"Hippy heads on pikes? Kinky. I like that!"
Posted on 02/11/2010 5:44:23 AM PST by dynachrome
Investors withdraw up to €10bn from Greece as government prepares tax crackdown to cut down deficit
staggering €8bn-€10bn (£7bn-£8.7bn) may have been taken out of Greece by private investors since it became engulfed by economic turmoil in November.
Under pressure from the European Union and international markets to rein in the nation's €300bn debt, socialist prime minister, George Papandreou, announced last week that he would have to enforce tough deficit-cutting measures. But the coming austerity package is leading panicked wealthy Greeks to divert their savings out of the country.
(Excerpt) Read more at guardian.co.uk ...
Related, no doubt
“Greece to levy 40 percent tax rate on more earners”
http://www.freerepublic.com/focus/f-news/2446668/posts
Otherwise known as a “reverse bailout”.
Good for the Investors...these Socialism cesspools of the EU need to be starved of Free $$, the better to get them destroyed.
A ‘tax crackdown’, eh? That’ll go well.
When you keep handing out free skittles, sooner or later you run out of them.
If this is what drinking socialist kool aid does to a nation,then the U.S. is not exempt either.
This is treason!
That leaves room for China when they punish us by selling off American debt.
/s/
"Hippy heads on pikes? Kinky. I like that!"
“A ‘tax crackdown’, eh? That’ll go well.”
I can see it now....10s of 1000s of new government tax collectors, and then announce that unemployment has fallen....
This money bug out is probably money hidden from the Greek tax collector. Greeks don’t like to pay taxes.
Greece and its people are both wonderful, but the people have some weaknesses. They have become complacent and the development money the European Community advanced them lulled Greeks into a hedonistic and “me” “me” view on life. Debt from their Olympics didn’t help either. They kicked out a right leaning government for a leftist one last year so the party on life could continue. Well, the party is over and the drinks bill is unpaid.
It’s time for the Greek people to tighten their belts, start working harder and saving harder. Public employee jobs will have to be looked at and the fat cut. Greeks don’t want this to happen and will have a lot of strikes and work stoppage days. Throwing stones at police may work off some anger, but is not an economic solution. The violence and strikes will deter tourism which will further tank the Greek economy. Let’s hope a Greek leader in government or labor or both will step forward and speak the truth to the Greek people.
Don't they know that Greece must borrow its way to prosperity?
They obviously need their own Magic Negro and a Biden-flavored sock puppet to ride to their rescue.
The truth in Greece is the same truth everywhere. High taxes and profligate government spending are always the road to economic ruin. High tax countries always have high levels of tax evasion. Look at Italy, Greece, France etc. In fact if you look at the Hauser curve generated by examining US tax revenues after WW2 you will see that the federal government gets about 19% of the GDP regardless of large variations in the marginal tax rate. The conclusion is obvious, after a certain point, wealth creators will hide income or elect to make less income as demonstrated by the Laffer curve.
Reducing taxes AND reducing spending is the only way to promote prosperity. Prosperity is the only way to provide for the most vulnerable in any society whether through private charities or government programs.
Greece may have cultural variations from the US but sound economic policy can work virtually anywhere.
I think that’s the play for the Obamunist regime. That explains why the IRS has been acquiring so many new shotguns with 14” barrels. That’s usually what you find on ‘entry’ class weaponry of that sort. A word to the wise.
Glad we got our M1 Super 90’s so long ago and got good with them. 7+1, semi-auto, no waiting.
Ping.
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