Saturday, June 15, 2013

Tax matters UK

The unbounded hypocracy of the UK government never ceases to amaze me. The entire concept of a tax haven was invented by England as a way for rich land and business owners to retain their wealth by moving it away from the gaze of the Inland Revenue. Even the name Inland Revenue implies matters pertaining to the isolated isle of England and the first tax havens were set up on Jersey, the Isle of Man and many other british overseas territories that ran exclusive clubs that only rich pals and cronies of those in power were invited to.
The loopholes that rich people have used in the past have relied on the ignorance and lack of imagination of the little uneducated population. Today however, anyone with the tiniest bit of savvy can set up a perfectly legal and effective tax avoidance scheme for a lot less than they would pay in tax. Even personal tax.
Businesses also have lawyers who are employed to use the law to the best advantage of the company and bravo to them for doing a great job!
The current discourse of David Cameron and his cronies is nothing more than deflection, trying to create uproar in the ranks of the great unwashed who are given to believe that the problems of poverty and unemployment are the direct cause of corporations such as Apple and Google whereas in fact it has nothing to do with anything but the insane profligacy and mismanagement of successive right leaning governments.
There will always be loopholes in the law and there will always be clever lawyers to exploit the loopholes. The intelligent person in the street now has access to the full disclosure that the Internet provides and will be able to find and piggy back onto those systems.
Furthermore, countries succeed by lowering tax, not increasing it. The hammering that Ireland has taken in the EU recently is nothing more than mud slinging and however people like Cameron pontificate they cannot convince anyone with half a brain without actually demonstrating the effectiveness of their policies. So far so Crap Mr Cameron.


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