So I'm watching the news this morning. And the big story on the BBC was the G20. And the big story OF that story, was the leaders of the G20 changing Tax Laws worldwide, so that corporations can't move profits around to keep their money.
OK, I understand that.
But what pissed me off, was the verbiage used in the story. They kept using terms like "tax dodging", "tax cheating", and even "tax evasion". THEN, the financial guy went on to say the G20 countries are doing this in concert, because they NEED the money.
They went on to point out that countries like Ireland, who have rebounded over the last decade because of their TAX FRIENDLY attitudes, will mostly likely be 'irrevocably damaged'. But this WILL benefit Third World countries, mostly in Africa (HUH?) because profits moving around and being spent, will always help the little guys. (HUH?!?!!!)
There is SO much here that's wrong headed that it's hard to cover it all without writing a book.
First and foremost, WHY is it that profits will trickle down to AFRICAN countries when profits get moved around and tax laws change? But it won't work that way in AMERICA when the same tax changes are suggested here? Here's some verbiage I like.
But the short of it, is that companies moving money is a system the governments SET UP, trying to out wit and beat each other in an attempt to GET more companies into their tax areas by lowering taxes, thus getting a little less up front, but getting that little bit less, from MORE companies on the back end, hoping to fill the coffers!
Companies cheating, evading and dodging didn't used to happen, not like it does now, according to the Beeb finance guys anyway. But the companies are ONLY doing what the G20 countries set up in the first place, trying to steal business from each other. So how is it then, that the companies are doing anything wrong? IMHO, if it's LEGAL, it's not cheating, evading nor dodging! Those are words you use for ILLEGAL operations, not systems of international business, set up BY the same idiots, who are now complaining about it.
But the true BS in ALL of this is the word "NEED".
If there is a country in the G20, who has a 'need' for the money, I don't know WHO it is. The group of them are ruining the world economy, not because they have an unmet 'NEED', but because they have stupid, unending, self-serving SPENDING. And their answer to filling the gap, is to have the companies, GIVE them the profits they worked for. Which means taking it from the stock holders and employees, which usually means lay-offs and unemployment and problems passed BACK to the guys who created the problems.
The governments of the G20 Nations. And what an insufferable bunch of idiot assholes they are!