"Government spending cuts brought some tens of thousands of people onto the streets of London and other British cities on Saturday in protest, with union leaders expected to call for a general strike. Marchers carried signs reading 'No cuts' and 'Tax justice not tax havens', condemning the austerity measures introduced by Prime Minister David Cameron’s coalition government in a bid to reduce Britain’s huge deficit." Continue reading →
"The Social Security tax withholding rate is expected to return to 6.2% after two years at 4.2%. So far neither party has expressed much interest in another extension, reports WSJ. For someone earning the 2011 median income of $50,054 that translates into $1,001.08 a year or about $40 less in a biweekly paycheck. Below is a WSJ Calculator that will tell you how much more you will pay in taxes." Continue reading →
"France is sliding into a grave economic crisis and risks a full-blown 'hurricane' as investors flee rocketing tax rates, the country’s business federation has warned. Spending has risen to 55pc of GDP, similar to Sweden but without Nordic labour flexibility. French economic growth has been near zero for the past five quarters. It may have tipped into recession over the summer as the malaise spread from Italy and Spain. New car registrations were down 7.7pc in the third quarter from a year earlier. Unemployment has reached a post-euro high of 10.6pc. The fear is that a fiscal shock in 2013 will tip the economy into a sharp downward slide." Continue reading →
"The parasite is definitely overwhelming the hosts in Spain. In response to the economic crisis ravaging Spain, approximately 420,150 people have emigrated from Spain since January, according to the National Statics Institute (INE). 54,912 of those that have left are Spanish citizens — meaning that over 10,000 have left since earlier estimates this summer. That's also a 21.6 percent increase from 2011." Continue reading →
"Greece's largest company is to move its headquarters to Switzerland and list its shares in London, in a further blow to the struggling eurozone country. Shareholders, most of whom are abroad, will exchange their stock for shares in Coca Cola HBC AG, based in Switzerland. Most investors have already accepted the plan after long complaining about Greek taxes, according to Reuters. The company, in which The Coca-Cola Co of the US has a 23pc stake, bottles drinks in 28 countries from Russia to Nigeria." Continue reading →
Sooner or later it becomes unaffordable and away it goes As a people become accustomed (read as “addicted”) to government handouts and goodies, someday the day comes when, during an inevitable downturn in the economy, a government’s revenue stops matching it’s expenditures. The liberal answer, as always, is increase taxes. Damn the fact that taking [...]