Greece used CDS to hide its budget deficits to get in the EU. Courtesy of Goldman Sachs. Without the help of GS in hiding the budget deficits and debts, Greece would have never been allowed to join the Eurozone. The it appears that the wealthy are all lying about their income to not pay taxes.
When tax authorities recently surveyed the returns of 150 doctors with offices in the trendy Athens neighborhood of Kolonaki, where Prada and Chanel stores can be found, more than half had claimed an income of less than $40,000. Thirty-four of them claimed less than $13,300, a figure that exempted them from paying any taxes at all.
Such incomes defy belief, said Ilias Plaskovitis, the general secretary of the Finance Ministry, who has been in charge of revamping the country’s tax laws. “You need more than that to pay your rent in that neighborhood,” he said.
He said there were only a few thousand citizens in this country of 11 million who last year declared an income of more than $132,000.
Yep the default of Greece it seems has to do more with Greedy rich people not paying their taxes, and once again Goldman Sacs, cooking Greece's books, and walking away with large sums of cash for doing so.
When tax authorities recently surveyed the returns of 150 doctors with offices in the trendy Athens neighborhood of Kolonaki, where Prada and Chanel stores can be found, more than half had claimed an income of less than $40,000. Thirty-four of them claimed less than $13,300, a figure that exempted them from paying any taxes at all.
Such incomes defy belief, said Ilias Plaskovitis, the general secretary of the Finance Ministry, who has been in charge of revamping the country’s tax laws. “You need more than that to pay your rent in that neighborhood,” he said.
He said there were only a few thousand citizens in this country of 11 million who last year declared an income of more than $132,000.
Yep the default of Greece it seems has to do more with Greedy rich people not paying their taxes, and once again Goldman Sacs, cooking Greece's books, and walking away with large sums of cash for doing so.
TheScott 10 hours ago
+5 Votes
Glad you have been paying attention. This has been a talking point in the Greek problems from the bringing..... I as well as most others who believe in the rule of law, have been calling for Goldman's top exec's to be put on trial for a very long time. but... again, the government either gets involved by actively enabling such criminal behavour or just like our government turns a blind eye to the fraud and bails out worthless institutions.
However, the root cause of the problem is two fold. One by adopting the Euro, the Greek government no longer had the ability to devalue its money and the social safety net has always been a problem for Greece..... one of the prime drivers in fact for the Greek government to cut a shady deal with Goldman in the first place... less
However, the root cause of the problem is two fold. One by adopting the Euro, the Greek government no longer had the ability to devalue its money and the social safety net has always been a problem for Greece..... one of the prime drivers in fact for the Greek government to cut a shady deal with Goldman in the first place... less
stndyogrnd 10 hours ago
+1 Vote
the social safety net, has always been a problem in Greece because evidently people paying their taxes has always been a problem in Greece
TheScott 10 hours ago
+4 Votes
Shouldn't dole out any more than you have the ability to take in..... then their is no debt, no deficits and no need to cut shady deals that come back to decapitate a country at its knees...
stndyogrnd 9 hours ago
LOL once again the right wing mind shows it penchant for twisting perceptions to promote their ideological survival of the fittest delusion of humanity.
No ...Countries should have a rule of law they can enforce. So that when Government Social programs are designed, they have the ability to enforce the tax law they are based on..... The wide spread filing of fraudulent tax forms is busting the Greek economy. Though if the rule of law is that weak, it can be assured the there are people gaming the Social safety net also.
No ...Countries should have a rule of law they can enforce. So that when Government Social programs are designed, they have the ability to enforce the tax law they are based on..... The wide spread filing of fraudulent tax forms is busting the Greek economy. Though if the rule of law is that weak, it can be assured the there are people gaming the Social safety net also.
RicFlair 8 hours ago
+3 Votes
Kenny baby, I'll tell ya why your fearless leader still ain't got nothing on the enforcement books. The banks that are bankrolling him want a pawn in the oval office, and the leeches that are gonna vote for him need to be promised some table scraps pal!
TheScott 9 hours ago
+3 Votes
As I said.....Shouldn't dole out any more than you have the 'ability' to take in. If a state does not have the technical ability or the rule of law to implement or enforce the collection of revenue, then it should create spending that it has no ability to afford. Its like using over optimistic revenue projections in the distant future to fund current liabilities.... sometimes things just to go to plan.... and then people scream more taxes instead of realistic expenditures....
stndyogrnd 8 hours ago
LOL and repeating something over and over won't make it true..... nor will fragging responses.
enforcing the Rule of law that collects existing taxes, trumps budgets, in reality when it comes to functional government.
Just like breathing trumps, drinking and eating when it comes to living.
enforcing the Rule of law that collects existing taxes, trumps budgets, in reality when it comes to functional government.
Just like breathing trumps, drinking and eating when it comes to living.
RicFlair 8 hours ago
+3 Votes
Scott baby, its like this:
When your outflows exceed your inflows, then your upkeep will be your downfall pal!
When your outflows exceed your inflows, then your upkeep will be your downfall pal!
TheScott 6 hours ago
+3 Votes
"When your outflows exceed your inflows, then your upkeep will be your downfall pal!"
