Friday, February 7, 2014

Parasite Street

I set up Parasite Street to balance the benefits debate

"Subsidies to the rich cost us much more than benefit fraud." "We have to talk about too-big-to-fail banks that continued to be subsidised by the state to the tune of £38bn per year. About tax avoidance by corporations and rich individuals that costs us £25bn per year year. About the scandal of landlords renting former council homes back to councils at an average premium of £3,000 per year. And we have to talk about poverty pay by rich companies that leaves millions dependent on in-work benefits and tax credits at a cost of at least £1bn per year." "Parasite Street is an indication that people would be angrier about subsidies to the rich, if only they knew."

Posted by doomwatch @ 01:46 PM (2917 views)
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8 thoughts on “Parasite Street

  • Not to mention ‘externalities’ like the ‘food’ and sugary drinks industries causing health damage that’s cleaned up by the NHS (or not), or environmental rape with high social costs. Look at the recent (annual) floods and landslides in ’emerging market’ Indonesia, caused not by rain or high seas but by market fundamentalism that eschews spending on public infrastructure (drainage, pumping, waste management) that would alleviate the flooding and goes instead for anything profitable to the thugs who run things – logging, mining, soil erosion, re-building after floods, developing on city green spaces etc. – while they themselves live comfortably high and dry behind high walls.

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  • I’m usually cheering for the little guy but to say tax avoidance costs us 25bn is just b0ll0x. Anyone who has an ISA is avoiding tax – it’s just using common sense to minimise your liabilities – Corporations just do it on a bigger scale. If politicians were competent enough to make sensible rules we’d have 25bn more income, but that’s not the same thing. The rest I agree with. Would happily hand the most needy 38bn and watch RBS crumble.

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  • It’s not at all. The figure is based on income earned on trading in this country that is shipped overseas to some tax haven, only possible for large international companies. This has nothing to do with common sense and can hardly be compared to ISAs. It’s the exercise of economic power by the powerful to the detriment of everyone else. To me that is corrupt.

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  • It’s anti social capitalism. They should be asbo’ed

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  • The capital power of the capitalised. The capitalism feedback loop.

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  • “White Dee” has become an icon.

    She will soon feature in a Celeb programme. Dancing on Ice in the Jungle, maybe?

    Failing that….Playboy magazine!

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  • LTF – The directors of those companies have not only the right but the legal obligation to minimise their tax liability. Whilst nobody except the shareholders likes what they do, the fact is that they are only playing by the rules which the politicians put in place. It’s the rules which need to change.

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