Credit: Emmanuelle Pays / Hans Lucas/ AFP / Getty
A study published Tuesday estimates that tax dodging enabled by the United States, the United Kingdom, and other wealthy nations is costing countries around the world nearly half a trillion dollars in revenue each year, underscoring the urgent need for global reforms to prevent rich individuals and large corporations from shirking their obligations.
The new study, conducted by the Tax Justice Network (TJN), finds that “the combined costs of cross-border tax abuse by multinational companies and by individuals with undeclared assets offshore stands at an estimated $492 billion.” Of that total in lost revenue, corporate tax dodging is responsible for more than $347 billion, according to TJN’s calculations.
“For people everywhere, the losses translate into foregone public services, and weakened states at greater risk of falling prey to political extremism,” the study reads. “And in the same way, there is scope for all to benefit from moving […]
I’m sure that it suprises no one that the countries involved in this scam are the “Five Eyes” plus. This entire process should be viewed through the lens of empire. It is the process of empire to extract wealth from the dominated countries and shift that wealth to those in control. It’s a very straightforward process. I don’t see the wealthy as having a global view as much as I see them as the functional agents running the empire. It’s why the United States government among others protects them. As the article states:
” “People in countries around the world are calling in large majorities on their governments to tax multinational corporations properly,” Liz Nelson, TJN’s director of advocacy and research, said Tuesday. “But governments continue to exercise a policy of appeasement on corporate tax.”
“We now have data from these governments showing that when they asked multinational corporations to pay less tax, the corporations cheated even more,” Nelson added. “It’s time governments found the spines their people deserve from their leaders.” ”
Does anyone need additional information that the population does not control governement but that the government is under the control of a rapicious elite? Want to change the outcome? Then you have to change the structure. Think outside the box.
The rich get richer and many Americans think that is just the way of the world and the way it should be-Jesus rewards the faithful. Amazing to me, having read far too many comments following various news stories of this nature, that many would support more tax cuts for the rich. If the rich can use the tax system to avoid taxes then many agree that is a good thing they don’t like paying taxes either. Many in our tattered republic have decided to double down by giving the rich a completely free hand to bring prosperity to us all-“let a thousand flowers bloom…”