Greece backs new round of tax rises and spending cuts

[dipsydoodle]

Source: BBC News

The Greek government has approved a new package of tax rises and spending cuts to save 4.8bn euros ($6.5bn; £4.4bn) and ease its budget crisis.

The measures include a rise in sales and luxury taxes, a 30% cut in the holiday bonuses paid to civil servants, and a pensions freeze.

The EU had called for austerity measures amid fears that Greece's problems could undermine the eurozone.

In Brussels, the European Commission welcomed the new package.

Read more: http://news.bbc.co.uk/1/hi/world/europe/8546589.stm

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The news caused the Euro to pick up ground lost in the last week against the US$.

[earcandle]

1. Smarter than we are, for sure. All we have to do is contribute $1 per family member and

we raise $300 million.  Make that $10 (the price of a movie
night) per person, we got $3 billion.  Hmm.. what could we use
that for?

[DissedByBush]

2. They call that a regressive tax

The poorer you are, the more percentage of your income that is.

Half the taxpayers in this country, 70 million, pay little or no federal income tax. If they did even at a moderate amount we would collect a hell of a lot more.

All taxpayers paying just $1,000 dollars each is $140 billion. That's a lot of money even in Congress's book.

But that would put a hurt on the finances of much of the lower 50%.