Rich list hoarders could pay off entire deficit with £30bn to spare

[Tony Gosling]

Britain’s 1,000 richest persons made gains of £155bn in last 3 years
April 29th, 2012
http://www.michaelmeacher.info/weblog/2012/04/britains-1000-richest-persons-made-gains-of-155bn-in-last-3-years/ 

http://www.911forum.org.uk/board/viewtopic.php?p=161039#161039

The Sunday Times Rich List, published today and 
compulsory reading for anybody who wants to 
understand Britain’s power structure today, holds 
three extremely significant conclusions. One is 
that the 1,000 richest persons in the UK have 
increased their wealth by so much in the last 3 
years – £155bn – that they themselves alone could 
pay off the entire UK budget deficit and still 
leave themselves with £30bn to spare which should 
be enough to keep the wolf from the door. The 
second, even more staggering, is that whilst the 
rest of the country is being crippled by the 
biggest public expenditure and benefits squeeze 
for a century, these 1,000 persons, containing 
many of the bankers and hedge fund and private 
equity operators who caused the financial crash 
in the first place, have not been made subject to 
any tax payback whatever commensurate to their 
gains. This is truly a government of the rich, by the rich, and for the rich.

The third is that despite the biggest slump for 
nearly a century, the slowest and most anaemic 
recovery, and prolonged austerity stretching to a 
decade or more, this ultra-rich clique are now 
sitting on wealth even greater than what they had 
amassed at the height of the boom just before the 
crash. Their combined wealth is now estimated at 
more than £414bn, equivalent to more than a third 
of Britain’s entire GDP. They include 77 
billionaires and 23 others whose wealth exceeds £750m.

Despite these massive repositories of wealth, 
these are some of the very people to whom Osborne 
gifted £3bn in his recent budget by cutting the 
50p tax rate. That measure alone gave 40,000 UK 
millionaires an extra average £14,000 a week, at 
the same time as those on very low incomes in 
receipt of working tax credits who couldn’t find 
an employer to increase their hours of work from 
16 to 24 a week were being deprived in the same 
budget of £77 a week, around a third of their 
income, through their tax credits being withdrawn.

In 1997 the wealth of the richest 1,000 amounted 
to £99bn. The increase in their wealth over the 
last 15 years has therefore been £315bn. If this 
increase in wealth were subject to capital gains 
tax at the current 28% rate, it would yield 
£88bn, and that alone would pay off more than 70% 
of the total budget deficit. However Osborne 
seems to share the notorious view of the New York 
heiress, Leonora Helmsley: “taxes are only for the little people”.






















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Cast out Hypocrisie and Lust, which follows whores:
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