The Greek Dilemma

[Mr. Nice Guy]

After reading into the history and current situation unfolding in Greece I couldn't help but to notice the case study it is providing on taxes and the Laffer Tax curve.


Greece's underground economy is estimated at 30% of GDP

Analysts say the recession is exacerbated by deep structural problems. The underground economy is estimated at 30 percent of gross domestic product. Experts say that Greece loses about $17.5 billion annually in unpaid income taxes and $13 billion in unpaid payroll taxes to cover social costs. And with two pensioners for every worker, employment levels cannot sustain social spending.

http://www.nytimes.com/2009/10/03/world/europe/03greece.html?_r=1&ref=world


Now Greece's tax laws are not the most unfriendly in the world, but they are on the unfriendly side of the spectrum.

Greece uses a progressive tax system with the the upper tax bracket being 40% after 75,001 Euros.

The notion that 30% of it's economy is "underground" does raise interesting questions into the example it provides in support of the Laffer Tax Curve.

 

[radiostationrep]

There is no dilemma, you simply put it in the cornhole!

 

[surcaliman]

i thought this thread was about weather to fuck a bitch in the ass or not.