Ordinary people need to talk
About trusts
Wealthy people - the top1% - have been hiding assets and income in trusts to avoid paying taxes for generations.
What is that about?
Across the world, assets held in trusts are thought to exceed US$2 trillion, and taxes avoided this way each year in each and every western nation is in the many billions of dollars.
The urgent upgrades to energy infrastructure required for these countries, and others, to become carbon neutral would easily be covered by these amounts.
Why not make the trust economy, that has profited for so long at the expense of citizens who do not cower away from taxes, become the funders of climate change solutions. by:
1. all countries making laws to ban trusts that have no obvious purpose other than tax avoidance; and
2. using the consequent deluge of tax into government coffers to fix up the energy grids of the world.
This would fast track energy infrastructure needs, and once power grids are carbon neutral, a lot of other problems go away:
Electric cars run on sunshine, not electricity generated by power grids reliant on fossil fuel.
All that money we spend on energy efficiency can be spent on other stuff, because, well, who cares about how much power you use when you are running it off a clean grid?
Not to mention alleviating poverty and disease.
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