Cross posted from the Tax Justice Network
We have for years remarked on the role of the offshore system in promoting financial instability, not least for its propensity to enable financial players to get out from under financial regulations they don’t like, then taking the cream from risky activities and shifting the risks onto others. Now, from Izabella…Read more
Cross-posted from the Tax Justice Network
This post examines another excellent in-depth investigation by Reuters into global financial stability issues, and the role of tax havens in this giant game of pain and plunder. The investigation uncovers, among other things, a whole lot of offshore shenanigans, complementing what we (and relatively few others) have been saying for some years now, and…Read more
In his essay on what he termed ‘Conspicuous Leisure’, economist Thorstein Veblen observed that “In order to gain and hold the esteem of men it is not sufficient merely to possess wealth or power. The wealth or power must be put to evidence, for esteem is only awarded on evidence. And not only does the evidence of wealth serve…Read more
Cross-posted from the Tax Justice Network blog:
From Britain’s Channel 4, a superb exposé of Britain’s high-end property
circus market and the willingness of sellers to accept money from all sources, no matter how dubious. It is hilarious and ghastly, at the same time.
This is money stolen from some of the world’s poorest people, going…Read more
I was the main author of a new report published today by the Tax Justice Network, entitled Ten Reasons to Defend the Corporation Tax.
The press release reads:Read more
Apologies for the relative lack of posts recently. I’ve been busy with the Tax Justice Network blog, and with a new project I’m involved in to look at the so-called ‘competitiveness’ of nations. The project has started with a new blog called Fools’ Gold, and I’m posting here one of the first blogs from that project, about Ireland.…Read more
An article I just wrote for Naked Capitalism, cross-posted with permission.
Paul Hewson, an Irish crooner who likes to go by the name of Bono, is well known for calling on citizens to spend their tax dollars on fighting poverty in Africa – then setting up fancy structures to dodge paying his own taxes.…Read more
A post I just wrote for the Tax Justice Network. Cross-posted with permission.
“I have on my desk an Opinion – a piece of formal tax advice – from a prominent QC
There are obviously many answers to this question. Such as the fact that the pervasive anti-tax, anti-regulation, pro-tax haven world view sets many City players against British society, or attracts people with a rather anti-society world view. It’s an age-old thing, which I discuss in some detail in Treasure islands. The wealth of senior City players also can result in…Read more
I haven’t posted for a while, but this one is egregious enough to move me to write. This is adapted from the Tax Justice Network:
An astonishing story, from the FT:
“The big four global accounting companies have taken out press advertisements in Hong Kong stating they are “opposed” to the territory’s democracy movement, warning that their multinational