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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