Wealth does NOT trickle down to the poor

Some groundbreaking research for the Tax Justice Network, carried out by James Henry, a former chief economist at McKinstry and expert on tax havens, has shown that the super rich have hidden, and thus paid no tax on, assets of some £20trillion. Of the World's approx 7bn people about 10million are rich enough to play this game but only some 100000 are so disgustingly rich that they account for about half the hidden assets. The unpaid tax would be enough to wipe out Africa's debt or go a long way to solving the Eurocrisis. John Christensen of the of The Tax Justice Network said " For three decades extraordinary wealth has been cascading into the offshore accounts of a tiny number of super -rich. This is a staggering failure [of world governance] - - - but politicians are still relying on trickle down to transfer wealth to poorer people"

How dare the Germans copy us

David Cameron's pandering to UKIP & his right wing Europe haters by taking a shortsighted view of what is best for Britain - see previous post, obstructiveness, vetoes etc - has gained a convert. Angela Merkel scuppered the BAE/EADS deal because there wasn't enough in it for Germany. How unsporting of the Germans to follow the British example.

Hatred of EU makes right wing Tories even more stupid than usual

Defence minister, Conservative Philip Hammond, has confirmed reports that the UK will seek to end participation in dozens of EU-level crime-fighting structures. This has got to be one of the most breathtakingly stupid of all the disasters promulgated by the Conservative part of the coalition. Right wing, anti EU, Tories have now so captured their party that even the most sensible of co-operations with Europe must now be sacrificed. Why don't they be honest for a change & all shove off & join UKIP.

"Punish the poor & benefit the rich" Tory slogan for 2015?

No one condones benefit fraud but in the UK welfare fraud stands at £1.2bn (1% of welfare spend). Corporate tax avoidance is £25bn. We've clawed back £4bn from tax avoiders & evaders trumpets millionaire, George Osborne, at the Tory conference yesterday in almost the same breath as he wants to cut £10bn from welfare. Is this any kind of balance? Fairness? All in it together? George told a heartrending tale of a hardworking soul having to get out of bed on a dark, cold, morning, endure the daily commute, work hard all day & then repeat the process in reverse. Contrast this lifestyle with someone on benefits able to have a lie in & stroll down to the pub for lunch. We have to deal with this unfairness and the justifiable resentment it causes he proclaimed to the joy of the Tory faithful, almost none of whom will have any idea what life is really like for most people on benefits. ONE MAJOR FLAW IN GEORGE'S IDEA IS WHERE ARE THE JOBS FOR THESE BENEFIT LAYABOUTS TO DO? There are 100's of applicants for every vacancy. Most people on benefits who can work would love to work. George airily dismisses LibDem ideas for a Mansion Tax and other ways to get a more reasonable contribution from those who can afford it. It seems clear that the Tory slogan for the next election should be “Hound the poor to benefit the rich”. Got quite a ring to it don't you think? Poor George. Shame the economy is in such poor shape he can't afford to put scroungers to work building Workhouses.

A poem

Georgie Porgie, wealthy & sly
Looked at welfare & it made him cry
The welfare system had become too slack
Action was needed to cut it back
So much easier to clobber the needy
Than do something serious to restrain the greedy.