Wealth Doesn’t Trickle Down – It Just Floods Offshore, Research Reveals
10th April 2016
James Henry, a former chief economist at consultancy McKinsey and an expert on tax havens, has conducted groundbreaking new research for the Tax Justice Network campaign group – sifting through data from the Bank for International Settlements (BIS), the International Monetary Fund (IMF) and private sector analysts to construct an alarming picture that shows capital flooding out of countries across the world and disappearing into the cracks in the financial system.
Now, if you think that research conducted by any organization called ‘Tax Justice Network campaign group’ would find anything else, or that Voice of the Crust The Guardian would publish it, I’ve got a bridge in Brooklyn I’m just sure you want to buy. (Does anybody actually believe this drivel? Somebody must, or they wouldn’t spend good money — well, socialist money — publishing it.)
Note the automatic assumption that money ‘flooding offshore’ isn’t ‘trickling down’. From people who spend their daylight hours bleeding over all of the Pitiful Poor People of the Third World, you’d think they would be delighted. But I guess not.