tag:blogger.com,1999:blog-660245739708697440.post5556908760005086003..comments2023-06-04T16:53:03.592+03:00Comments on Philip Atticus: Proposal for a Solution to the Greek Debt CrisisAnonymoushttp://www.blogger.com/profile/04706813821954088317noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-660245739708697440.post-89061059183257096222011-11-16T04:13:49.797+02:002011-11-16T04:13:49.797+02:00Construction is a very viable stimulus for Greece....Construction is a very viable stimulus for Greece. This will improve public infrastructure leading to better services and generate jobs.cement mixerhttp://www.batchcrete.com.au/noreply@blogger.comtag:blogger.com,1999:blog-660245739708697440.post-65832429435686365692011-06-08T13:40:49.044+03:002011-06-08T13:40:49.044+03:00Dwain, thanks for your post. Permit me to generali...Dwain, thanks for your post. Permit me to generalise: <br /><br />The average middle class family with two children in Greece will have an income of about EUR 3,500-4,000 per month, at least 30% of which is undeclared. Anything below this net income level is not middle class: it’s lower class. <br /><br />This family will have at least two houses, a main residence and a vacation home, that are probably declared at less than half their value, meaning that they pay no property tax, and that they didn’t have to explain where they received the income to buy the property in the first place. <br /><br />They will have received abundant support from their parents, usually in the form of property transfers or inheritance. <br /><br />They will send their children to private lessons, athletic lessons and private healthcare, on which they do not pay VAT because they prefer to receive these services at a lower price. <br /><br />They receive an income tax deduction on their first EUR 12,000 of income. <br /><br />If one of them is an entrepreneur or business owner, you can be certain that at least 30-40% of their real turnover is undeclared, and therefore untaxed. You can be sure that if this profession involves the sale of goods, it is done without declaring their fair purchase value, again to avoid VAT (and for their suppliers to avoid income tax). <br /><br />If one of them is a lawyer, doctor, or dentist, you can count on them having an annual income of at least EUR 200,000, of which they probably declare EUR 35,000 – 40,000. Or even lower. <br /><br />If one of them is an accountant or notary public or architect or civil engineer, you can almost be certain that they are fully aware that their clients are breaking various laws, and are assisting in the process. <br /><br />So, yes, they may be affected by the austerity programme in some ways (the most visible one is the fuel tax, but this was offset by the rise in the income tax-free threshold from EUR 9,000 to 12,000 that this government passed last year). <br /><br />I could go on, but the reality is what I describe. I am certain there are exceptions, but the fact of the matter is, I don’t know many honest people in Greece when it comes to tax reporting. Perhaps I should improve the company I keep.Anonymoushttps://www.blogger.com/profile/04706813821954088317noreply@blogger.comtag:blogger.com,1999:blog-660245739708697440.post-33385358752988083152011-05-31T22:30:19.043+03:002011-05-31T22:30:19.043+03:00Intriguing propositions. I must disagree to an ext...Intriguing propositions. I must disagree to an extent with the belief that the middle class has remain unscathed. Anecdotal evidence in my social circle has revealed unemployment, pay cuts, and lifestyle changes that are far reaching.d-wainhttps://www.blogger.com/profile/02544953081148864056noreply@blogger.com