A Quote by Sri Mulyani Indrawati
Changing much-cherished bank secrecy laws is worth the effort. Corruption, tax evasion, and the capture of natural resource revenues undermine the rule of law, weaken the social fabric, erode citizens' trust in institutions, fuel conflict and insecurity, and hamper job creation.
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Tax avoidance and evasion by the rich undermine democracy by starving social programs and public services. They also send a message to ordinary citizens that the rules of the economic game are rigged against them.
The rule of law means that law and justice are upheld by an independent judiciary. The judgments of the European Court of Justice have to be respected by all. To undermine them, or to undermine the independence of national courts, is to strip citizens of their fundamental rights. The rule of law is not optional in the European Union. It is a must.
Torture can destroy the social fabric of communities, degrade a society's institutions, and undermine the integrity of its political systems.
The IMF and the World Bank, the most opaque and secretive entities, put millions into NGOs who fight against "corruption" and for "transparency." They want the Rule of Law - as long as they make the laws. They want transparency in order to standardise a situation, so that global capital can flow without any impediment.
Our international banking system allows banks to accept funds gained from tax evasion and other crimes and thereby facilitates and encourages embezzlement by public officials, especially in developing countries, as well as tax evasion and tax avoidance by multinational corporations.
The two greatest priorities for my government are tackling tax evasion and corruption.
I would never want to pass a law limiting freedom of speech, but that doesn't mean we have to condone statements that undermine basic national unity and respect. Imagine being asked to defend a country where some citizens say the man in the White House isn't their president. Or a major presidential contender accuses the commander in chief of not even being a U.S. citizen. Those kinds of statements erode trust in our democracy, and it's up to both parties to publicly reject them. We have to restore confidence that we are a nation that loves and believes in itself.
Corruption, money laundering, and tax evasion are global problems, not just challenges for developing countries.
The poverty we see in America is now too widespread, and too complex, for easy fixes. But I do think we can reimagine many of our institutions and can create new ones in ways that would be effective. We could, for example, create social insurance systems, similar to social security, such as that we went through in 2008-9. We could create a financial transaction tax, oil profit taxes and a fairer estate tax system, and we could plow much of the revenue raised from these into job training programs, into better education infrastructure, into an expanded Earned Income Tax Credit.
Let me be clear: Those who seek to undermine our democratic institutions, indiscriminately destroy our businesses and attack our law enforcement officers and fellow citizens are a threat to the homeland.
You are smart people. You know that the tax cuts have not fueled record revenues. You know what it takes to establish causality. You know that the first order effect of cutting taxes is to lower tax revenues. We all agree that the ultimate reduction in tax revenues can be less than this first order effect, because lower tax rates encourage greater economic activity and thus expand the tax base. No thoughtful person believes that this possible offset more than compensated for the first effect for these tax cuts. Not a single one.
I think the gap between the rich and the poor is a dangerous phenomenon in Russia and it needs the attention of the state. The only reasonable way to correct the situation today is not to go after big businesses, but to give breathing room to medium and small businesses. That means protecting citizens and small entrepreneurs from arbitrary rule and from corruption. It means investing the revenues from the national natural resources into the national infrastructure, education and health care. And we must learn to do so without shameful theft and embezzlement.
We are witnessing the beginning of one of the great tragedies of history. The United States, in a misguided effort to reduce its oil insecurity by converting grain into fuel for cars, is generating global food insecurity on a scale never seen before.
When you have police officers who abuse citizens, you erode public confidence in law enforcement. That makes the job of good police officers unsafe.
The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a hard tax to evade. So it makes the job of raising revenue easier. The revenues from the VAT can then be used to lower taxes on income and saving and investment. The Value-Added tax doesn't penalize work or saving; it's a tax on buying stuff.
I wholeheartedly support the aspirations of the Ukrainian people for a democratic, free and just society where the rule of law prevails without corruption or government violence directed against citizens.
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