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Tom Petty Tells Michele Bachmann to Knock It Off

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blueraven6/29/2011 7:31:44 am PDT

All this mess going on in Greece. So I stated looking around a bit. Seems we are following in their footsteps. Yes they, and we, spend too much. But the wealthy get a pass and the tax system sucks!


Distribution of Income or Consumption by Percentage Share: Greece
Lowest 10% 3.0
Lowest 20% 7.5
Second 20% 12.4
Third 20% 16.9
Fourth 20% 22.8
Highest 20% 40.3
Highest 10% 25.3
Survey year: 1993 (latest I could find…I would bet it is worse now)

Read more: Greece Poverty and wealth, Information about Poverty and wealth in Greece nationsencyclopedia.com


Meanwhile:
Greek Wealth Is Everywhere but Tax Forms

Various studies, including one by the Federation of Greek Industries last year, have estimated that the government may be losing as much as $30 billion a year to tax evasion — a figure that would have gone a long way to solving its debt problems.

“We need to grow up,” said Ioannis Plakopoulos, who like all owners of newspaper stands will have to give receipts and start using a cash register under the new tax laws passed last month. “We need to learn not to cheat or to let others cheat.”


nytimes.com