The figure tide, but it has been estimated by the World Bank more than eight billion euros are safe in tax havens without their owners pay a single penny of public funds in their respective countries . Caches are a quarter of global private wealth, according to International Monetary Fund.
To show a single button on the Cayman Islands, with 52,000 inhabitants and an area of \u200b\u200babout 260 square miles, 600 banks are installed, operating 2,200 hedge funds and pension is estimated to handle more than half a billion euros and is domiciled and serving some 44,000 companies. The ethereal "markets" has a name but remain anonymous.
Builders unscrupulous traffickers, terrorists, corrupt politicians and dictators of Third World countries share their spoils with large multinational companies through complex financial engineering of dubious legality, divert much of their financial surpluses to these caves.
To put this figure of 8 billion euros in one dimension understandable, do a simple calculation for which we will consider, by the difficulty of debugging data-all the money he takes refuge in these centers Prosecutors alleged provenance was legal, that is clearly not applicable in criminal proceedings as bribery, smuggling or the systematic looting of public coffers, and that, therefore, the only irregularity of this wealth not be taxed in the countries in which it is generated.
us apply for it the standard rate of corporation tax in force in our country 30% - of total resources to the respective conjured away treasuries and obtain an amount of 2.4 billion euros.
Once this calculation, to better understand the resulting figure, which remains incomprehensible, put it in relation to total resources that the European Union and the International Monetary Fund will have to spend on plans the rescue of European countries have pointed out, amounting to 270 billion euros (110 Greece, 85 Ireland, 75 Portugal). However, this comparison shows that with taxes left to pay the existing resources in tax havens could save up to nine times the three European countries.
Put another way, surely no citizen of a country of the Western world had been forced, as it is to be-to see their pay reduced, frozen their pension or benefits renounced major welfare state for the reason that there are imbalances between revenues and expenditures.
In 2007, before therefore of the economic crisis, the International Monetary Fund had estimated that these funds are taxed more than enough cover the Millennium Development Goals, that is, eradicate poverty and sustainable human development would get before the year 2015.
This scenario suggests that the elimination of tax havens should be the priority actions of politicians in the world and, only after they disappeared, sacrifices may be required to suffer most from the consequences of a crisis in which pregnancy did not have any responsibility.
While these financial caves persist with the blessing of the world authorities, we do not talk about budget adjustments that have to support our dwindling savings requirements of a "market" which, in addition to not pay taxes, try to continue enriching at the expense of our hardship. While so, is incubating a social revolution whose consequences I dare not predict. Hopefully! I was wrong.
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