Saturday, December 10, 2011

The Future of Taxation

Jessica, your humble servant here once spent 2.5 months in Greece, which is close to Italy in geography and mindset.

At that time 1/3 of the Greek economy was "off the books" in cash transaction! The people simply could not, would not pay the huge taxes on them.

Frankly, this writer hopes the "off-the-books" cash economy in Italy continues, and in Greece too. We are heading down the same path.

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