Greek Wealth Is Everywhere but Tax Forms

[FarCenter]

Yoray Liberman for The New York Times

Signs of wealth abound in Athens, but only a few thousand Greeks out of 11 million declared an income of more than $132,000 last year, according to the Finance Ministry.

By SUZANNE DALEY Published: May 1, 2010

ATHENS — In the wealthy, northern suburbs of this city, where summer temperatures often hit the high 90s, just 324 residents checked the box on their tax returns admitting that they owned pools.

So tax investigators studied satellite photos of the area — a sprawling collection of expensive villas tucked behind tall gates — and came back with a decidedly different number: 16,974 pools.

That kind of wholesale lying about assets, and other eye-popping cases that are surfacing in the news media here, points to the staggering breadth of tax dodging that has long been a way of life here.

Such evasion has played a significant role in Greece’s debt crisis, and as the country struggles to get its financial house in order, it is going after tax cheats as never before.

Various studies, including one by the Federation of Greek Industries last year, have estimated that the government may be losing as much as $30 billion a year to tax evasion — a figure that would have gone a long way to solving its debt problems.

<SNIP>http://www.nytimes.com/2010/05/02/world/europe/02evasion.html?th&emc=th

[arcadian]

1. Coming soon to America! The global financial crisis musical: Greece!

[ZeitgeistObserver]

2. It's a national sport.

People retire in their fifties, often from a govt job they never showed up to do. They get 14 months salary for 1 year, as 'bonuses', and most of it is never declared. 40% of the population 'works for' the govt.

[dkf]

3. When a populace is used to disregarding laws this is what happens.

The only people that obey the law are schmucks.

[SpiralHawk]

4. Republiconomics...

Ptooooey on the putrid global fruit of republiconomic attitudes and practices.

[liberal N proud]

5. Amass all the wealth in a few then cut their taxes

That should be a warning to those here who keep begging for tax cuts for the rich.

Doubt it will change anything though.

[ZeitgeistObserver]

6. Who does that?