It is surprising that none of the economists proffering advice to UK Chancellor George Osborne reflected that the Real Economy has never been more productive or created more wealth; nor that $21 trillion of the liquidity missing from the Money Economy is withheld in tax havens by a fraction of 1% of the OECD populace, and could be quickly repatriated by applying existing back-duty tax laws. There is no shortage of goods or cash. The essential problem is fair distribution. The offshore rich must be persuaded or forced to invest in their home economies. We live in interesting and dangerous times.
TAX AND ECONOMICS ARTICLES 29TH APR 13
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