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Saturday, February 9, 2013

Tax Hikes Backfire, Greece’s Revenues Plummet

Greek Reporter:  Tax Hikes Backfire, Greece’s Revenues Plummet:

Despite big tax hikes as part of austerity measures demanded by international lenders, tax revenues fell precipitously in January, with the Greek Finance Ministry reporting a 16 percent decrease from a year earlier, and a loss of 775 million euros, or $1.05 billion in one month.

http://taxprof.typepad.com/taxprof_blog/2013/02/tax-hikes.html

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Comments

Unexpectedly.

Posted by: AMTbuff | Feb 9, 2013 9:32:21 AM

What a shock. Perhaps the deniers of the natural human reaction to and the economic consequences of tax increases will suggest that Greece quadruple its tax rates to bring in more revenue. Yeah, that's the ticket! -- The Laffer Curve

Posted by: Woody | Feb 9, 2013 8:36:50 PM