Modern societies have been dealing with a concerning trend of growing inequality. Nowadays, most of the world’s equity wealth belongs to few people, whom are still the main beneficiaries of offshore tax options – thus contributing to their personal enrichment at the cost of our welfare state. All the taxes these multinationals and ultra-rich have been dodging are transferring the burden towards lower-income households, a logic that hinders the social mobility of these people.
Every country has the right to choose the form of taxation it wants. Plus, business overall does have a positive influence in our society when it is producing wealth, creating jobs and paying their fair share of taxes for the welfare of us all. Socialists need to advocate for more transparency and a fairer system that ensures our prosperity as a whole and not only the success of the few and more inequality.
It is paramount to foster tax justice and ensure that everyone contributes to our society!