... whilst big firms and the ultra rich can get away with tax evasion and avoidance on a wholescale basis which could easily go a long way to paying off this national debt that everyone is talking about.
So how much money is lost through tax evasion by the ultra rich then?
And how big is the deficit that needs to be plugged?
Total tax evasion is approx £15bill a year (by comparison benefit fraud on which there is A LOT of focus is estimated at £1.1bill). IRS has done really welll in clawing quite a bit of that money back though. (Approx 7bill in 2007 according to one report)
Also bear in mind that companies like Voda are officially not classed as tax evaders...They just settle whatever megabill they have for a fraction of the value so can be classed as Tax avoidance (which cost approx £70bill a year)
http://citywire.co.uk/money/tax-evasion-costs-treasury-15-times-more-than-benefit-fraud/a378274
http://www.newstatesman.com/blogs/the-staggers/2011/11/tax-avoidance-justice-network
Now can we STOP linking the pensions debate to this tax debate? Everyone payinga bit more tax does not make the current public pension system sustainable.