banks, ethics, taxes

Bee's picture
Tue, 02/22/2011 - 21:00 -- Bee

Like certain multinational banks, I have "complex tax issues."

Unlike certain multinational banks, I "pay taxes."

I'm an American citizen by birth and British by residency, and as such am compelled to pay national taxes in each country. Since I own properties and work in both places, I also pay local tax in whichever borough, county, or constituency I fetch up in.

I am not exaggerating: all grown members of my family keep a daily log of their whereabouts and file taxes with relevant authorities, year after monotonous year. In 2010 alone that included three countries and half a dozen American states. Not to mention miscellaneous sales tax I would never apply for relief from, as I am already hassled with excessive amounts of paperwork.

In fact, the more we earn, the less we have, because of the tax rate, and because flitting about is expensive. Painful? Oh, yes. Also correct, lawful, and for the common good. I could live in a place with a lower tax rate. I could stick with one place and never budge. But I chose this life, and I accept the consequences.

Yet, gee whiz, do our intentionally international banks share a similar burden? Why no. They do not.