All the statistics point the same way - as highlighted by Capital and by such blogs as Michael Meachers- wealth - the ownership of capital, land, shares, property,money etc - is increasing its value every day but even more so in relation to income earned, but is hardly being taxed. This is a moral, social but particularly economic outrage and is leading to greater inequality across the UK and globally.
The richest top 100 in the world now own more than the bottom 25% of the world - if not more. In the UK earned income arising from the growth in wealth of the top 100 people in 2000 owned £150 billion - by 2011 the top 100 owned £450 billion and rising.
We the ordinary working people of all classes are taxed between 20- 40% the wealth owners pay nothing as it is hidden in tax havens or through tax avoidence or at the most they pay a small percentage of their increased wealth.
This disparity in taxation means that the very rich get richer with no benefit accruing to the majority
The result is that as the rich do not spend much of their wealth but hord it or speculate with it there is no economic dynamic for growth. Where ordinary people get more money they spend it which gives a boost to demand and thus to economic growth. Without fair taxation on wealth and income there is no long term sustaianble growth.
Who are these top 1%? the children of the rich from times past with unearned wealth, the aristocracies of the world, plus the new gangster capitalists from Russia and their satelite states, the oil billionaires and the dictators and military leaders bleeding their countries dry plus of course the gangsters beghind the world's drugs trade, people trafficking, monet laundering, financial malpractice and speculation - parasites all.
Where does a lot of this money go - through the greedy corrupt hands of British and international banks in the City of London - now the world's centre for money laundering - and through the tax havens- over 50% of which are under UK jurisdictiion . What is the current tax avioding money laundering wheeze? buying multi million pound properties in london - where you pay no tax if a foreign rsident, no purchase tax on the property, a pittance in rates - same as for a property worth £500k - while paying maybe max 4% when sold. and you dont even live there, but have met police - who you dont pay to maintain- protect your property from squatting - now illegal.
What can be done - well first - make everyone from abroad with an investment in the UK pay to own a property - make a mansion tax for properties over £5 million pay a windfall tax now on the increase in avlue since ownership minimum £500,000 each, with a proper rate of council tax charge on property - say 5% a year. Make all companies trading in the UK pay the 20% on profits generated here, make all transactions in financial speculation subject to the EU Robin Hood tax.
Introduce a full vigilence tax regime to get every single person generating money from their wealth pay the same as those who pay income tax, raise income tax to 60% for all those earning over £1 million per year but most of all pursue all tax avoiders for every penny avioded - no more Vodaphone deals letting them off billions.
What can we do - well UK Uncut is trying some good publicity and direct actions, boycott the tax avioders, vote for redistribtion, join the fair tax movement, and express your hatred and contempt of these parasitical and sociapathic scum when ever and where ever you can, - carry on with online campaigns, write in to the media, take peaceful direct action, slag them off on the streets and in their clubs mass mobilise - make them realise that we know who arnd what they are.
It will take time but we cannot just go on passively being ripped off for ever
No comments:
Post a Comment