Friday, July 10, 2015

What is the problem with Greece?

Mismanagement. The following are some of the things that contribute to their current crises – My opinin. 

Outrageous pension system. Too many government employees. People can retire at the age of 50 with 95% of their last pay drawn as monthly pension. 

No proper system to collect income tax. More than 80% of the people do not bother to pay income tax. Government does nothing about it. 

Most of the retail sales are in cash. Therefore, very few sales tax amount is collected. 

Concession for needy and poor are exploited. For example, there are special discounts for blind people. Many citizens, including taxi drivers, have a certificate that they are blind. 

People ignore toll taxes. The employees who are employed to collect them do not bother to collect. 

The government borrows money they cannot pay back. 

Borrow more money in order to pay that loan back. 

They are in the European Union and use Euro as their currency. Therefore, they cannot print money to meet their expenses. (Printing too much money will lead to inflation and the money will become useless and no value.) 

Laid back Mediterranean culture. 

Socialist Government.

Friday, July 3, 2015

Quote Challenge Post #3

This is a challenge post.  According to this challenge: 

Post one of your favorite quotes (different quote on each day) on three consecutive days. The quote can be from your favorite book, author, or your own. 

Nominate 3 bloggers to challenge them. 

Thank the blogger, who nominated you. 

I am tagged by our blogger friend Ph_, owner of the blog, Cascading Thoughts. Thanks a lot Ph_ for tagging me. 

Here is my third quote: 

''There is always inequity in life. Some men are killed in a war, and some men are wounded, and some men never leave the country, and some men are stationed in the Antarctic, and some are stationed in San Francisco. It's very hard in military or in personal life to assure complete equality. Life is unfair.'' 

Late U.S. President John F. Kennedy 

Some people dine regularly at the Kitcho Restaurant in Kyoto, Japan. Cost: Around $600 per person without drinks. They have no problem swiping their credit cards. 

Look at this poor old pensioner in Athens, Greece. The Government is broke and the banks are closed. People are starving because they cannot withdraw money from the bank to pay for food.

                                          Life is very unfair (Image Courtesy: Yahoo)