Archive for May 23, 2015

‘Shocking’ revelation finds $5.3tn subsidy



Well, of course, this is shocking but nothing new to capitalism.  Most of our major industries leave billions of Pounds/Dollars, whichever currency, of pollution and waste for governments to clean up and finance from taxes. Then, to heap insult onto injury, over the last century especially, western legislatures have granted favourable tax breaks for corporations and the wealthy who in turn own the companies being subsidised. Nice work if you can get it. Is it any wonder that:  “The total wealth of the richest 1,000 individuals and families in Britain has more than doubled in the last 10 years to £547bn, the survey reported.

There are now 117 billionaires on the list, up from 104 in 2014, with 80 of them living in London.”