Share on Google Plus Share on Twitter 1 Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (2 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   No comments

Struggling Spanish Consumers Now Face A Crippling Tax Hike

Quicklink submitted By   Follow Me on Twitter     Message Sheila Samples     Permalink
Related Topic(s): ; ; ; , Add Tags

View Ratings | Rate It

Become a Fan
  (42 fans)
Image uploaded from a quicklink Cash-strapped Spanish shoppers and small businesses were resigned to more pain on Saturday, as everyday living costs like heating, phone bills, clothes and haircuts all become more expensive following a hike in value-added tax (VAT). Spain is trapped in a vice. On the one hand the government must drastically cut spending and lay off public workers to show investors it can control the public deficit and try to bring down sky-high borrowing costs.
On the other hand, tax revenue is shrinking because of joblessness and recession so the government has increased taxes to try to keep the deficit in line, which in turn inhibits consumer spending and makes the recession worse.

Read the rest of the story HERE:


- Advertisement -
- Advertisement -