There is another way in which we can be “all in it together”:
• £121 billion is mostly owed to the taxpayer by wealthy companies
and individuals:
– through avoidance £25 billion a year
– through evasion £70 billion a year
– uncollected tax £26 billion a year
This equates to around 81% of the deficit if it were pursued.
• In 2009 alone the richest 100 increased their personal wealth
by $77 billion from 258 to £335 billion. By leaving each with
a billion pounds, the remaining £235 billion could be put to good use
on behalf of the nation.
• Raising Corporation Tax for the top 4% of British companies
to G7 average would give £3.9 billion a year.
• Lowering the 50% income tax band from £150,000 to £100,000
would bring in an extra £2.3 billion a year.
• Introducing “Banker Taxes” would get at the £7 billion paid out as bonuses
in just the first quarter of 2011.
• A “Robin Hood Tax” – a 0.05% tax on banks’ financial transactions would bring in £20 billion a year.
• Getting rid of Trident nuclear weapons that will never be used would save £1.5 billion a year.
So where to go to avoid more tax – let the little people take the flak
Exploiting tax loop holes down in Jersey and in Monaco or box it up at a Swiss PO
But if you played your part for your country – NO NEED FOR CUTS AT ALL
So we say:
Tax the richer down
Reclaim every pound
Tax the richer
Cos they’re not in together
So who d’you know? I’ll evade more tax – get my friends in power to turn their backs
So I’ll just carry on dodging paying billions back and laughing all the way with my friends in the banks
But if you worked in the nation’s interest – NO NEEDS FOR CUTS AT ALL
So we say:
Tax the richer down
Reclaim every pound
Tax the richer
Cos they’re not in together
Hit the companies owing tax and those evading tax because they’re “not in it together”.
I’ll leave these shores
If I’m forced to pay back what’s yours
My only loyalty is to me and me and me
For I’m the traitor now
(BUT THERE IS ANOTHER WAY…)
Quadruple the number of Revenue staff to collect the billions of unpaid tax
Cap the wealth of the richest one percent to improve education and the Nation’s Health (Service)
Windfall-tax unloyal corporates, raise Corporation Tax to the G7 rates
Lower the band of highest income tax from £150k to £100 grand
People’s banks for the people’s finance – take control from reluctant bankers
Tax transactions at a minimal rate – bonuses only through social consent
This is how to address the cost of unfettered greed and weak governance
If we shift the burden from the poorer to the richer
THERE’S NO NEED FOR CUTS AT ALL
So we say:
Tax the richer down
Reclaim every pound
And for the companies that are dodging the Crown
Chase them round and round
Tax the richer
Make them pay their pound of flesh today
Hit the companies owning tax or evading tax because they’re “not in it together”.
No, they’re not in it together, no.
