How the news would look if everyone stopped waffling and told the truth.
Friday, 16 November 2012
Why Only Little People Pay Taxes.
A Commons Committe looking into corporate tax avoidance on Monday discovered what has long puzzled us all - why large companies, despite making billions in profits, pay virtually no tax. The amazing answer is that they exploit loopholes the size of elephants in tax law deliberately put there by politicians. Essentially these companies are doing nothing illegal but, even where they are, it makes no difference whatsoever. Three years ago a list of 1,000 wealthy British citizens who secretly stash millions of pounds in Swiss bank accounts was handed to the authorities who did absolutely nothing about it at all. Many of the names on the list were obviously businessmen, but it is believed that many were also public figures and, more to the point, many were politicians. The reason behind the tax loopholes couldn't be more plain - corrupt politicians are deliberately avoiding tax and are actively supporting vague, contradictory and ineffective tax laws because it enables them to steal money. There is, of course, a simple way to cut through all this nonsense and that is to replace our tax laws, aimed only at small people, with two simple principles - any attempt to avoid tax for any reason should be deemed to be a crime and any company that avoids tax should not be allowed to operate in this country. Job done. So what do you think the chances are that such a principle would be adopted by the likes of George Osborne and David Cameron? Absolutely none whatsoever.