Let’s Stop the Redistribution of Wealth!
Conservative, libertarian and neoliberal arguments often accuse progressives of trying to “redistribute wealth” by taxing the rich and giving the money to the poor. Let’s be honest, over the past few decades, there has indeed been a redistribution of wealth in USA, based in part on changing tax rates. A Wall Street Journal article from July 23, 2008, explained how there has been a trend in recent years where the wealthiest 1 percent of Americans have seen their income rise faster than any other group of earners in the country while at that same time, the tax rate for the top 1…
Cayman Islands to Disclose Tax Shelter Companies
After decades of secrecy, the tax-haven country is considering a public database that will make the names of thousands of previously hidden companies and their directors, public. CIMA, the three-islands’ monetary authority has outlined plans to create a public database of funds domiciled on the island for the first time, reports The Telegraph. The island nation is a group of three islands; Grand Cayman, Little Cayman and Cayman Brac in the Western Caribbean Sea. The country is a British dependent territory and has gained popularity around the world for its offshore financial centre. The Cayman Islands is the world’s fifth…
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