George Osborne and tax evasion what’s trending? via Storify

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This morning I spotted that UK Chancellor, George Osborne was crowing about his record on tax evasion on his Twitter micro blog. This prompted me to use Storify to identify what was trending on George Osborne and tax evasion. Check it out below?

Looking at the Storify cited articles, there was not too much coverage from the mainstream media. Also there was not too much focus on the strategy, plan or potential windfall from tackling tax evasion.

This prompts me to offer a related open question:

Why are George Osborne and the HMRC not publishing a strategy, plan and quantifying the potential windfall from effectively tackling tax evasion of the wealthy and the multi-nationals?

Any thoughts?

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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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