World is rapidly becoming an “international oligarchy”

Bernie Sanders has warned that the world is rapidly becoming an “international oligarchy” controlled by a tiny number of billionaires, highlighted by the revelations in the Paradise Papers. In a statement to the Guardian in the wake of the massive leak of documents exposing the secrets of offshore investors, Sanders said that the enrichment of [...]

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Scotland’s shell firm mess

A UK Government minister has admitted 28,000 notorious Scottish registered “tax haven” shell firms have failed to reveal their true owners’ identities two months after strict new transparency rules came in. The Scottish Limited Partnerships (SLP), which are officially registered to addresses in Scotland but frequently run by anonymous foreign entities, have since August faced [...]

73% of Fortune 500 Companies Used Offshore Tax Havens in 2016

A new study reveals the extent to which companies are using tax havens to avoid U.S. taxes and undermines the case for any tax proposal that would allow companies to repatriate their U.S. profits at a special low tax rate. In 2016, nearly three in four Fortune 500 companies maintained subsidiaries in offshore tax havens, [...]

US govt begging for Las Vegas shooting victims and families

A GoFundMe account created to help the victims of the Las Vegas shooting has seen a tremendous outpouring of support, quickly raising more than $1 million by Monday afternoon. The crowdfunding campaign was created by Steve Sisolak, Clark County Commission Chair from Las Vegas. Sisolak’s initial goal was to raise $500,000, but as of 5 [...]

Even the IMF now agrees that taxing the rich is the only way to decrease inequality

Higher income tax rates for the rich would help reduce inequality without having an adverse impact on growth, the International Monetary Fund has said. The IMF said tax theory suggested there should be “significantly higher” tax rates for those on higher incomes but the argument against doing so was that hitting the rich would be [...]