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From The Socialist newspaper, 15 May 2019

Rich list thieves

Take the wealth off the super-rich

Billions for them, cuts for us, photo torbakhopper (Creative Commons)

Billions for them, cuts for us, photo torbakhopper (Creative Commons)   (Click to enlarge)

Lindsey Morgan, Leicester West Socialist Party

The top 1,000 wealthiest individuals and families in Britain are sitting on a record 771.3 billion, up 47.8 billion in a year. This astonishing fact is in this year's Sunday Times Rich List.

At the same time millions of children from working families are living in poverty, more than a third of babies are living below the poverty line, and workers up and down the country are engaged in battles against poverty pay. The accumulated hoarded wealth of the super-rich, stolen from the value created by workers' labour, is beyond unfair.

It is clear that wealth isn't 'trickling down'. In fact, the working class is forced to fight for the scraps from the bosses' table. This is why we need the Tories out!

Under the headline 'Age of uncertainty rattles the super-rich', the Sunday Times details conversations with Rich List grandees. They say the election of Corbyn as prime minister would lead to 'Corbygeddon' - and that some are taking steps to move wealth abroad.

The Times has long been the mouthpiece of the capitalist class. Even the positive but relatively limited demands that Corbyn has proposed have rattled the wealthy.

Tax

In response to the Rich List Corbyn has proposed that the top 1,000 should declare the tax they pay. This is a welcome proposal that would enable deeper scrutiny of the wealth of the richest, and would impact the ability of HM Revenue and Customs to allow so-called 'sweetheart deals' through which the capitalist class avoids paying high rates of taxation.

In research conducted for the PCS union the tax gap equates to a loss of 120 billion a year to the government. To reclaim this could be a huge step forward. A higher tax rate, as proposed by Labour, would also be positive.

But faced with the prospect of paying higher taxes, many bosses will move their wealth abroad. This is why we need to fight for a general election and for a Corbyn-led anti-austerity government, but with socialist policies that include nationalising the banks and major corporations that dominate the economy. We can't control what we don't own.

Wealth inequality is a fact of capitalism. Measures to narrow the gap through reform are seriously limited without mass working-class struggle to fight for more. This wealth that has been stolen from workers can only be won back long term by the organised working class.

We need to unite, strike, and fight together for the socialist transformation of society where big business is owned and democratically planned for all. It is the only true end to the obscenity of wealth inequality here and abroad.

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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.

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In The Socialist 15 May 2019:


News

Take the wealth off the super-rich

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

Workload-related mistakes by GPs on the rise - health unions need to fight back

Knife crime tragedy linked to council cuts

Them & Us


What we think

Bosses fear revolt against capitalism


Workplace news

Mitie workers striking against poverty pay

Birmingham home care strikers close to victory!

Newham gas workers' strike threat

Usdaw united on need for fightback - now keep pressure on for action

End high-stakes testing in primary schools: build the boycott ballot!

PCS union officialdom splits vote, removes Chris Baugh - but is still rejected by members

Honda bosses confirm Swindon closure: Unite must signal it will fight


International socialist news and analysis

Revolution and counter-revolution in Sudan


Socialist Party reports and campaigns

Trump UK visit: Protest against the billionaire bigot

Palestinian solidarity demo


Climate change

Profit system rapidly destroying environment

Socialist policies needed to halt climate disaster


Opinion

May 1649 - the Last Stand of the Levellers

The Socialist Inbox


 

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Related links:

Super-rich:

triangle1,600 less benefits if your job goes - while super-rich splash cash

triangleThem & Us

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

triangleTories out - we need socialism!

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triangleNationalise to save jobs threatened by Covid-19 and downturn

triangleImmigration: For a system that meets the needs of the majority, not a rich elite

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Poverty:

trianglePoverty rises again - especially for BAME workers

Inequality:

triangleOver 30% of children living in poverty

Capitalist:

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Economy:

triangleWorkers and young people need planning for jobs, not handouts for bosses

Taxes:

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HM Revenue and Customs:

triangleVital local strikes and a national pay ballot - vote for a fighting leadership

Anti-austerity:

triangleLabour Party leadership contest: Fight for a mass anti-austerity, workers' party with a socialist programme

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