Paradise Papers: Storm in a teacup yet another distraction from what?

The so-called "Paradise papers" were relesed this week, detailing the financial dealings of the rich elite. Much wailing and gnashing of teeth from the haters, saying it's immoral not to pay tax, or to reduce reduce their tax bill by taking advantage of the various loopholes in the tax law.

Well sorry, it's not illegal to do any of what has been described so far. It may be immoral, but immorrality seems to be everywhere doesn't it, even in Parliament. Just look at the various sexual allegations in the past week.

The thing that galls me is those pious people throwing stones, like the Guardian and certain Labour MPs, themselves forget they or their agents are using the self-same offshore mechanisms to reduce their tax bill and increase profits. Rank Hypocrisy, everyone in the elite is doing it.

Of course you have to be earning a certain amount to be able to take advantage of these tax dodges; the likes of you and me, the ordinary person on the street had our own loopholes closed decades ago.

The heinous IR35 rules introduced by the previous Labour government, declaring independent contractors as employees and subject to tax, continues to cause controversy and stifle self-employment for the masses.

Now self-employed NHS workers are being targeted in a crack down, at a time when the NHS can ill-afford to lose good people. But lose them they will, just as the I.T. sector I used to work in before IR35 came into being crushed the independent I.T. contractor sector. Back then it was about crushing the more flexible and adept independent contractors in favour of the big I.T. companies. The ones that fucked up a huge amount of government I.T. contracts and cost the taxpayer billions.

As it is, a large number of independent contractors either left the country for fairer climes (tax and weather-wise), or left the industry altogether. I'm one of the latter.

A huge loss of resource to the UK I.T. market and a boon to America in particular and other countries like the Middle East.

The same will happen when the governemnt eventually bows to this latest media shitstorm and starts to crack down on offshore business accounts. The tax take will take a nose dive just like it did back in the seventies with 95% tax rates. We've been here before: the politics of envy do not work and making anyone a cash cow just pushes them away, or they collapse. People will just become tax exiles and probably not come back when they find out how shit the UK is to live in compared to other countries.

I don't normally do this country down, but really: forcing people to Monaco, the Middle East or the USA. Do you really think that people would come back? Well, okay from the Middle East maybe, but the rest? Nah. My nephew has a great life working in I.T. in America. He wouldn't have half the quality of life if he moved back here.

But hey, force the innovators gifted and the intelligent away from the UK. Whats the worst that can happen?

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