CAPITAL IS ON VACATION

On return from holidaying in France, the land of revolutionary democracy, where they really know how to permanently turn aristocratic heads; newspapers report that the new aristocrats, super-rich villains, have hidden $21 trillion in tax-havens, courtesy of crooked banks. This is an advance on the $18tn reported in 2009 by the OECD – and shows it is increasing by one-trillion-dollars a year. $21 trillion will clear all the national government and banking deficits worldwide.

 http://www.guardian.co.uk/business/2012/jul/21/global-elite-tax-offshore-economy

The whole $21tn should be clawed back to the nations the cash was gouged from over the past 30 years. No new legislation is required. The governments, secret services, international banks, industry and auditors know where the loot is stashed. All that is needed to solve the global money crises is for back-duty-tax assessments to be raised under existing laws on all “offshore” funds, trusts, charities and other funny money hoards. The required (100 years old) laws and precedents exist across the world. In tax law the hoarders are guilty until proved innocent (prove where the asset came from and that tax is paid). This massive collection cannot be trusted to the usual tax collectors; e.g. the UK’s HMRC is infiltrated with tax dodgers and its courts with biased “offshore” judges at the highest levels. New “tax-clean” special task forces need to be recruited from the intelligence services and incentivised with collection commissions.

 http://www.channel4.com/info/press/news/hmrc-directors-connected-to-potential-tax-avoidance

Governments in the USA, UK, Europe, South America, Japan, China and the Pacific Rim have no reason to delay the repatriation of the $21tn; to be invested in the home nations now; to make sustainable jobs for our unemployed, our students and the next generation. Ask your elected representatives if they or anyone connected have siphoned assets to tax-havens. And tell them to get our capital back to work at home.

TAX-STRIKE: The alternative is for everyone to ape the rich and to withhold all their taxes.

 TAX AND ECONOMY - ARCHIVE - JAN13

TAX AND ECONOMICS ARTICLES 29TH APR 13