Rick... I didn't know you were such an accomplished rapper as well.... ;-)
Rick... I didn't know you were such an accomplished rapper as well.... ;-)
Nohelp1 8 hours ago
+1 Vote
This whole notion of socialism has its foundation in Marx's labor theory of economic value. As such, it begins from a premise that is not true since labor is not the source of economic value. A very similar mistake in thinking is being bandied about now with using gold as an objective measure of economic value.
TheScott 7 hours ago
+3 Votes
"....since labor is not the source of economic value."
Can you tell me what is the source of economic value?
Can you tell me what is the source of economic value?
stndyogrnd 7 hours ago
+2 Votes
Ummmmm just what exactly has occurred in the history of human progress that did not first start with human labor, The whole fact of human progress has it foundation in human labor. That is reality. Economic value is a product of the mind, and dependent on the conditions of the objective would we live in..... in a famine or drought, water and food are the things that command the highest economic value. But unless humans are living as primitive hunter gatherers, the delivery of food and water are even a product of human labor. Economic value is a product of human need and or desire. It is arbitrary. Human progress (wealth creation) is a product of human labor that's a hard fact.
RicFlair 8 hours ago
+3 Votes
Kenny baby, all this shows is that greed is a function of the human condition and any economic system that includes humans is gonna have the greed factor.
The only way you can justify socialism being free from greed is to conclude that anyone involved in command economies are non-humans pal!
You wanna be on the cutting edge of economic thought like the champ is, you don't ignore greed just because its the trendy thing to do like most libs are programmed to do. You factor it in and start pulling other pieces of reality in untol you got a better model baby. That's the thing about models, ideologies, and theories; they ain't reality but if it does the job you run with it. If it ain't doing the job, get another model pal!
Moniter and adjust baby, monitor and adjust; just like in the ring. less
The only way you can justify socialism being free from greed is to conclude that anyone involved in command economies are non-humans pal!
You wanna be on the cutting edge of economic thought like the champ is, you don't ignore greed just because its the trendy thing to do like most libs are programmed to do. You factor it in and start pulling other pieces of reality in untol you got a better model baby. That's the thing about models, ideologies, and theories; they ain't reality but if it does the job you run with it. If it ain't doing the job, get another model pal!
Moniter and adjust baby, monitor and adjust; just like in the ring. less
stndyogrnd 6 hours ago
+1 Vote
Human beings should face the fact that greed exists. thats why they should not allow an system of legalized corruption like campaign finance and unregulated lobbying that not only encourages greed but makes it impossible to get anything done with out greed having a powerful influence...... any fool should be able to grasp that basic concept.
AnalogAnomaly 45 minutes ago
"thats why they should not allow an system of legalized corruption like [freedom of speech] and unregulated [free speech] that not only encourages greed but makes it impossible to get anything done with out greed having a powerful influence......"
No thanks, America will pass on that idea.
No thanks, America will pass on that idea.
gottaloveit 7 hours ago
+3 Votes
Capitalism didn't create the problems in Greece. Vast over spending and unfair tax rates made people fudge the numbers. It has been shown over and over again that lowering tax rates increases government revenue.
stndyogrnd 6 hours ago
+1 Vote
No one said Capitalism created those problems, corrupt unregulated capitalism did.... the fact a right winger can't tell the difference between those two, is their limitation.
LiveStrongest 6 hours ago
+4 Votes
Greece is a socialist country, not capitalist.
Trash Greece all you want, you are really just trashing socialism.
Opa!
Trash Greece all you want, you are really just trashing socialism.
Opa!
stndyogrnd 6 hours ago
+1 Vote
LOL more simplistic black and white right wing delusions..... Greece is socialist democracy with a capitalist economy.... just like the rest of Europe... including Germany.
LiveStrongest 5 hours ago
+2 Votes
Sorry, but Greece's economy is nothing like Germany's.
You seem to have concluded that any economy that allows private individuals to earn a profit is just like any other capitalist economy.
You seem to have concluded that any economy that allows private individuals to earn a profit is just like any other capitalist economy.
stndyogrnd 3 hours ago
+2 Votes
Sorry the culture is different , but the basic economic system is capitalism... just like every other country in the EU, the basic Government is a social democracy... just like every other country in the EU.
CrazyMarine 4 minutes ago
Jefferson would have loved this topic and the comments, it points out his favorite characteristic of human political discourse, the art of twistafication is the word he coined for it. Did Greece fail because of too much spent on social programs?, or too little collected in taxes? Both answers are correct, but only one seems acceptable to people predisposed to reject any and all forms of socialism, the same debate is being waged here, increasing revenue and cutting spending is the most logical choice, but most republicans prefer spending cuts only, which will adversely effect middle class discretionary income and keep our consumer based economy stagnant
AnalogAnomaly 1 minute ago
It was pointed out the best way to raise their revenue collected is lower their tax rate
CrazyMarine 2 minutes ago
I consider that a total myth, that at best works only in the short term, and with globalization moving middle class job creation to cheaper labor markets is even less effective now, it tends to contribute to the mal-adjustment of wealth that is proving to be debilitating to the middle class consumers
AnalogAnomaly 36 seconds ago
A myth backed up by hard data. We call those facts
LiveStrongest 9 minutes ago
+1 Vote
Imagine how much worse Greece would be if the Government was Marxist or COmmunist.
stndyogrnd 1 minute ago
LOL how much worse would Greece be if it were fascist.... what an ignorant comment... since Greece is none of those things.
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