Posted on 03/20/2013 6:10:25 PM PDT by 2ndDivisionVet
According to Rick Newman of US News and World Report, America’s consumer confidence continues to rise, and their out of pocket spending has been solid. Yet credit card spending has not risen, and incomes have not risen either. So what’s going on? Newman explains: “The answer may lie in the large ‘underground’ economy that doesn’t show up in official statistics.”
In others words, Americans, tired of taxation, may be engaging in an enormous black market. Newman quotes Bernard Baumohl of the Economic Outlook Group stating, “We suspect the destructive nature of the last downturn and the prolonged weak recovery pushed a record number of people into that murky world of cash transactions.” The American black market economy may comprise between 8 and 14 percent of total Gross Domestic Product. In California, the country’s leading tax-and-spend state, over $6.5 billion in taxes may be lost thanks to the black market.
Across the globe, failing tax-and-spend economies breed gigantic black markets. Italy’s black market supposedly covers some 20 percent of its economy. The same is true in Spain......
(Excerpt) Read more at breitbart.com ...
Well, why don’t you just openly tell the government how to shut down the few means of surviving this economic apocalypse?
Other things come to mind too.
Take ammunition. Tough to buy. Why? Hoarding for later resale
Right now, iit makes no diff what ammo you buy. Buy it even if you don’t have that caliber gun
You can always trade it for what you want
Blackmarkets exist where governments engage in over-reach.
We could see this decades ago.
Exotic immigration has brought in foreign ways of making money and a different culture in regards to honesty and taxes and complying with the law.
Many of us have seen some pretty incredible new things in businesses as routine as gas stations, such as only being able to accept cash for years, or quick marts with empty shelves for many years, or knowing why home invasions started with Asian business owners.
[hand in air] I know, I know! The cashless society!!
“Americans, tired of taxation, }
Maybe also the increase in food stamps, etc is because people are gaming the system and claiming poverty when they really aren’t...they’re just hiding in the underground.
Estimates are that illegals are only 1 or 2% of the underground economy. Look at Hispanic (and other) cash workers who aren’t illegal. Many don’t want SS taken out of their paycheck so they take cash.
I’ve spoken with liberals who consider the “black market” to be any untaxed transaction.
“The murky world of cash transactions”. That’s the windup, folks. Here comes the pitch.
As the ruling class has their nose to the grindstone figuring out new revenue streams the populace is finding ways around it. When you tax above what people deem fair this will happen.
I’m sure Mr. Obama and his posse are in agreement.
I bet the black market of the tax evaders is no where near as large as the black market of the tax spenders: food stamps, medicaid pain drugs...
Craigslist certainly wiped out classified advertising in newspapers. I’m old enough to remember when there were whole sections devoted to job adverts and automobile adverts.
In California, the country’s leading tax-and-spend state, over $6.5 billion in taxes may be lost thanks to the black market.
Oh. All that new age agriculture. Too bad it's not taxable, eh?
Millions of dollars of lost state sales tax opportunity due to restrictive laws will continue to drive more business underground. And the more people who learn how they can profit in an underground black market economy with no records kept, the taxman will suffer the consequences.
The restrictive, and nosy governments have no one to blame but themselves.
I council everyone I can on to avoid taxes. I have friends who do car repairs, haircuts, lawncare, etc.. much of which is under the table.
If I could, I would get foodstamps myself. I am tired of the Gov’t taking my money, and my getting nothing in return - and in fact, treating me like an enemy.
Its my own “cloward-piven” strategy.
I couldn’t even get food stamps after surviving Hurricane Katrina. I wish I was kidding.
Some cool and useful items that hold more than 10 items can be successfully printed using 3-D printing. Hmm.
the amount of untaxed business that occurs on line is staggering.
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