UNPAID TAXES

There is a dark side to unpaid taxes.

 

Most people pay their taxes. Many do not. Some because of financial hardship. Others because they do not care. And then there are those who think they are better than every one else and do not have to pay. Those that consider themselves above the law.

 

Greece and the United States provide two stunning examples in the unpaid taxes scenario.

 

Greece is broke. Broke broke. The whole world is aware. Greece is in debt around $440 billion.

 

Greece got screwed up with the euro. The European nations and the banks are trying to help Greece. To avert Greece's collapse economically. If Greece fails, then the rest of the European nations will experience severe dramatic problems. More so than they are now experiencing. The net effect of a Greek economic collapse would also dramatically impact the United State's already precarious financial position.

 

The banks, lenders and European nations have come up with a prerequisite to financial help. They have told the Greeks to collect their unpaid taxes. Improvement of tax collections has been made a condition precedent to financial assistance.

 

It is really a delaying and passing the buck situation. 

 

Unpaid taxes amount to 25 per cent of Greece's debt.

 

Greece's first step in trying to collect was to name those who owe. The maneuver was titled Name and Shame. More than 4,000 names were made public.

 

The funny thing about all this is that most of the unpaid tax debt is noncollectable. Most of the Greeks who owe do not have the money nor ability to pay. An example. One man owes 952 million euros. That is more than $952 million in our money. He is presently serving 504 years in jail for income tax evasion. How can he pay his back taxes? It's a joke!

 

My point is that to compel the collection of Greece's unpaid taxes is not going to solve the problem. You cannot collect what is not there to collect. The banks, lenders and European nations have to face up to the dilemma. No pie in the sky. They are going to have to bail Greece out. If not, it is very possible, if not probable, that a world wide recession will occur.

 

Now lets move to the United States. An interesting situation.

 

I refer specifically to the White House. The aides and staff working in the White House.

 

Taxes in every form are a campaign issue. Without question. Unpaid taxes are a part of the problem.

 

A recent study revealed the following.

 

The White House staff numbers 457. A certain number of the 457 owe $833,970 in back taxes.

 

One third of the White House staff earn more than $100,000 a year. The 21 top aides, $172,000 each.

 

Cannot afford to pay their taxes? Hard to believe.

 

My point with this unpaid taxes dissertation? None. I am merely sharing some information with you that you may not have known. Information you should know.