Switzerland: Making Poverty Reality

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Swissinfo has reported:

The 300 wealthiest people in Switzerland have assets totalling a record SFr625 billion ($571 billion) - over a quarter of the country's gross domestic product (GDP).

It's true that the rich just get richer in tax havens. But it's also true that three things follow:

1) Local people do get poorer. They pay the taxes that the rich do not pay in these places;

2) The local people feel poorer still. There are two measures of poverty (and I simplify a little, I know). One is absolute poverty. I'm not suggesting that this is prevalent in Switzerland. But there is also relative poverty. Where you are in relation to others matters a great deal to people. And the realisation that some have wealth to which you can never aspire, but what has direct consequence on your well being by, for example, pushing up property prices, means that even the middle classes are less well off in tax havens than they would be without the presence of the absurd and abusive wealth of those who make it onto this 'rich list'.

3) Tax havens make the poorest in the world poorer assisting a process as abusive as slavery. See my blog yesterday.

Put simply, Switzerland is helping to Make Poverty Reality by operating as a tax haven state.