George Osborne says we can't afford the welfare state. Here are some reasons why.

George Osborne says we can't afford the welfare state. Of course we can't afford it. £70bn pa in tax avoidance, tax cuts ... Someone has to pay for all that and the 147% pa profit made by the train companies. Fire sales of public assets. All those extra billionaires with tastes to match: £20K cocktails (£35,000 at Movida), £330K rounds of drinks, £49mn apartments planned at Battersea Power Station making residents of No 1 Hyde Park look like paupers, £32mn Ferraris, £6mn bras (see pic above), diamond encrusted everything. Not to mention the odd war (check out those politicians' arms portfolios).

According to The Sunday Times Rich List in 2010, after a short dip in the collective wealth of the top one thousand weathiest Brits in 2008, it went up by a third in one year, 30 per cent in 2009 in the wake of the economic crisis. That's over £77bn up to £333.5bn, the biggest annual increase in the 22-year history of The Sunday Times rich list. Worldwide, the 358 people with assets of more than $1bn were worth more than the combined annual income of 45 per cent of the world's population.

There were 447 billonaires in January 2013. The world's richest hundred people could end world hunger now.

Randeep Ramesh wrote in the Guardian in 2011:

"In Britain, a dramatic rise in inequality has been fuelled by the creation of a super-rich class. The (national wealth) share of the top 1% of income earners increased from 7(.01)% in 1970 to 14(.3)% in 2005. ... Just prior to the global recession, the OECD says the top 0.1% of highest earners – accounted for a remarkable 5% of total pre-tax income, a level of wealth-hoarding not seen since the second world war."

Michael Meacher wrote in his open letter to the press in 2012:

" ... the richest 1,000 people make up only 0.003% of the population and yet they have made £155bn extra in the past three years, in the depths of the recession. If they paid off the entire deficit they'd still have £30bn with which to console themselves. Their combined wealth is the highest in history: 1,000 individuals own £413bn, more than a third of Britain's GDP. Their increase in wealth has been £315bn over the past 15 years. Capital gains tax on this at the current 28% rate would yield £88bn, that's 70% of the entire deficit. And yet it's the poorest and weakest who are paying: 77% of the budget deficit is being recouped by public spending and benefit cuts. Only 23% comes from tax increases, and half of that is from VAT which we all pay and hits the poorest hardest. None of the tax increases are specifically aimed at the super-rich."

Not to mention that the Coalition government has borrowed more in three years than Labour did in 13: £430.072 billion compared to £429.975bn.

C'mon, Tamara Ecclestone has to pay for her half a million quid shelf of Birkin bags somehow.

Listen to The Super Rich with Aditya Chakrabortty, Kate Belgrave and Charles Shaar Murray on Madam Miaow's Culture Lounge, Resonance 104.4FM.

John Kampfner on the history of the super rich.

From Vice magazine: The Seven Reasons Why Super Rich British Tax Dodgers Don't End Up in Jail.

A 2014 report by the Equality Trust revealed that the poorest 10 percent of British households pay eight percent more of their income in all taxes than the richest; 43 percent compared to 35 percent. And that's before tax avoidance schemes have been taken into account. What the rich fail to put in, the rest of the country must cover in taxes like income tax and VAT.

A few facts and figures challenging the Tory economic narrative

A few facts and figures to slash a path through the thicket of misinformation perpetrated by greedy swine who'd make the poor pay for their tax cuts.

Gleaned from The Sunday Times Rich List figures, the collective wealth of the UK's 1,000 richest rose 30 per cent in 2009 in wake of economic crisis. The combined wealth of the top 1000 rose by over £77bn to £333.5bn, the biggest annual increase in the 22-year history of The Sunday Times rich list. The cost of benefit fraud is £1bn. Unclaimed benefits amount to £16.5bn. Estimated tax owed to us: £70bn. Sunday Times Rich List published 2010. The Daily Telegraph reports Britain's richest sees wealth rise by one third.

Another nugget I stored away ...

From 1997 to 2007 the average income of the top 1 per cent of UK earners increased from £187,989 to £301,325 – an increase of just over 60 per cent (income of the top 0.1 per cent almost doubled).

The increase in the tax contribution by the top 1 per cent, from 21 per cent in 1997 to 26 per cent now, means that their contribution is around 23 per cent higher (or 28.5 per cent if you go with the 27 per cent current figure), relative to what they were paying in 1997.

Either figure is far less than the increase of at least 60 per cent (and probably considerably more) in their incomes. The wealthiest are now paying substantially less toward our national upkeep than they were 15 years ago, relative to their wealth.

When is the penny going to drop that the bedroom tax is actually draining the public purse?

For the sake of argument, tax expert Richard Murphy takes the Tories' claim that the punitive bedroom tax saves £500mn and points out that this is less than the cost of shoving £200 per year at married couples via the new marriage allowance, estimated at some £600mn.

However, we all know — especially now that SPeye's on the case — that the bedroom tax is an expensive indulgence of Tory sadism and yields no saving. It would be cheaper if we bought them their very own Miss Whiplash sessions.

Britain's Top 1000 Rich List could pay off deficit just from last 3 years profit: Michael Meacher letter

I've banged on about this before, but here's another reminder of how much wealth there is sloshing about in Great Britain.

MP Michael Meacher's letter to the press has been doing the rounds and points out that the richest 1,000 people make up only 0.003% of the population and yet they have made £155bn extra in the past three years, in the depths of the recession. If they paid off the entire deficit they'd still have £30bn with which to console themselves.

Their combined wealth is the highest in history: 1,000 individuals own £413bn, more than a third of Britain's GDP.

Their increase in wealth has been £315bn over the past 15 years. capital gains tax on this at the current 28% rate would yield £88bn, that's 70% of the entire deficit. And yet it's the poorest and weakest who are paying: 77% of the budget deficit is being recouped by public spending and benefit cuts. Only 23% comes from tax increases, and half of that is from VAT which we all pay and hits the poorest hardest. None of the tax increases are specifically aimed at the super-rich.

Meanwhile. the bankers and feral mega-elite who powered the crash and are still trashing the economy have "not been made subject to any tax pay-back whatever commensurate to their gains".

The decision to target the poor, stop paying benefits to the sick and needy, to starve our NHS into sickness and submission, to pay rail owners huge subsidies and allow utilities to carry on charging what they want, is political. It has nothing to do with national debt. This is the mega-rich moving in and swallowing up everything.