Tag Archives: Rich

In the U.S. 49.7 Million Are Now Poor, and 80% of the Total Population Is Near Poverty

From politicalblindspot.com

If you live in the United States, there is a good chance that you are now living in poverty or near poverty. Nearly 50 million Americans, (49.7 Million), are living below the poverty line, with 80% of the entire U.S. population living near poverty or below it.

That near poverty statistic is perhaps more startling than the 50 million Americans below the poverty line, because it translates to a full 80% of the population struggling with joblessness, near-poverty or reliance on government assistance to help make ends meet.

In September, the Associated Press pointed to survey data that told of an increasingly widening gap between rich and poor, as well as the loss of good-paying manufacturing jobs that used to provide opportunities for the “Working Class” to explain an increasing trend towards poverty in the U.S.

But the numbers of those below the poverty line does not merely reflect the number of jobless Americans. Instead, according to a revised census measure released Wednesday, the number – 3 million higher than what the official government numbers imagine – are also due to out-of-pocket medical costs and work-related expenses.

http://politicalblindspot.com/us-poor/

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New Zealand identified as pivotal in world’s rich hiding their money

From William McGregor

Key says his country is a footnote in the Panama Papers … REMEMBER – Key STARTED in the Banking Industry before he rose to power (& position) to create the “Haven” for the RICH to hide their wealth in SECRET hidden Trusts!
He boasted that he never drew a wage while he was Prime Minister; that he DONATED his pay to charity ….
What’s the odds that his wage went to the “J.Key’s Charity Fund”, one of the many HIDDEN Trusts that all rich people have access to?!
THINK! ……
If his wealth was 5 million back in 2008 (when he became Prime Minister), and it was at 55 million when he bailed out of Politics in 2016, and he wasn’t drawing a wage – WHERE THE HELL DID THE DOLLARS COME FROM?!
And he is taking over the reigns to the A.N.Z. Bank next year.

May you receive your “just reward” J.Key; you’ll NEVER be a “Knight” in my eyes ….
While your “thumb’s up”, hitch a ride out of Aotearoa; you’re no Kiwi!

 

from abc.net.au

Panama Papers: New Zealand identified as pivotal in world’s rich hiding their money

Posted

New Zealand is at the heart of a tangled web of shelf companies and trusts that are being used by wealthy individuals to channel funds around the world, according to a report based on leaks of the so-called Panama Papers.

A joint report by Radio New Zealand, TVNZ and investigative journalist Nicky Hager analysed more than 61,000 documents relating to NZ, part of the massive leak of offshore data from Mossack Fonseca, a Panama-based law firm.

The papers have shone spotlight on how the world’s rich take advantage of offshore tax regimes.

Mossack Fonseca ramped up its interest in using NZ as one of its new jurisdictions in 2013 by actively promoting it as a good place to do business due to its tax-free status, high levels of confidentiality and legal security.

The company’s main contact in NZ was allegedly Robert Thompson, co-founder and director of accountant firm Bentleys New Zealand, the registered office of Mossack Fonseca New Zealand, according to the report.

READ MORE

http://www.abc.net.au/news/2016-05-09/panama-papers-new-zealand-identified-as-pivotal-for-hiding-money/7396342

Key wants to turn New Zealand into a haven for the 1%

When our PM was elected, well pre election particularly, he was the smiling new guy on the block who took the young Maori girl to Waitangi that year – a great publicity stunt, currying favour with Maori.  I’ve read recently the young woman who accompanied him to Waitangi now sees clearly through his motive. With regrets perhaps? We’ve seen now how much he really respects indigenous interests – they don’t go down to well in the corporate world & Key is a banker. Then we’ve all heard the rumour put out that he donates some/all (?) of his PM salary away because of his wealth from his banking career – turns out that is likely myth not fact as no concrete proof has been forthcoming yet. People have asked. Were it factual he could give it to the school lunch cause, and he’s made it clear that’s not going to happen. Anyway there were many clearly sucked in by his smiling clean image who are now severely disillusioned. The image he promoted was ‘working for NZ’ which couldn’t be farther from the truth. Here in this article that thought is teased out a bit with the claim he is working for the 1%.

Copy of john key2

The wealthy. All escaping the carnage they’ve created abroad, John’s happy for them to hide out here with their wealth, offering great corporate tax breaks, the new Switzerland, whilst our own smaller biz people go the harder route. Of course this behaviour’s all old hat now the TPPA deal’s been signed by yours truly who also says he’s forging ahead regardless, ratified or not, definitely borne out by the fascist tactics employed in his recent roadshow ‘hearing’ what the people think aka telling us what they plan to do, the familiar tune we’re hearing up and down the country these days. We are asked our opinion after the fact, given two ticky boxes to choose from and expected to believe we’ve ‘had a say’! (I feel a Tui ad coming on). By all accounts folks who tried to raise meaningful discussion were talked down.

