Tuesday 10 February 2015

SYRIZA Tax Proposal removes 3 million people from paying income tax

SYRIZA has announced that it will raise the tax-free minimum threshold to EUR 12,000 per individual filer. Although it is unclear when this measure will take effect, it has been a cornerstone of SYRIZA's platform.

According to Kathimerini, implementing the EUR 12,000 tax-free minimum removes more than 3 million taxpayers from the tax rolls: they will not pay any income tax at all.

I am in favour of this measure (and have been against the new tax brackets introduced in 2012).

At the same time, I can't help but wonder at the awful symmetry of economic life in Greece. Only 3.5 million people are officially employed in Greece today (of which approximately 650,000 are in the public sector). Three million will not pay income tax.

How is this economy supposed to function?

(c) Philip Ammerman, 2012

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The Greek Collapse

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