The One Per Cent hide their money offshore – then use it to corrupt our democracy

[Image: Steve Bell in The Guardian.]

[Image: Steve Bell in The Guardian.]

David Cameron does not participate in the UK economic system – but presumes to tell the rest of us how it should be run. That isn’t right.

As a man who is constantly talking about having to “do what is right”, he has a choice:

Either he re-enters the tax system endured by all the rest of us – along with his rich mates, business bosses, hedge fund managers and the firms they have taken offshore, or…

He quits as UK prime minister, immediately.

Protesters gathered in their thousands outside Downing Street to demand David Cameron's resignation yesterday (April 9). This image sums up public feeling.

Protesters gathered in their thousands outside Downing Street to demand David Cameron’s resignation on April 9. This image sums up public feeling.

What’s it to be, Dave? “All in it together”, or out on your ear?

At root, the Panama Papers are not about tax. They’re not even about money. What the Panama Papers really depict is the corruption of our democracy.

Following on from LuxLeaks, the Panama Papers confirm that the super-rich have effectively exited the economic system the rest of us have to live in.

Thirty years of runaway incomes for those at the top, and the full armoury of expensive financial sophistication, mean they no longer play by the same rules the rest of us have to follow. Tax havens are simply one reflection of that reality.

Discussion of offshore centres can get bogged down in technicalities, but the best definition I’ve found comes from expert Nicholas Shaxson who sums them up as: “You take your money elsewhere, to another country, in order to escape the rules and laws of the society in which you operate.” In so doing, you rob your own society of cash for hospitals, schools, roads…

But those who exited our societies are now also exercising their voice to set the rules by which the rest of us live.

The 1% are buying political influence as never before. Think of the billionaire Koch brothers, whose fortunes will shape this year’s US presidential elections.

In Britain, remember the hedge fund and private equity barons, who in 2010 contributed half of all the Conservative party’s election funds – and so effectively bought the Tories their first taste of government in 18 years.

In my politics lessons, we were taught that Britain was a representative democracy. But what 30 years of plutocracy have brought is an era of un-representative democracy. With a few exceptions, our politicians no longer resemble, nor do they work for us. Amid a crisis in the rental market, you have a housing minister, Brandon Lewis, who runs a private rental portfolio. You have a former investment banker, Sajid Javid, now claiming to do his best by the steel industry. And you have a super-rich prime minister who vows he’ll take on tax havens, all the while blocking any serious attempt to do so.

Source: The 1% hide their money offshore – then use it to corrupt our democracy | Aditya Chakrabortty | News | The Guardian

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7 thoughts on “The One Per Cent hide their money offshore – then use it to corrupt our democracy

  1. Brian

    Decades ago, the French developed their own methods of dealing with such systemic power abuse.

  2. Mr.Angry.

    Never truer words written, something has to give it can’t continue in it’s present form.

    Cameron the posh car salesman can’t tell the truth about anything it’s outside his remit, arrogance oozes from him at every stage.

  3. jeffrey davies

    pension pots they robbed jobs they robbed benefits they robbed but most of all they robbed many of their life by denial of benefits jeff3

  4. mrmarcpc

    The tories don’t believe in democracy, it’s not the right wing way, their way is to take as much as they can from the people and the state for themselves, erode all rights and liberties away because they’re fascists who don’t believe in any of that, their purpose is to screw us continually and take until there’s nothing left to take!

  5. Marie

    The Panama Papers is just another distraction and divide and rule tactic regarding the haves and have-nots. GOVERNMENT and the belief in that master/slave illusion is the real issue! The 1% want to stay as “house slaves”….so whatever they have to do to the field slaves is fair game. Until we WAKE THE FLOCK UP and see we are all slaves to a sick “Powe-over” system…..nothing will change. Wake up kids and lets cut this crap!!!!!!!

  6. David

    This government must be the most corrupt ever – certainly since the war. It no longer bothers to pretend to democracy – Osborne’s budget showed that and Cameron’s demeanor since the Panama revelations has, frankly, been disgusting. He has clearly lied about his finances and money stashed away. These are things Cameron would like to remain ‘Private, i.e. Secret.’ He doesn’t mind paradeing he disabled child’s death and his dear old dad – matters which should be private, but used publicly for political capital. He has literally put two fingers up to us over the last week or so and I bet he, or another tory, will win the next election. We are beiong fleeced by a tiny minority of the super rich and corrupt politicians like Putin and endless, unelected heads of state. But Cameron, Osborne, Gove and the rest of this cabinet of crooks are Thatcher’s spawn. We should deal with them. Just thinking of the corruption and hypocrisy of this evil and incompetent government makes it impossible for me to write more.

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