NEWS ANALYSIS - For a "new economy": tax havens must be abolished

Saturday, 16 January 2021 economy   society   civil society   politics   international politics  

Rome (Agenzia Fides) - "The abolition of tax havens is an absolute priority as they are an inequality tool that the weakest countries always pay for. In 2013, the Credit Suisse bank released a chart known as the 'Pyramid of Inequality', showing that 91.7 % of the world's population only had access to 17% of the wealth this year, while 0.7% of the population reached 41%. This picture, which already seems pretty merciless, has actually become an almost benevolent representation, because from 2013 until today Inequality between rich and poor, between those who do not pay taxes and those who are harassed is actually widening. It is therefore clear how necessary a fiscal pact is: it would redistribute wealth and create a system of putting money back into circulation. We always hear that there is a lack of resources, but the reality is that there is an estimated $ 21,000 to $ 36,000 billion hidden in tax havens. A solid fiscal policy based on progressive taxation would make it possible to put all this wealth back into circulation and use it for the production of common goods".This is what Nicoletta Dentico, expert in international cooperation and global health explains to Agenzia Fides, offering a reflection on the strategies and meaures to be taken to build the "new economy" promoted by the "The Economy of Francesco" initiative. [ - continues]