The article’s from the Standard and cites Fran O’Sullivan’s thoughts on the matter, clearly confirming whom our PM is working for.

Last month Key was named by National Business Review’s 2008 Rich List as one of New Zealand’s richest men, with a personal worth of $50m.

Key lives in an $8m Auckland mansion with wife Bronagh and their children Stephie and Max. He also owns property in Wellington and Omaha, a London apartment and a $4.5m holiday home in Hawaii.  Stuff.co.nz   10/08/08

EnvirowatchRangitikei

[PHOTO Credit – header: The Green Party]


 

Key wants to turn New Zealand into a haven for the 1%

WrittenBy:

There was an interesting article by Fran O’Sullivan in last weekend’s Herald about John Key’s ambitions for New Zealand.  O’Sullivan may not be liked by some lefties but she writes perceptively and provides insight into National Party thinking that no other journalist does.

The headline suggests that Key wants to make New Zealand the Switzerland of the South but a closer reading shows that he does not want to make it a place where everyone is prosperous, educated and healthy.  Rather he wants to make New Zealand a bolt hole for the overseas rich.

From the article:

“John Key is positioning New Zealand as an Asia-Pacific “Switzerland” – a beautiful and wealthy bolthole for high net-worthers seeking to escape from an unstable world.

Key believes that free-flowing terrorism is here to stay. To the Prime Minister, this simply makes New Zealand more attractive and will result in more high net-worth consumers wanting to come here – a theme he is developing in business briefings.

There is another strand to this developing Key mantra.

He is frankly unapologetic about the massive increase in Auckland residential property values, which has resulted in many established Aucklanders becoming relatively rich, but younger people being locked out of the market. It is a trend which is not going to stop anytime soon, given the immigration figures.”

So Key wants to attract more wealthy people to New Zealand as the rest of the world implodes.

READ MORE:

 

http://thestandard.org.nz/key-wants-to-turn-new-zealand-into-a-haven-for-the-1/

Why are the rich getting richer?

An enlightening three minute clip from the Positive Money YT channel on why we have inequality. It’s a mythical illusion that all can succeed under capitalism and a short review of the literature on that, looking beyond all the spin, will prove it. The documentation of the proponents of this monetary system tell us quite clearly that scarcity and the inability for all to succeed is what’s required for it to run successfully… for those at the top of the pyramid that is.

Published on Aug 2, 2013

http://www.positivemoney.org/issues/i…
Our money system guarantees that inequality will get worse — Here is the evidence:
http://ow.ly/qbCdr

1. The current money system distributes money from the bottom 90% to the top 10%

Because 97% of the money in the UK is created by banks, someone must pay interest on nearly every pound in the circulation. This interest redistributes money from the bottom 90% of the population to the very top 10%. The bottom 90% of the UK pays more interest to banks that they ever receive from them, which results in a redistribution of income from the bottom 90% of the population to the top 10%. Collectively we pay £165m every day in interest on personal loans alone (not including mortgages), and a total of £213bn a year in interest on all our debts.

2. It transfers money from the real economy to the banks

Businesses are also in a similar situation. The ‘real’ (non-financial), productive economy needs money to function, but because all money is created as debt, that sector also has to pay interest to the banks in order to function. This means that the real-economy businesses – shops, offices, factories etc — end up subsidising the banking sector.

3. It transfers money from the rest of the UK to the City of London

Banks pay their staff out of their profits, which in large part comes from the interest they charge on loans. Because most of the high earning bank staff work in the City of London, this results in a geographic transfer of wealth from the UK to those working in the City of London.

4. The instability that the system causes means that temporary and low-paid jobs are insecure

When banks cause a financial crisis it leads to unemployment. It tends to be low-paid and temporary contract workers who are the first to get made redundant first, so that instability in the economy has a bigger effect on those on low incomes with insecure jobs.

5. High house prices increase inequality

When house prices are pushed up by banks creating money, those on low incomes suffer the most. People on low incomes often can’t get a mortgage big enough to buy a house, so they don’t benefit from the rise in house prices. Meanwhile, those who can get access to mortgages can buy multiple houses for buy-to-let and benefit from artificial inflation in house prices. Younger people also lose out, as the cost of buying their first house swallows an ever larger amount of their income, while older and retired people who own houses benefit. This all increases inequality across different income groups and between the young and old.

Help us change the money system!

Our debt-based money system is fuelling inequality. By taking the power to create money away from banks, we can reduce inequality and make the economy more stable.
http://www.positivemoney.org/issues/i…
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