Spain’s Atrocious Piggy Bank Spending Runs Wild

20090113 bankruptcy-01

20090113 bankruptcy-01 (Photo credit: Wikipedia)

Bank

Bank (Photo credit: 401(K) 2012)

A strange title some would say but the sheer fact that Spain has been able to hide these huge amounts of debt, for many a year! Is staggering to say the least!

I have been following this and many more stories on the Euro Zone paying special attention to the amounts being requested and asking myself, is that what they really need! Or what they say they want!

As numerous discussions have taken place with bankers and treasury ministers l have come to the conclusion the ” left hand does not know what the right hand is doing” ! So let us consider the right-hand, this we will call the bankers or treasury ministers who for years have so-called looked after their people’s money! One day it all changes with a new buzz wordBailout Fund” a way for any Euro Zone country to get money to pay off their debts! Wow free money, with very few strings attached just impose austerity on the people whose money you squandered, make them pay, for your incompetence! While you continue to provide the same inept services you always did making sure you get a nice big pay rise to boot!

These figures l provide in the part below this statement are what l personally overheard Spain’s banking minister say when interviewed on 3 separate occasions until last night when Catalonia said we have just enough money for one more month! Well here are the figures –

When the likelihood of a bailout emerged only a short while ago it was just a figure of 23 trillion Euro’s it rose by miscalculation after miscalculation from 46 to a figure of 100 trillion! Last night it was revealed that this was only earmarked for the banks! In fact this will not be enough to bail out the country, this is nearer 350.00 trillion!

So my conclusion is that any country through sheer incompetence gets in a financial mess and are a member of the Euro Zone countries, just cry bailout and make the people pay!

Just one more thing who or what is the left-hand ,well l said in the beginning the ” right hand does not know what the left hand is doing” well the right hand is the bankers and treasury officials! So the left hand must be all the rest of us, who are so blinded by what we are told is all being provided to help our economy grow! Of course prosperity does not come from borrowing more, austerity measures or getting people to spend more, that is cap-it-all-ism!

True prosperity comes like a rich tapestry of life from good honest hard work, good honest people and most of all the faith in oneself to do the best they can for their fellow-man and woman! Not from under-hand and under the counter wheeling and dealing by putting profit before people.

#bailout, #berlin, #catalonia, #european-central-bank, #eurozone, #government-of-spain, #spain, #united-states

True Cost Of The Olympics

Britain - spy nation

Britain – spy nation (Photo credit: Clive Power)

Stratford in east London, near the Olympic park, has undergone a massive investment drive to pretty it up in time for the Games, and now boasts Europe‘s largest shopping center. But the regeneration of one of Britain’s poorest areas threatens to leave long-time residents out in the cold.

The true cost of the Olympics is not yet known but working on the basis of extra troops, accommodation for extra people and those little extras you just have to add! We will be looking at a bill to the taxpayer of say upward of £18 billion with the original estimate of £2.9 billion! All that aside when it is all over and the last flame has been extinguished what will they do with all that costly building works! Will they reward the area with low-cost housing! NO! This is their plan for the future of the Olympic village!

Thousands of new apartments were built for the Olympic village and next year there will be 2,800 flats for sale. But with entry-level prices of 250,000 pounds ($388,000) for a three-room apartment on High Street, they are un-affordable for the vast majority of people in Newham.

Provide the rich with affordable houses built especially for them! Interesting to see what rental charges will be made by the purchasers!

#2012-summer-olympics, #britain, #games, #london, #london-borough-of-newham, #newham, #olympic, #olympic-games

How We Morally Justify Tax Avoidance

Secret denunciations against anyone who will c...

Secret denunciations against anyone who will conceal favors and services or will collude to hide the true revenue from them. (Photo credit: Wikipedia)

Morality

Morality (Photo credit: tdietmut)

CASH IN HAND – 

Has been around for longer than l can remember it goes back to before the use of currency as we know it came into being! So long ago a number of people using goods and chattels provided us with a way to barter, such as a handyman provides a service and gets paid by receiving payment in kind!

I worked with a man called Steve Adams [RIP] he was a craftsman plumber by trade and he received payment in different forms, from a bottle of whiskey, step-ladder and even a car! These people from local politicians through to the man or woman in the street were paid this way,for many a year. it was simply called ” Payment or Benefit in Kind

This like so many ways to not pay tax sooner rather than later were to become know as ” Tax Avoidance” and a rule in the 80’s was coined as ” Benefit In Kind ” for using a vehicle in business or receiving a so-called benefit or as it came to be known a ” Bung” but was this really tax avoidance.

The fact that Cameron came out with the statement that they would clamp down on tax avoidance schemes led some to believe he meant the businesses and banks! Of course the more cynical of us and l am one realised it would mean the ordinary working man or woman.

The fact that the person put in charge has been in charge of showing people how to avoid tax in the past! Does this make him the right person to morally judge us? This extract thanks to Wikipedia shows he had expertise in ” Tax and Structuring ” tells us he was advising people on ” Tax Avoidance Schemes”

Professional Career

He was a researcher to the Conservative MP for Milton Keynes South West Barry Legg in 1993. He worked as a trainee solicitor with Richards Butler from 1995, being admitted as asolicitor in 1997. From 1999 to 2005, he was a solicitor in the financial services group atMacFarlane[1], a corporate law firm with expertise in “tax and structuring”.

David Gauke didn’t find many supporters for his view that paying tradesmen cash in hand was “immoral” yesterday. Dave, Nick, Ed Miliband and Boris all lined up to say they’ve done it before.  

We’ve got a feature by Dan Hodgescalling the affair “another attack on the middle classes” ; he warns politicians about the hazards of moralising on tax. 

So what is morally justified in this world of financial jiggery-pokery http://www.thefreedictionary.com/jiggery-pokery who can give us advice on what we should consider is tax avoidance or just a way to avoid paying our ” just desserts”

Well my answer is that as long as you provide a good service at the right price and submit your tax forms to the appropriate authorities on time, you do the right thing! By using the rules and regulations set down by the HMRC and keeping within them you can utilise legitimate tax avoidance by not paying more than you really have to and keeping yourself, family and tax man firmly on the other side of your front door. As once they have a foothold they will not let go until they drain the life blood from your bank account and provide it to the ” True Avoider’s of this World” the people who made the rules up in the first place!

#barry-legg, #cash, #david-gauke, #ed-miliband, #hm-revenue-and-customs, #macfarlane, #milton-keynes-south-west, #tax-avoidance-and-tax-evasion