Friday, May 10, 2013

Spanish banksters: rise taxes to the poor, lower taxes to the rich

The BBVA's think tank BBVA Research claims that, in order to get out of the crisis, taxes on consume like VAT (which are equal for all, regardless of income) should be raised, while the taxes on income, very especially for the highest echelons, should be reduced. 

Spain already has extremely low taxes for the high incomes, a mere fraction of what advanced and stable EU countries like Sweden or Finland or even Germany do, as well as ridiculously low taxes on financial transactions and corporate profits. 

Also a major cause of the economic collapse is the collapse of purchasing power, which is directly related to direct taxes like VAT (21%), energy taxes (>50%), etc. Never mind that such high direct taxes encourage buying elsewhere when possible (this again applies especially to the wealthy, who often live with one foot overseas). 

The BBVA corporation also demands further demolition of workers' rights, of the pension system and of municipal government.

Source: Kaos[es].

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