What surprises have been revealed by the so-called Panama Papers scandal? That people go to great lengths to reduce their taxes? Surely we already knew that. One interesting lesson, though, is that people think recovering that extra “lost” tax revenue would make a difference.
…even if the money hidden offshore were paid in taxation, it does not follow that public services such as schools would improve proportionately. After all, it cannot be for lack of expenditure that a significant proportion of British children are semiliterate after eleven years of compulsory attendance at school.
I have always wondered why a person can be said to have paid taxes if their income is 100% derived from government expenditures. In reality they are just putting some of our tax money back in the pot.