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Spain Raises Taxes.....and Errr...revenues Drop 5.3%

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Is this not more to do with the fact that the economy is contracting so there is less to tax ? If the rate was kept the same as before wouldn't the the revenues still have been down ?

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What is revealing is the mindset of all governments - adjusting tax, and thus it's impact on the economy, to maximise tax revenues - irrespective of the actual effect it has on the economy. So as long as tax revenues are at maximum, it does not matter to them if that causes the economy overall to underperform. (I know I am simplifying things of course)

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Surprising Comments from German Finance Minister Wolfgang Shäuble

. . . "all international agencies agree that Spain is on the right path"

I don't think Schauble gives a flying bratwurst while all Spain's best and brightest gastarbeiters are fleeing to Germany to fill the skills gap.

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I don't think Schauble gives a flying bratwurst while all Spain's best and brightest gastarbeiters are fleeing to Germany to fill the skills gap push rents and unemployment up and wages down in Germany.

Edited by Dorkins

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  • 239 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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