- Jason Hinkel writes that for as much attention as global inequality has received in recent years, it may be significantly more of a problem than we've previously assumed - and getting worse as time goes by:
It doesn’t matter how you slice it; global inequality is getting worse. Much worse. Convergence theory turned out to be wildly incorrect. Inequality doesn’t disappear automatically; it all depends on the balance of political power in the global economy. As long as a few rich countries have the power to set the rules to their own advantage, inequality will continue to worsen. The debt system, structural adjustment, free trade agreements, tax evasion, and power asymmetries in the World Bank, the IMF, and the WTO are all major reasons that inequality is getting worse instead of better.- Meanwhile, Thomas Piketty writes that the aftermath of the Panama Papers represents the perfect time to crack down on tax havens.
It’s time we face up to the imbalances that distort our global economy. There’s nothing natural about extreme inequality. It is man-made. It has to do with power. And we need to have the courage to say so.
- Aaron Hutchins exposes how Canada is regularly used to anonymize income for the purposes of tax avoidance, while Justin Ling looks into Canada's pitiful record of investigating and prosecuting tax evasion. And Mainstreet finds a whopping 81% of Canadians agree that the rich aren't paying their fair share - meaning there's plenty of demand for both far more enforcement than we've seen to date, and a more progressive tax system to begin with.
- Betsy Powell and Jennifer Pagliaro examine the schemes used primarily by developers to get around Toronto's political donation limits - while noting that there are some obvious fixes available to the extent anybody's committed to reining in those abuses.
- Finally, Colin Horgan raises one of the questions which the NDP should be working on resolving at this weekend's convention and beyond - being what role a political party should actually play.