Originally Posted by gerryo777
€31 billion in promissory notes for anglo alone plus interest of approx €14 billion over their lifetime. I heard an economist on Pat Kenny's show saying that it will be costing €14 billion a year to service this debt.
That's just one bank.
We need people to be spending in our economy to create jobs, which in return brings in more taxation revenue.
All these extra taxes and charges have killed our domestic economy and the more they tax us, the less money people have to spend.
We are on a seriously downward spiral so we need to change direction if we're ever to get out of this mess.
€14 Billion a year on a banking bail out of about €45 Billion borrowed? Does that not seem rather odd to you?
Economic Incentives: The deficit and “the banks”
That's is a pretty good source, Economist who writes in Indo
, but tends to back his stuff up, not these pop Economists on the radio or TV. Not saying he is right, but it's important to read stuff not agreeing with popular opinion.
Look, the bank bail out thing is unfair and very rightly gets huge criticism but saying:
We are refusing to pay because the only reason this is being brought in is to pay off debts that neither me or her incurred.
People will come on here and say that that isn't the reason this tax is being brought in but even the dogs on the street know that's not the case.
Our tax revenues don't even cover Welfare and PS pay, never mind stuff like fixing roads, opening hospitals, schools, barracks, that type of stuff. The gap between taxes raised and money spent is just enormous, never mind bank bail out costs.
Debating over what is a right thing to bring in is understandable, I've problems with the choices of FG/Labour, but the figures don't lie. Blaming the banks ignores a huge problem, blaming the IMF/EU the same.