Sunday, 22 July 2012

One eyed governments

An interesting story circulating in today's media is the global super-rich elite had at least $21 trillion (£13tn) hidden in secret tax havens by the end of 2010, according to a major study.

Now whether the tax evasion is this large is open to debate, but what is clear the super rich are industriously using professional enablers in private banking, legal, accounting and investment industries to avoid their moral responsibilities.

It will be undoubtedly true that many British tax payers will be involved in this activity of tax evasion.

Whilst the cuts in public spending, cut to the tax credits and benefits, whilst tax increases has faced many, some of the super rich has cocked a snoot at the millions who are suffering.

Yet we have a coalition government that is for the millionaires not for the millions.

This government chooses the soft options, taking housing benefit from the single under 35 year olds, taking tax credits away from low income families and we are seeing vital services vanishing.

This coalition Conservative government rhetoric is about demonising the poor, yet it was bankers, hedge fund managers and investment bankers who did their very best to bring the world economy to it's knees with casino capitalism.

The real issue for the economy is the loss of tax revenues, the morality of casino capitalism, is narcissistic, they believe themselves so important the millions has to bow down to them, they believe they are untouchable.

They think themselves beyond progressive taxation, beyond regulation of the markets, they will leave us all, because they think themselves so valuable. 30 years on, and that bubble has burst.

Making money on leverage debt is a mirage, a dream built on sand.

Money invested in production to create wealth for the millions not the millionaires create real wealth, the dreadful outsourcing and race to the bottom is a self serving prophecy.

Do we have politicians who will engage with this agenda, shaping an industrial/growth strategy, or will the Conservatives continue to be the mouth piece for their funders in the City of London, the investment bankers, the hedge fund managers and the insurance giants.

These vested interests are the ones that are supporting the millionaires against the millions, with this in mind the Conservatives will be unable to tackle this dangerous self interested lobby.

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