Income Inequality Worsens: Ranks Of Millionaires Swell As Poor Tread Water

The world’s richest 300 people control more wealth than the poorest 3 billion, according to a new report.

In this Oct. 6, 2011 file photo, Carol Gay, of Brick, N.J., holds a sign saying "Tax the Rich," as several groups including the Peoples Uprisings, October 2011 Coalition, and Occupy DC, "occupy" Freedom Plaza in Washington. (AP Photo/Jacquelyn Martin, File)

The world’s richest 300 people control more wealth than the poorest 3 billion, and the gap continues to grow, according to the latest report issued last month by the Capgemini wealth consultancy and the Royal Bank of Canada. Data in the World Wealth Report 2013 shows that millionaires across the world increased their holdings by 10 percent in

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London Exposed: Are the Walls Crumbling Around The World’s Tax Haven?

The City of London’s secrecy is entrenched like medieval walls, protecting the wealth of its barons.

Secrecy is crucial for tax havens and corporate tax evasion. Without it fraud can be prosecuted, money laundering revealed, corruption calculated and justice applied. The City of London’s secrecy is entrenched like medieval walls, protecting the wealth of its barons. Information about how corporations dominate government and public bodies,

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UK Lawmakers Seek End To Corporate Tax Avoidance

British lawmakers on Monday accused major multinational companies including Starbucks, Google and Amazon of immoral tax avoidance, while Starbucks announced it is reviewing its British tax practices in a bid to restore public trust. Parliament’s public accounts committee said the government should “get a grip” and clamp down on multinationals that exploit tax laws to […]

A man walks out of a Starbucks coffee cafe holding a drink in west London, Monday, Dec. 3, 2012. (AP Photo/Alastair Grant)

British lawmakers on Monday accused major multinational companies including Starbucks, Google and Amazon of immoral tax avoidance, while Starbucks announced it is reviewing its British tax practices in a bid to restore public trust. Parliament's public accounts committee said the government should "get a grip" and clamp down on multinationals

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Starbucks: Yet Another Global Company Accused Of Massive Tax Avoidance

Starbucks has paid just £8.6m in UK taxes over the last 14 years according to a special report by Reuters. The news agency also reports that the Seattle firm has paid no income tax whatsoever in the past three years despite reporting sales of £1.2bn and telling investors that its UK arm is profitable. Starbucks is the […]

A coffee cup with the Starbucks Coffee logo. (Photo Yehohanan92 via Flikr)

Starbucks has paid just £8.6m in UK taxes over the last 14 years according to a special report by Reuters. The news agency also reports that the Seattle firm has paid no income tax whatsoever in the past three years despite reporting sales of £1.2bn and telling investors that its UK arm is profitable. Starbucks is the second largest global

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Despite National Crackdown On Whistleblowers, IRS Relying On Informers To Report Tax Fraud

(MintPress) — The Internal Revenue Service (IRS) is increasingly relying upon the whistleblower program to investigate cases of tax evasion and fraud. While estimates vary, wealthy U.S. citizens could be hiding up to $5 trillion in offshore accounts, according to a Senate report published in 2008. By providing rewards for successful indictments, the government could significantly reduce the […]

In this Jan. 8, 2010 file photo, Bradley Birkenfeld, a whistleblower in the tax evasion case against Swiss bank UBS AG, pauses during a press conference outside the Schuylkill County Federal Correctional Institution in Minersville Pa, before reporting to the federal prison. (AP Photo/Carolyn Kaster, File )

(MintPress) — The Internal Revenue Service (IRS) is increasingly relying upon the whistleblower program to investigate cases of tax evasion and fraud. While estimates vary, wealthy U.S. citizens could be hiding up to $5 trillion in offshore accounts, according to a Senate report published in 2008. By providing rewards for successful indictments,

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As GOP Touts Fiscal Prowess, Figures Show Taxing Rich Could Erase Deficit

(MintPress) – As the Republican National Convention (RNC) gets under way, Republican presidential candidate Mitt Romney got a dose of the tone he’ll soon face when workers took to the streets of Tampa to protest against job outsourcing being exercised by Bain Capital. While sound bites about women’s health and sexuality have dominated the headlines […]

House Budget Committee Chairman Rep. Paul Ryan, R-Wis. introduces Republican presidential candidate, former Massachusetts Gov. Mitt Romney before Romney spoke at the Grain Exchange in Milwaukee, in this April 3, 2012 file photo. (AP Photo/M. Spencer Green, File)

(MintPress) – As the Republican National Convention (RNC) gets under way, Republican presidential candidate Mitt Romney got a dose of the tone he’ll soon face when workers took to the streets of Tampa to protest against job outsourcing being exercised by Bain Capital. While sound bites about women’s health and sexuality have dominated the headlines

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