay taxes—bad. Tax avoidance is taking steps to avoid incurring a tax liability in the first place—acceptable to some, not to others—but the vast bulk of us would do it. Privacy is, basically, keeping your name and your activities out of the limelight—often good for literally everyone, sometimes used by some for tax avoidance, sometimes used by some for tax evasion or other nefarious purposes. Corporate shells are often used for privacy. And the basic corporate structures whose primary point is avoiding liability for their owners are old as the hills and will never be gotten rid of, because they are valuable to society—many truly good businesses and activities would not exist if the principals behind them had to worry about putting up their personal assets when something goes wrong. So don’t castigate Nevada or Panama or whoever just because they create lots of shell companies; look (if you can) into what’s behind them.

1.
The United States is a “tax-haven” if your home location is a foreign nation where high-incomes are highly taxed.
The United States is not a “tax-haven” if you live in the United States (though your tax rates will be lower than in high-tax on high-incomes nations). For this, U.S. nationals need off-shore havens, too. And the U.S. IRS and Justice Department do attempt to track at least the unfavored of these down (it is what the Justice Department was doing scouring FIFA records of Americas located fútbol enterprises for actionable scandal).
As Rothschilds is noted to have noted, the U.S. pays little attention to foreign tax laws, or to foreign tax dodging. Thus, the official unofficial policy of the United States can be identified: Get as much tax as you can from U.S. nationals, wherever they are; get as much money investment into the U. S. from foreign nationals (by not cooperating with their governments and providing their investments in the U.S. tax-haven. In the U.S. it is all about getting money into the country to off-set the trillions of national debt (or buy it in zero-interest reasuries).

2.
Note the prime example of “Democracy” in action that Iceland is providing: Iceland has about the highest scores for education of any nation, or that are possible. They have more higher educated per capita than anywhere.
Yet, when a “scandal” is broached in media, those highly educated go off like the lowest grade, least educated pitchforks-and-torches mob in Transylvania, or anywhere else, in this world or in fantasy. Even when the “scandal” is an obvious dud-scandal, when it is only a verneer of scandal, a painted-up-like-a scandal, or, as in the ‘panama-paper’ case, no scandal at all, but only an accusation of ‘scandal-like appearance’, which was recognized, and reported, not scandalous by the information-releasers. There was only an off-shore set up per financial advice, with the politician involved for wrong advice, for which he was not really involved because his being involved was void for being incorrect, mooted by being inappropriate for the set-up, which off-shore was a legal and not nefarious of-shoring.
Nevertheless a mob mobbed, demonstrators eager for something to demonstrate about went a-demonstrating, a howl and an outcry was raised, and a political lynching was demanded, and carried forward. No one in the mob bothered about, paid any heed to, slowed down for, or took any notice of the facts of the matter. The mob was aroused to lynch, they mobbed to lynch, they lynched.
What they demonstrated was “Democracy”, and “Democracy in action”. And “Democracy manipulable” amd “Democracy manipulated”: Stir up the “majority”, demand instant action, make instant action imperative, force forward while the mob is hot, before any of the sheep think to stop to think, and force your way.
Not only in Iceland, around the world. Elected governments are being attacked and overthrown, elected officials run out of offices, being replaced by unelected administratively-selected appointees.
All done “democratically”. Including in highly educated Iceland.
Qui bono education? Qui bono educating ignoramuses? Like the population of Iceland? Yes, Icelanders are ignoramuses, they are human beings, just like their like everywhere else. They are only better educated.
The case does not say anything about Icelanders, except that they are human. What it says it says about education. It says that education does not arm anyone against manipulation. Or against being stupid. Or being manipulable, and manipulated.

3.
Something positive, for dessert: Something from science: The primary radiation thrown off by nuclear-wastes, such as the waste-product from nuclear power production, is heat. Radiated heat is not harmful in moderate quantities. Nuclear wastes can be vitrified, encased in glass, th stabilize them (so they don’t flow into ground-water, etc.). Encased in lead and glass, or leaded glass, the harmful radiations, the nuclear decay radiations, can be blocked, so they don’t escape. The product is a lump of vitrified nuclear waste, stabilized, radiating only heat.
If you want something to produce heat to dry your clothes, install a lump of lead-shrouded vitrified nuclear waste in your dryer. Save the power producing, generating, etc. costs of running heat-pump refrigeration cycles, which are not that efficient anyway (they are only efficient relative to oil, gas, electric resistance, etc. forms of heating). When not drying clothes, vent the nuclear-waste lump out, instead of through the dryer, or to your house heating-ducts in winter, and to an ammonia-cycle air-conditioning system (instead of an electric-motor powered refrigerant pump system) in summer.
What is the downside? Heh, heh, the fossil-fuel industry would lose market if waste heat from nuclear wastes, currently being stored in caves with the heat radiation being blown off by banks of giant fans, began to be used instead of the products they refine and sell.