A Must Read For Activists – a Book Called ‘The Great Tax Robbery’

Justice4Jobseekers supplied a link to Vox Political who is asking

How much of the national debt has been faked by tax dodgers?

Oliver-Wendell-Holmes-9342379-1-402

Oliver Wendell Holmes – Harvard Grad.

“A bank in the UK could lend, say, $1bn to a US bank… generating tax-free income in the UK but a tax deduction in the US – and then simply borrow it back. For the second leg a different instrument could be used that generated tax-free income in the US and a tax deduction in the UK. The banks had simply swapped $1bn, to no economic effect beyond two tax breaks, while quite possibly keeping any mention of the debts off either’s balance sheet. Such tricks – the creation of debt more for tax advantages than any real business need – undoubtedly contributed to huge levels of inter-bank indebtedness that triggered the financial crisis.” – Richard Brooks, The Great Tax Robbery, p86.

Richard Brooks

Richard Brooks

http://mikesivier.wordpress.com/2013/10/22/how-much-of-the-national-debt-has-been-faked-by-tax-dodgers/

The Great Tax Robbery

The Great Tax Robbery – Richard Brooks

A review of the book The Great Tax Robbery by a UK Uncutter

‘The book is also a trenchant defense of taxation as a tool for ensuring a just society. Brooks begins his book with a quotation from Oliver Wendall Homes: “I like paying taxes. With them I buy civilization.” And Brooks is clear to outline just what a fantastic bargain this deal is: “For every pound I earn I will pay around 7 pence for immediate access to professional healthcare for my family, 5 pence for my children’s education, 2 pence for living in relative security and 11 pence for pensions and social security for my compatriots.” Brooks shows that tax represents a cheaper and more efficient way to provide basic services than any private system ever devised. “If it were a club,” he writes, “only a fool would not join.’

http://www.ukuncut.org.uk/blog/the-great-tax-robbery

Independent reports firms running NHS Care Services avoiding millions in tax http://www.independent.co.uk/news/uk/home-news/tax-special-investigation-firms-running-nhs-care-services-avoiding-millions-in-tax-8892925.html

Comment IR1- ‘So now it’s out in the open. Jeremy Hunt supports companies who avoid tax in this way. Care UK Ltd contributed thousands of pounds in sponsorship for Jeremy Hunt at the last election. Result: Care UK Ltd are now one of the major providers of care being paid for by our taxes through our funding of the NHS all thanks to Jeremy Hunt and his oily Westminster elitist chums.

It is obvious from this that the front bench of this nasty bunch of gangster cum politicians are, contrary to their previous protestations, completely at ease with encouraging this type of borderline legal tax loophole. No surprise there then.

No such thing as a free lunch eh Jeremy?’

Comment IR2 – ‘Jeremy is more principled than that; he doesn’t do lunches – it’s banquets or nothing – das Beste oder nichts!’

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This entry was posted in 38 Degrees, Anti Cuts Movement, Anti Globalist, Art and Artists, Austerity Kills, Bilderbergers, Bloggers Having Their Say, Community Action Watford, Disability Action, Economy Train Wreck, Election 2015, How to Identify Tories, Justice4Jobseekers Facebook, Lightwork, Money Matters, People's Assembly, Tax Dodging, The Importance of Being Awkward - Tam Dalyell, Tory Party 2015 General Election Team, UK Un-Cut, Various Suspicious Operations, Watford Coalition of Resistance and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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