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EU Calls Displays Economic Stupidity at its Finest

gmallast Wrote: Mar 06, 2013 10:04 AM
Has it ever occurred to these people that bankrupting taxpayers with high tax rates results in LESS tax revenues rather than more? People who are broke don't pay taxes because they have nothing to pay taxes with. If individuals and businesses are left without the resources to make a living they end up broke. Look at how far behind tax collections are in Detroit.

The sheer stupidity out of nannycrats in Brussels is staggering. Smack in the midst of a depression, Brussels once again calls on Spain to hike taxes. Via Google translate from El Economista ...

The European Commission today called on Spain to restrict the application of the reduced VAT rate and raise fuel taxes to reduce the deficit, and continue reforms in the labor and pensions, delaying the effective retirement...