System is rigged for the rich so the poor borrow to get poorer –

Published by Chris Oestereich on

The problem with this story – apart from the lack of fairness of it all – is that if these funds are allowed to move their money out of the country, the Irish tax base gets narrower. When your own state actively narrows the tax base, if the state wants to maintain the level of public services, it has to tax those who can’t avail of these tax avoidance schemes much more.

As well as looking at the fairness of these tax loopholes, I want to talk about the average citizen who can’t avail of these taxavoidance schemes whether they are for vulture funds or companies like Apple. I want to show how the system is rigged for the rich and how by just standing still, the already rich get richer and the poor get poorer.

I will do this by looking at the realities of debt in the modern western economy because debt is driving everything, in particular it is driving inequality which is forcing people to vote for extreme candidates like Trump.

-David McWilliams