LETTER: Look off-shore for hidden wealth

Did you know that the world’s 62 wealthiest people increased their net worth by $1.76 trillion since 2010?

Did you know that the world’s 62 wealthiest people increased their net worth by $1.76 trillion since 2010? Their worth is now equal to the poorest half of this world’s population 3.6 billion people. The poor people have had their wealth decrease by $1 trillion in the same five year period. These rich people now hold $7.6 trillion of untaxed monies in off-shore accounts.

Oxfam Canada has reported that the wealthiest five Canadians have increased their assets by $16.9 billion since 2010 which equals a 44 per cent increase. Their total wealth now is equal to the bottom 30 per cent of Canada’s population, which is 11 million people. According to the World Economic Forum, over 30 per cent of Africa’s financial wealth is being held off-shore, costing the continent $14 billion in needed tax revenue. That amount of money would keep every African child in school.

Not a word about this in the Liberals’ election platform of 2015. Thus, we can expect this thievery to continue. When workers ask for an increase in the minimum wage, the corporations always say they have no money. That’s because all the profits are in tax free off-shore locations. Isn’t capitalism great?

Bob Abrahams, Nelson

 

Just Posted

South Slocan woman killed in Friday crash

Police continue to investigate cause of fatal crash

Ammonia leak shuts down Nelson Curling Club

It’s not yet clear when the leak was detected

Four points for Fawcett as Leafs win 7th straight

Nelson edged the Fernie Ghostriders 4-3

What’s Up: Things to see and do on Family Day

There’s plenty of fun to be had across the West Kootenay this coming long weekend!

Seven Nelson rec projects granted Columbia Basin Trust funding

Nelson’s baseball and tennis clubs were the big winners

Trudeau’s principal secretary, Gerald Butts, resigns amid SNC-Lavalin furor

Butts categorically denies the accusation that he or anyone else in the PMO improperly pressured former attorney general Jody Wilson-Raybould

Lost a ring? This B.C. man will find it for you

Chris Turner founded The Ring Finders, an international directory of metal detector hobbyists

Poverty coalition has high hopes for B.C. poverty reduction strategy

Funding allocation expected to be released with 2019 budget

East Kootenay mine deaths prompt safety initiatives

Teck produces educational video, introduces new procedures after contractor drowns at Fording River

‘How did we get here?’: B.C. mom of transplant recipient worries about measles outbreaks

Addison, 7, cannot get a live vaccine because she has a heart transplant

Bashful Balladeers bring voices to Vernon

Despite hiding behind masks, talent shines with this group

NDP Leader Jagmeet Singh calls for public inquiry over SNC-Lavalin questions

Vancouver member of Parliament Jody Wilson-Raybould resigned from cabinet last week

Canadian airlines waiting for guidance from Ottawa over X gender option

Major U.S. airlines said they will change their process so passengers can identify themselves along non-binary lines

Moose Hide campaign takes message to Canadian schools

Campaign launches new K-12 education platform

Most Read