06 July 2015

Tax Deadbeats Caused The Greek Financial Crisis

One of the main reasons that the Greek government did not have enough money to pay its debts, which in turn produced a financial crisis that will had led to defaults on its national debt and is likely to cause Greece to leave the Euro-zone, is that 89.5% of Greek taxes are not collected.  By comparison, only 2.3% of taxes owed in Germany go uncollected.

The material linked also shows that the United States has a very small "shadow economy" (8.6% of GDP) compared to its European competitors (12.3%-26.3%), or even Japan (11%), let alone Greece (28.3%).

No comments: