Month: April 2016

We can haz society? Taxes, democracy & the Panama Papers

What do you need to know about the Panama Papers? Let’s see, people who are richer than most of us can even imagine have an elaborate system to hide the trillions of dollars that we would need to tax if we wanted to, say, maintain our basic infrastructure (e.g., bridges, schools) and, you know, hopefully keep the whole society thing going for a little while longer. That’s on the macro level. On the micro level, we need to know exactly who each of these selfish hoarders is so that we can shame them and demand their resignation from public office. (Iceland’s Prime Minister has already stepped down… let’s see who’s next.) But the Panama Papers are the tip of the iceberg. What you need to know is that rich people tend to want to pay less taxes. Who can blame them? Well, most of us can blame them, actually. And some wealthy people are perfectly happy to pay their fair share in taxes, as they should. In today’s economy, wealth aggregates in the most arbitrary …