BBC News – Tax havens: Super-rich ‘hiding’ at least $21tn


Broadcasting House, London

Broadcasting House, London (Photo credit: Wikipedia)

This is a truly amazing story from the BBC. Check it out!

BBC News – Tax havens: Super-rich ‘hiding’ at least $21tn.

The story is politically super-charged, ahead of the US Presidential election, which seems to be dominated by polarized positions of both left and right. Why should the average citizen be confronted with austerity and related misery, whilst the super-rich look to tax havens?

There is increasing evidence from liberal, Nobel winning economist Paul Krugman, in his NYT blog, that the divide between the super-rich and the poor has increased enormously in the last twenty years, largely from fortunes made in Financial Services or real estate, rather than industries that promote jobs, like manufacturing. Apart from tax havens, the super-rich in the US are paying lower taxes than their parents twenty years ago.

The story will also be an embarrassment for David Cameron, where the UK is now seen as increasingly divided between the super-rich and their friends in the political classes, compared to the broad cross-section of society who are worried about their families’ futures.

The big loser in Anglo-Saxon countries, like the US and the UK, has been the middle classes over the last twenty years. Sadly, for many, the American Dream is dead, and there are increasing concerns about the plague of youth unemployment.

What do you think?


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British taxpayers to pay £350 million extra to EU – Telegraph

Rt Hon David Cameron, MP, Conservative Party l...

Rt Hon David Cameron, MP, Conservative Party leader, during his visit to Oxfam headquarters in Oxford. Full version. (Photo credit: Wikipedia)

This is a good read from the Telegraph. Check it out!

British taxpayers to pay £350 million extra to EU – Telegraph.

It seems that the austerity riddled UK still has to stump up more money for the EU, despite all George Osborne‘s assurances.

When will austerity start to focus on the bloated an inefficient EU bureaucracy?

How do think that David Cameron should respond?

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