The Socialist

The Socialist 14 April 2021

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The Socialist issue 1129

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How to deal with the tax-dodging mega-rich? Nationalise!

Photos: reynermedia, Steve Jurvetson, Scott Lewis, all CC

Photos: reynermedia, Steve Jurvetson, Scott Lewis, all CC   (Click to enlarge)

Amy Sage, Bristol north Socialist Party

Global media company Forbes recently published its 'World's Billionaires List'. When compared with Unicef's prediction that 140 million children will fall below the poverty line as a result of the pandemic, the global inequality it reveals is beyond staggering.

While millions have been pushed into poverty and destitution, the likes of corporate bosses Jeff Bezos, Elon Musk and Mark Zuckerberg have seen their personal wealth surge over the past year - adding $5 trillion to their bulging pockets.

And it's not only the wealth of those existing billionaires that has expanded, the list itself has grown by nearly 500.

The capitalist media like to venerate these people, describing those such as anti-union Amazon boss Bezos as 'innovative' or as a 'good business man', while ignoring the fact that delivery drivers for his own company were being forced to urinate into plastic bottles because of pressure to meet deadlines.

What Forbes doesn't mention is the millions of workers who are exploited by these so-called 'self-made' billionaires in order to allow the latter to achieve their obscene levels of wealth, some of which are comparable to the wealth of entire countries!

Capitalist politicians, perhaps afraid that such stark inequality may spark anger among the working class, threatening their position, have responded with no more than token efforts to redistribute wealth.

US president Joe Biden, for instance, has proposed a global minimum tax which would end the '30-year race to the bottom on corporate tax rates' and help fund basic services and investment through increased tax revenues.

This proposal would be targeted at the largest and most profitable 100 companies in the world in an attempt to stop them from shifting their profits to low-tax countries, regardless of where their sales are actually made.

But even if a global tax rate were introduced, it would not be nearly enough to address the inequalities that have been highlighted and exacerbated by the coronavirus.

What we really need is these mega-corporations to be fully nationalised and brought under the democratic control of the working class, so that those who actually produce these enormous levels of wealth decide what should be done with it.

Just imagine what could be achieved for all if the wealth of the mega-rich on the Forbes' list was in our control!

In this issue


'Covid passports' discriminatory and questionable - fight for workplace safety

Covid inquiry? Workers must decide


Tensions escalate in Northern Ireland

How to deal with the tax-dodging mega-rich? Nationalise!

NHS pay: reject Tories' miserly 1% 'offer' - Fight for full 15% rise

Amazon - union vote lost

Tory hypocrisy over housing benefit cut

US cops shoot dead another black man


Every voter in Wales has the opportunity to vote for TUSC

TUSC: Launching a working-class electoral alternative in London

London housing crisis: vote TUSC to fight back

Workplace news

PCS elections: Support the Broad Left Network for a democratic, fighting union leadership

St Mungo's maintenance workers on indefinite strike

Thousands of London bus workers strike across multiple companies

Rally for sacked RMT rep Declan

East London cleaners fight outsourcing and redundancies

Bristol Water workers walk out

SPS Technologies workers end strike after management backs down

Thurrock Council workers strike against pay cuts

Deliveroo workers strike and protest

Lessons from history

1920s-30s Britain: A working-class movement fighting unemployment and capitalism

Campaigns news

Youth under attack

Students in action: Protest on 21 April

Why you should join the Socialist Party

Cardiff: Hundreds protest to free Siyanda

Worcester: Kill the Bill

Fighting fund target smashed. Can we do it again?

Readers' opinion

The Socialist Inbox


Home   |   The Socialist 14 April 2021   |   Join the Socialist Party

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14 April 2021