A history of the top marginal tax rates on the wealthiest Americans:
1940: 81%
1950: 84%
1960: 91%
1970: 72%
1980: 70%
1990: 28%
2000: 40%
2010: 35%
For 50 years, corporate backed politicians in Congress have slashed taxes to line the pockets of their wealthy donors.
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2) "“it is hard to find a comparable period in history of a Conservative, or other, government which achieved so little, or which left the country at its conclusion in a more troubling state.” Yep.
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I thought Mrs Thatcher was bad & she certainly was a catalyst for a toxic, sociopathic ideology, but these last 14 years have been devastating: "the worst government in postwar history" according to this study The Conservative Effect 2010-2014: 14 Wasted Years? www.cambridge.org/core/books/c...
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Reposted by Naomi Fowler
Implementing Fair Taxes Can Raise $2 Trillion Yearly for Climate Action! Action Aid's new report reveals the crucial role of #TaxJustice in funding climate action #ClimateFinance actionaid.org/publications...
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3) I covered on The Taxcast podcast 'The People vs Microsoft' - how difficult these big cases are & how the IRS really tried hard to take on a big offender, a case that's been running for years, demonstrating so much of what this retired IRS officer is saying podcasts.taxjustice.net/episode/137-...
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2) "He believes the agency must pursue the firms that formulate and sell tax evasion schemes to major taxpayers." Absolutely! The enablers almost always stay in the shadows.
www.icij.org/inside-icij/...
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1) Michael Welu is speaking out publicly for the first time after over 30 years working at the IRS "because he wants the agency to do better in its pledge to stand up to the county’s most powerful taxpayers." www.icij.org/inside-icij/... via @icij.bsky.social
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"If the top 10% of global emitters were required to slash their annual carbon emissions to that of the avg EU citizen...that would cut global emissions by around 1/3 - & would be FAIR" @annpettifor.bsky.social - tax isn't the only way, we can borrow to invest annpettifor.substack.com/p/passing-th...
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This is a heartening take on the European elections and the worrying advance of the far right from Ruth Ben Ghiat: "An anti-authoritarian counter-wave that focuses on solidarity rather than exclusion, and hope rather than fear, is building within Europe." lucid.substack.com/p/authoritar...
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I'm reading Andrew Kahrl's The Black Tax: 'exact opposite of what [we've] been led to believe about the distribution of tax & public spending in the US' from the experience of George Floyd's great great grandfather to this day. We'll speak on the Taxcast podcast soon uk.bookshop.org/p/books/the-...
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Some shocking numbers the Conservatives won't be sharing but Labour really should: "adding up the losses over all fifteen years comes to (in today’s prices) a massive £35,000 loss of resources for the average household." mainlymacro.blogspot.com/2024/06/the-...
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Interestingly a policy proposal from 1 of the parties in UK general election: an ‘emergency’ 25% tax on corporate share buybacks which could raise about £11bn a year (share buybacks =when a company buys its own stock to inflate its value on the stock exchange. That's only been legal in UK since '81)
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2) There's so much talk about the over-taxed but almost no one mentions the under-taxed or even the un-taxed.
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1) Yes, more taxes are needed in the UK to rescue us from the state of emergency the Conservatives have put us in, but taxes can be targeted so they're fair. Read these recommendations
www.taxjustice.uk/blog/ten-tax...
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Latest Corruption Diaries weekly podcast: United California Bank becomes the United California Bank of Basel. I love that it seems to have been down to the bank president liking the golf course in Basel. But...it had been a mafia money laundering operation.
podcasts.taxjustice.net/episode/23-j...
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2) Years ago Ethical Consumer exposed the temporary tax haven status of, at the time, the Olympic village in London. Major companies publicly pledged to pay taxes voluntarily, I covered it on the Taxcast. I tried to find out if they ever honoured those pledges but couldn't. youtu.be/DnjI9jMx_cI?...
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1) "How brands sponsoring the Olympic Games in Paris 2024 are coming in last place for tax conduct." www.ethicalconsumer.org/money-financ... Tax justice is still not a consideration for the Olympics...here's how from Ethical Consumer
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Reposted by Naomi Fowler
The NHS needs permanent staff, not to pay for more agency staff. Agency staff have a place and speaking as former agency staff, I'm not gonna slate who I was, but the NHS has been in a position where it needs long-term stable staffing and it's financial resources to be kept in house.
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Reposted by Naomi Fowler
"Wealthy countries push back as UN moves ahead with global tax plan: A minority of countries that opposed a legally binding U.N. tax convention may seek to water it down" www.icij.org/investigatio... via @icij.bsky.social
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Reposted by Naomi Fowler
1) Our latest podcast: @naomifowler.bsky.social looks at how we protect ourselves from forces that want to limit tax justice: “We need global cooperation from govts. Clearly tax advisor firms collaborate so I think we need to see tax authorities doing similar” podcasts.taxjustice.net/episode/143-...
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Reposted by Naomi Fowler
Remember: Trump asked oil execs at Mar-a-Lago for $1 billion for his campaign.
In return, Trump pledged to reverse environmental protections and cut their taxes.
The deal would net Big Oil $110 billion in tax breaks — 11,000% more than a $1 billion donation.
Utter corruption.
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In this podcast the Taxcast: how we’ve all been cheated - the corruption of tax policy making in Australia. The consequences have rippled out to affect the rest of the world. AND the latest on UN Tax Convention negotiations from an observer who was in the room
podcasts.taxjustice.net/episode/143-...
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If you're European please consider supporting this EUROPEAN CITIZENS’ INITIATIVE, calling on the European Commission to establish a European tax on great wealth to finance the ecological and social transition.
eci.ec.europa.eu/038/public/#...
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Out soon on the Taxcast: two of the OECD's top people are compromised on matters of tax and the public interest, while "PwC was trying to effectively steal information from the government & use it to cheat people of tax revenue" We look at tackling lobbying influence & better ways forward for us all
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Corporate profiteering: a Unite study of 17,000 companies shows margins jumped 30% since the pandemic. www.unitetheunion.org/news-events/... FTSE 350 companies paying 20% more to their shareholders, net investment fell from £37b per half year in 2018 & 2019, to £9b between 2022 & 2023
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Apparently this is "a big win for small island states threatened by sea level rise" which means "meeting Paris Agreement requirements is not enough" and setting out a "legal obligation to monitor and cut emissions" www.reuters.com/sustainabili...
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Yet another cautionary tale for business owners: don't touch Big Four consultancy advice with a barge pole... "Sometimes, the tax advice is just too clever"
michaelwest.com.au/billabong-fo... via Michael West
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"One man in the UK could, right now, end homelessness using just their personal wealth and he'd still have more than £6bn left over. That's insane." Check out the
Equality Trust's 'not-rich list:' nottherichlist.co.uk
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