Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://www.socialistparty.org.uk/issue/766/16726

From The Socialist newspaper, 22 May 2013

Big business tax avoidance scandal

Make the corporate fat cats pay!

Ken Douglas
We are the 99% - Take the wealth off the 1% Socialist Party placard, photo Paul Mattsson

Photo Paul Mattsson   (Click to enlarge)

We've been robbed! Every day big corporations are stealing millions from us; millions that could be used to employ doctors and nurses, to build desperately needed houses and to reverse the massive cuts being made by this Con-Dem coalition.

But hang on, it's okay. "It's called capitalism. We are proudly capitalistic. I'm not confused about this," said Google chairman Eric Schmidt in defence of his company paying only 6 million in corporation tax while earning a staggering 2.7 billion from sales in Britain.

That amounts to a rate of 3.2% - a miniscule amount compared, for instance, to UK basic taxpayers who have to pay a rate of 20%.

Schmidt himself has done very well out of capitalism - he's number 45 in the Forbes 400 richest individuals in America and is 'worth' $8.2 billion, no wonder he's not confused!

Google's corporate motto urges: "Don't be evil". Presumably that exhortation is directed at anyone except the people who run the company itself.

Fellow evil-doers Amazon managed to top even this. They actually got more in government grants than they paid in tax; grants of 2.5 million covered its corporate tax bill of just 2.4 million, while the company had sales in Britain of 4.2 billion.

Where will these companies' ill-gotten profits go? They'll add to the over 850 billion of corporate profits already in the bank vaults in Europe or go to shareholders to be stashed in tax-havens for the super-rich, bulging with up to 20 trillion world-wide.

Eric Schmidt will be able to trade in his $72 million yacht and his $42 million jet for even swankier models.

Meanwhile, ordinary people are being driven into depression and suicide as they seek to cut their already meagre budgets in order to pay the bedroom tax, or a fuel bill higher than it needs to be because of the price-fixing of the energy companies.

Dave Cameron, known for his fearless pursuit of comedian Jimmy Carr over his tax avoidance, met Eric Schmidt this week and you would expect that the subject of Google's tax-dodging would've come up.

But no, apparently the issue of tax 'transparency' was only raised in a general fashion in preparation for the G8 group of countries meeting in Fermanagh, Northern Ireland.

Cameron is forced to make a speech from time to time about corporate tax avoidance, so that the Con-Dem government can appear even-handed as they inflict savage cuts and wage freezes on the working class.

But their real attitude is summed up by Tory London Mayor Boris Johnson after Cameron had criticised Starbucks for not paying any tax in Britain: "We should stop bashing wealth creation - such talk is absolute nonsense."

The Con-Dems won't control these huge companies - they are parties of big business. "It's called capitalism" - a system of production for profit and the capitalists will take as much as they can get away with.

We demand that these companies and the super-rich who own and run them should pay their tax and more - they could pay off the deficit tomorrow.

But only by nationalising these companies under democratic workers' control and management will we be able to harness their wealth-producing power to meet peoples' needs and end this economic madness where our jobs, education and futures have to be sacrificed to line the pockets of the super-rich.

Donate to the Socialist Party

Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

  • The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
  • When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
We therefore urgently appeal to all our viewers to donate to our Fighting Fund.

Please donate here.

All payments are made through a secure server.

My donation

 

Your message: 

 


In The Socialist 22 May 2013:


Fight the bedroom tax

End this 'evil bedroom tax'

Anti-bedroom tax federation launched in Merseyside

Bedroom tax campaigning in Leytonstone, Birmingham and Newham


Socialist Party news and analysis

Tories in turmoil over Europe

Big business tax avoidance scandal

Another blow for workfare

NHS staff under the cuts cosh

Them & Us


Socialist Party feature

Fighting cuts in wales


International socialist news and analysis

South African economy: Mass sacking threat demands mass action

Sri Lanka: Isolate the murderous Rajapaksa regime


Socialist Party reports and campaigns

Southampton TUSC rally

Anti-blacklisting campaigner run over

University backs down: students and workers win!

Support for Mid Yorkshire Health struggle in the Mirror

Strike against legal aid cuts

March against the G8

London Socialist Party regional conference


Socialist Party workplace news

Fighting back pays off: Thera East Midlands forced to make concessions

POA conference - Prisons should not be run for profit

Support Carling brewery workers at Burton-on-Trent

Sacked Tesco drivers on the march again

PCS members fight Land Registry privatisation

Firefighters prepare for pensions battle

Workplace news in brief


Readers' comments

Cuts kill: Con-Dem benefit 'reforms', mental health and suicide

Why I joined the socialists


 

Home   |   The Socialist 22 May 2013   |   Join the Socialist Party

Subscribe   |   Donate   |   PDF  |   ebook






Related links:

Tax:

triangleBirmingham Clean Air Zone a tax on the poor

triangleG7 tax deal won't challenge corporate power

triangleReaders' opinion

triangleIs Biden offering a new 'New Deal'?

triangleColombia: Mass trade union-led protests force tax retreat

Big business:

triangleVote TUSC to oppose sleazy capitalism

triangleNationalise Liberty Steel to save jobs

triangleFootball abuse scandal: Reclaim the game for justice and democracy

triangleSuper-deduction will help big business pay less tax

Pay:

triangleSparks win victory!

triangleJohnson's G7 hypocrisy

triangleEnfield byelection: We need councillors prepared to resist

Fat cats:

trianglePrivatisers sue NHS - kick out the fat cats and fully nationalise our health service!

triangle'Fat Cat Friday' shows where all the money's gone

Britain:

triangleSocialist Party black and Asian members discuss history

Capitalism:

triangleCardiff East Socialist Party: Does capitalism really encourage innovation?

News and socialist analysis

News and socialist analysis

16/6/21

Women

Women's health matters

16/6/21

Tamil

Tamil Solidarity asylum victory

16/6/21

Wales

Beth Roper inquest: Train company failures ignored

16/6/21

Vaccine

Make vaccine technology public, nationalise big-pharma

16/6/21

Babies

Neonatal leave introduced: Unions must fight for extensions and full pay

9/6/21

Schools

Fight for the funding our schools and colleges need

9/6/21

Unite

Left candidate needed for Unite general secretary election

9/6/21

Unions

If unions give a lead, workers are fully prepared to fight and win victories

9/6/21

Tory party

Tory splits and infighting growing

9/6/21

Climate change

G7 Can't solve poverty, Covid and climate change - join the struggle for Socialism

9/6/21

Tax

G7 tax deal won't challenge corporate power

9/6/21

Racism

Dea-John Reid murder: Jobs, homes and services, not racism

8/6/21

NHS

'Let's fight to win on NHS pay and funding'

2/6/21

Covid

Capitalism's Covid failings

2/6/21

Union

Unite general secretary campaign: Statement from Howard Beckett

triangleMore News and socialist analysis articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: [email protected]

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 079 8202 1969

East Mids: 077 3797 8057

London: 075 4018 9052

North East: 078 4114 4890

North West 079 5437 6096

South West: 077 5979 6478

Southern: 078 3368 1910

Wales: 079 3539 1947

West Mids: 024 7655 5620

Yorkshire: 078 0983 9793

ABOUT US

ARCHIVE

Alphabetical listing


June 2021

May 2021

April 2021

March 2021

February 2021

January 2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999