There was a stunningly good article in the Guardian on Saturday that I missed (well, it was my mother-in-law's 80th, and these things take some organising). It was by Patrick Collinson and concluded:
When governments around the world are teetering into bankruptcy, and households are more indebted than ever, you don't have to be a Marxist to acknowledge that the share of the national pie taken by profits is unsustainably high.
The City knows it. I was at a Mayfair asset management group this week, where fund managers were chewing over the risks of a steep rise in corporate tax rates. But they also expect corporates to indulge in as much profit-hiding as they possibly can. Expect more fake domiciling in Ireland and elsewhere.
We don't need personal tax rises, we need to raise corporate tax and tackle the dodgers. But with the likes of the Tea Party and the Tories at the helm, the corporate ship will remain docked permanently off the Cayman Islands.
No wonder people are angry. The corporate looting of the UK goes on, unabated with official sanction.
Hat tip: False Economy
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“The corporate looting of the UK goes on, unabated with official sanction.”
And the “official sanction” is provided by fat cats in UK “government” who have either a direct or indirest vested interest in allowing Jersey, Guernsey and the Isle of Man to harbour corporate and individual tax dodgers.
Meanwhile back home in the UK millions of honest, ordinary citizens are subject to ever increasing tax demands to compensate for the fraudulant greed of a privilidged few .
Even the Daily Mail has a piece on ‘capitalism in crisis’!
(Someone told me about it so I looked it up on the net – honest guv)
http://www.dailymail.co.uk/news/article-2022993/Capitalism-crisis-80-years-ago-banking-collapse-devastated-Europe-triggering-war.html
This problem isn’t just in the UK Richard. Even where I live in Australia, we have the same symptoms. Our multi-party systems are not democracy. They are a disguise for oligarchy and behind that plutocracy. Which explains why we have the same problems, year after year, no matter who is in office – no roads, no hospitals, ballooning defence budgets and endless wars. I predicted to all the bright-eyed optimists who expected great things from the ascendancy of Barack Obama, that there would be no change there either. And I was right. As you’ve indicated in your posts, the entire system needs an overhaul. By the way, enjoy reading your posts.
Cheers
Anthony