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From The Socialist newspaper, 16 November 2016

Super-rich investigated

Them and us, image by Suzanne Beishon

Them and us, image by Suzanne Beishon   (Click to enlarge)

One third of 'high net worth individuals' are under investigation by HM Revenue and Customs, says the National Audit Office.

Those with wealth of over 20 million - about 6,500 people in the UK, the 0.01% - could owe 1.9 billion in missing tax. Tax collectors estimate about 1.4 billion of this went to advertised tax-avoidance schemes.

The Socialist welcomes Revenue bosses turning their attention from attacking staff to taxing the super-rich. But we say: investigate the lot of them! How does anyone 'earn' over 20 million?

It's unlikely to be through work, that's for sure. It's most likely to be money workers have made for them, which they claim to own. Taxing some of that back is all well and good, but workers produced it, and the working class should own the lot.

Nationalise the banks and top corporations. Take the wealth off the 1%. For a democratic socialist plan of production, not just begging capitalist thieves to hand some of their loot back.

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In The Socialist 16 November 2016:


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Lessons for Britain: Trump victory shows the right can't beat the right


Socialism 2016

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London Underground: RMT wins victory

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Workplace news in brief


Socialist Party news and analysis

Support the campaign to readmit expelled socialists

Secret hospital closures: bosses must come clean

1.5trn household debt - nationalise the banks!

Court win against bedroom tax not enough

Super-rich investigated


Socialist Party youth and students

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Privatisation and the 'race to the bottom'

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TUSC vindicated in censorship protest

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Socialist readers' comments and reviews

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The Socialist Inbox


 

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