I have jumbled together my thoughts in
order to publish this article. I have a nagging concern emanating from
within my very bones causing me great consternation.
I am
increasingly worried, even alarmed as to the well being of the
developing communities. For some time now the so called 3rd world has
enjoyed a period of catch up in their living standards, standards that
we take for granted and often abuse in the west. However, these
countries that are behind the curve have a long way further to go to
achieve a welfare state such that say the UK or France enjoy, although
some would argue as to how much long those two countries can afford the
systems that they have in place, but that’s another story.
My concerns are simple; in order for the global economic
circle to be complete then money has to be recycled, otherwise we all
grind to a halt at which time we return to the caves and the tree’s from
whence we came. Can that be a bad thing, in all honesty we would then
experience a sense of belonging, a community would form where
camaraderie would become the currency of the moment. However, we are
far from such a place, but in my opinion we are dangerously close to a
form of anarchy unless an economic paradigm shift does not soon come our
way.
The questions that I ask myself are simple:
1) How long can the world, better still countries of the world be
able to govern their citizens if wealthy individuals are able to rob the
tax coffers of the incumbent treasuries? In a prestigious corner of
London there is an area known as Knightsbridge, a glitzy place, which is
home to the famous store Harrods. I am told, as a point of reference
that the plush apartment building, recently built by the Candy
Brothers, which overlooks Hyde Park in the heart of Knightsbridge London, with each apartment retailing at a mere £38M / $60M. The UK
treasury levies a stamp duty tax on all purchases of UK property. This
Stamp Duty tax can range between 2.5% - 4% depending on the value of the
property. However, due to a legal loop hole each of the wealthy
purchasers were able to avoid said “Stamp duty” tax which at an average
2.5% this is a significant loss to the public coffers causing a hole in
the UK finances which means that us mere mortals are expected to cover
the void.
2) I have recently heard that Greece has been
encouraged to forfeit Saturdays as a holiday day making the working week
a 6 day week. Such a move appears to have sparked a debate in other
countries of the EU with the suggestion that these other countries
should follow suit and make Saturday a working day. Here the debate
becomes interesting; captains of industry, entrepreneurs alike are
rubbing their hands in glee at such a prospect, to make Saturday a
working day would hand the employer a productivity bonus. So simply
put; the same people who use aggressive tax avoidance schemes will be
handed on a plate another 10 hours of productivity totally free of cost.
Sorry, it is inconceivable to look at this forfeit as a solution
without first addressing some of the core issues.
3)
Perhaps the most distressing concern of all; given that we all know that
the US has driven the world economy by ensuring that their hard earning
dollars are spent, thus making the economic miracle a reality for all
of us, but they have done this by becoming seriously in debt! They
cannot continue to prop up the world economy without a similar model to
theirs emerging in another corner of the globe.
However,
with one caveat, what is so alarming is this; 50% of the world’s wealth
sits with 2% of the population. I don’t know what that says but it sure
as hell cannot be healthy to have so few people squirreling money away
at such an alarming rate, such that they have a hard time spending the
interest generated from such wealth.
4) We all have heard
such stories like; we mustn't tax the rich as they will take their
business elsewhere, thus exporting jobs. Sorry I really don’t buy this,
we are a global economy with a population that is all born equal, money
is not a tool in which to lord it over us and to contain us as slaves
to the rich. Governments have a duty to ensure that individuals are
responsible with money and now ensure that it continues to circulate,
governments step up to the plate and ensure that funds flow around to
all.
A person’s ability to understand facts and figures
or that they are born into families with wealth or aristocracy does not
mean that the bread that they eat should be better than the bread of
others. As an example some individuals are high achievers in the
financial houses others are high achievers in cancer nursing. What
entitles an east end barrow boy whose has made good on the dealing floors of Morgan Stanley, to have a better life than say a nurse
offering respite in a hospice?
5) Perhaps the most
poignant of all, who ever invented money, they surely must never have
envisaged that money would hold greater sway over government and
government’s policy than the electorate that they are there to serve.
I have rambled on here but I am in need of a wake up call, I
must be missing the point, for me I am one of Maggie’s children and have
been a beneficiary of the capitalist world and practices, but I now
believe that Capitalism has had its day and we must surely find a way to
bring us all back into balance. Otherwise who will care for the rich
in their dying days – silly question as they can pay for care so who
will care for us the other 98%.
Politicians get real you
are abdicating power, our lively hoods, our ability to enjoy life’s rich
tapestry to a few attendees of the Davos elite. If capitalism has a
future then put some of the 50% held by the 2% back into circulation.
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