Everything Is Trickle-Down Now
Be warned, “If you tax them they’ll leave.” If they leave the crumbs won’t trickle down! Please give us a few crumbs, sir!!!!
This post was first published at Government Cheese – Chronicling the collapse of democracy, because it belonged there.
“Trickle-down” thinking – the idea that “growth” is driven by the rich, not by regular people with money to spend – led to competition for the crumbs that fall off the table where the wealthy feast. Cut taxes & wages & regulations, then businesses and the wealthy will come to you. So other states/countries cut their taxes & wages & regulations even more to get them back. Soon the wealthy have everything.
Democracies Defunded
Democracies have been defunded by tax cuts and competing “trade” deals, and the .01% have literally all the wealth in the world. So the only way to keep things going is to try to get the rich to park their wealth with you in hope some of it might “trickle down.”
So you set up a tax-dodging haven to “compete’ with other tax-dodging havens. You will make THEM poor so you can get the few crumbs that fall off the table.
If You Tax Them They’ll Leave
Be warned, “If you tax them they’ll leave.” If they leave the crumbs won’t trickle down! Please give us a few crumbs, sir!!!!
Everything is “trickle down” now! Everyone is betting everything on hope “they” will “invest” some of the wealth they took and you’ll be able to have some infrastructure or education or healthcare… (Of course, “they” will be getting their “return” for that. So even more gets drained away. But that’s tomorrow and you are desperate today.)
Now It’s Turkey
Now Turkey is offering special tax dodging “incentives” to “compete” to get those with vast “undeclared” wealth to bring it there because, “Dubai and Abu Dhabi, recent magnets for international wealth, have been tested by the US war in Iran and localized attacks, shaking their status as regional safe havens.”
Turkey seeks to capitalise on strategic location to attract the rich from London & Dubai
Ankara recently announced it’s ushering in a range of tax incentives for monied expats and investors abroad.
“… Turkey is seeking to capitalize on its strategic location to attract more rich residents as instability hits rival wealth hubs from London to Dubai.
The country recently announced it’s ushering in a range of tax incentives for monied expats and investors abroad, ranging from minimal inheritance tax, the chance for 20 years of overseas income free from local levies and an amnesty program to bring in undeclared assets held overseas.
[. . .] The new policies arrive at a sensitive time for some rival finance centers. Dubai and Abu Dhabi, recent magnets for international wealth, have been tested by the US war in Iran and localized attacks, shaking their status as regional safe havens.”
Just read the rest. It’s disgusting. This has been going on so long that even imagining democracy and the idea that the public can be in charge of things is gone.