"The world is calling for a bold vision of economic justice to counter dislocation and austerity. But since the global economic crisis reasserted its icy grip after a brief Keynesian impasse, world leaders have failed to deliver one. The inability to articulate a narrative beyond a long, hard march out of economic malaise ultimately caused by politicians' and regulators' failure to adequately supervise the financial system is resulting in a widespread disillusionment with mainstream politics that threatens to undermine faith in democracy.

World leaders need to respond quickly, and business must play its role. A good place to start is talking up the idea that there are mechanisms beyond severe budget cuts to eliminate sovereign debt. There is money in the global financial system that, if accessed and used wisely, could go a long way to mop up deficits and reinvigorate the global economy.

That treasure trove is the $3.1tn of tax, equivalent to 5.1% of global GDP, which according to international campaign group Tax Justice Network is illegally evaded in 145 countries, covering 98.2% of the world's population. In December, Washington-based thinktank Global Financial Integrity confirmed the reality of vast sums of cash flowing freely through an unregulated financial system last month. Developing countries, it said, lost $903bn in illicit outflows during 2009 – a year when economic activity was severely constrained.

The majority of these flows are washed through tax havens. These secrecy jurisdictions act as cover from international tax authorities. Disturbingly, the obstacles placed by the global financial system that would allow individual countries to track down and repatriate this cash are prohibitively burdensome. This is why a new age of financial transparency and accountability is required."

(Read more)

No Trickle-Down; No Job Creation; No Honour! Just 1% Greed & Fraud!

Views: 18

Comment

You need to be a member of Occupy Cafe to add comments!

Join Occupy Cafe

Weekly Cafe Calls

Regular Calls are no longer being held.  Below is the schedule that was maintained from the Fall of 2011 through Jan 10, 2013.

Mondays
"Vital Conversations" 

8-10a PDT | 11a-1p EDT | 3-5p GMT 

Tuesdays (except 10/16)
"Connect 2012"

1-3p PDT | 4-6p EDT | 8-10p GMT


Thursdays
"Occupy Heart" 

3-5p PDT | 6-8p EDT | 10p-12a GMT

Latest Activity

Clay Forsberg posted a blog post

"Happy Birthday Occupy Wall Street ... thoughts on Year One"

Fifteen years ago, I ran across a book, "100 Most Influential People in History," during one of my dalliances to my local Marin County bookstore. "Influential People" was one man's assessment on exactly that. But how he determined his rankings was the interesting part. They weren't always the reasons you would think. But after thinking about it, they made complete sense. For example:George Washington was ranked in the top 40 of all time. Understandable. But the reason why ... not so much. You…See More
Sep 20, 2012
Clay Forsberg is now a member of Occupy Cafe
Sep 20, 2012
Vic Desotelle posted a group
Thumbnail

Leadership Ecology

When a Leadership Ecology occurs, a web of relationships emerges revealing each person’s authentic leadership qualities through the transfer of their power to others. When done in a conscious way – a shared collaborative awakening happens.See More
Feb 6, 2012
Vic Desotelle posted a blog post
Feb 3, 2012

Photos

  • Add Photos
  • View All

© 2019   Created by Occupy Cafe Stewards.   Powered by

Badges  |  Report an Issue  |  Terms of Service