Economy

The Hidden Wealth Of Nations: The Scourge Of Tax Havens Gabriel Zucman University of Chicago Press 2015, 129 pages Criminal heists do not come any bigger than the global theft every year by the ultra-rich of about US$200 billion courtesy of the off-shore tax haven banking industry. The Panama Papers has grabbed headlines, but in The Hidden Wealth of Nations, Gabriel Zucman, economics professor at the London School of Economics and Political Science, also takes a close look at the famous tax-evading practices in Switzerland.

Right-wing protests hit the streets of Caracas and other cities across Venezuela — and in some cases turned violent, attacking police and other targets. The protests were part of a May 18 national day of action to demand that electoral authorities speed up the process of scheduling a recall referendum against left-wing President Nicolas Maduro. The national mobilisation came after right-wing leader Henrique Capriles gave a press conference on May 17 in which he invoked violence and called for the country's armed forces to “pick a side”.

Duncan Storrar, the man who dared to ask a question about tax thresholds on ABC TV's Q & A program on May 9, has thanked Australians for their support and criticised the Murdoch press after he was villified in News Corp newspapers the following week. A GoFundMe crowdfunding campaign in the following days raised more than $60,000 for Storrar, after he questioned the Coalition government's tax policy, introducing himself as someone with a "disability and a low education".

The federal Coalition government is planning to hold a referendum in 2017 on Constitutional Recognition of Australia’s original inhabitants. So far the campaign consists of establishing the Recognise campaign, in a bid to educate Australians about the importance of the recognition referendum. The government has already funded the Recognise campaign to the tune of $15 million, and promised another $15 million in this year’s budget. At the same time, it has cut funding to Aboriginal medical centres, Aboriginal legal services and other Indigenous programs and services.

Zebedee Parkes, an activist in Sydney’s Refugee Action Coalition and member of Socialist Alliance prepared this for Green Left Weekly. 1. Asylum seeker protests in Nauru detention centre for more than 60 days Protests in the Nauru detention centre started on March 20 and have now continued for more than 60 days in the face of hostility from guards and attempts to stop messages from getting out to the world.

With polls showing growing support for the Greens and independents, the powers-that-be and their media hacks are becoming increasingly hysterical. For the 1% and their supporters, the prospect of the July 2 double dissolution election delivering a hung parliament is the worst of all possible worlds. Uncertainty threatens their profit margins and means political and economic chaos — a nightmare for the ruling class that has had it so good for so long.

The committee campaigning against the proposal to establish a Western Sydney Airport at Badgerys Creek met on May 12 at Blacktown Council Chambers to discuss their plans to oppose the new airport. It decided to begin an extensive education campaign, involving leafleting western Sydney, taking the issue to local schools where pupils will experience disruption and letter box drops.

One good thing about being out of the country for a while is not having to listen to the lies of the Coalition and Labor. We know that on every occasion they lie to get into power. They take no responsibility for the carnage they cause in their quest to see who can be the biggest slaves to corporate Australia. The Socialist Alliance is running myself, Susan Price, Sharlene Leroy-Dyer and Howard Byrnes in the NSW Senate. Peter Boyle is running for Tanya Plibersek's seat of Sydney. As Brother Kev Carmody's song goes: “From little things big things grow”.

As protests continue in Brazil over the Legislature’s vote to suspend President Dilma Rousseff and put her on trial, Noam Chomsky told Democracy Now!: "We have the one leading politician who hasn’t stolen to enrich herself, who’s being impeached by a gang of thieves, who have done so. That does count as a kind of soft coup."

A group of over 800 international academics and intellectuals from around the world, calling themselves "Humanity Against the Coup in Brazil" released a statement on May 16 condemning the ouster of Brazilian President Dilma Rousseff by right-wing elements. The statement says that Rousseff's ouster on May 11 was an "imposed coup d'etat by a questionable and corrupt Congress."

Venezuela's socialist president Nicolas Maduro told a crowd of supporters on May 15 that to increase productivity and help alleviate scarcity of basic products facing the South American nation, all businesses and factories closed down by their owners would be seized and handed over to their workers so production could be restarted. “A stopped factory [is] a factory turned over to the people,” Maduro said. “The moment to do it has come, I'm ready to do it to radicalise the Revolution.”

Last year, Puerto Rico's governor announced it simply did not have the money to repay its US$72 billion debt — on bonds owed mainly to US financiers. On May 2, the US's Caribbean colony defaulted on $400 million that was due on that day. A further $2 billion is due on June 1.