Comments on: CORRUPTION: Norway Turns the Spotlight on Tax Havens

By: Tax Research UK / Let’s get real about private capital

Tax Research UK / Let’s get real about private capital — Thu, 10 Jul 2008 08:41:40 +0000

[...] commentator on this site recently said: You talk about money as though wealth is generated by states, rather than [...]

By: Carol Wilcox

Carol Wilcox — Tue, 08 Jul 2008 09:37:09 +0000

QuestionThat, capital is created by labour (using land). Everyone is entitled to the fruits of their own labour and a share in the bounties of nature. It’s a great shame that this obvious truth is suppressed.

I too spoke to Richard at the seminar but I’m not ashamed to reveal my own name.

By: QuestionThat

QuestionThat — Mon, 07 Jul 2008 20:41:42 +0000

(we met (briefly) at the Tax Justice Seminar last week)

I have one significant problem with the argument you made then and are continuing here.

You talk about money as though wealth is generated by states, rather than capitalists. I know you don’t actually think this, but when you say things like “Tax evasion and corruption are believed to cost poor countries at least 50 billion dollars a year.” that’s what it sounds like. The 50 billion is based on an idealistic figure predicated on there being no (legal) tax avoidance or (illegal) evasion at all.

So Germany doesn’t “lose” $46bn - it fails to gain $46 billion. That might sound semantic, but it’s an important difference. If the businesses you attack didn’t exist, Germany wouldn’t be better off!