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News Link • Economy - International

Spain, Struggling With Weak Economy, Raises Taxes, Attacks Business

Spain's Crackdown on Black Economy Aims to Trim EU's Highest Jobless Rate . . . Spain unveiled a crackdown on underground employment as the government seeks to shrink one of the region's largest shadow economies, bolster tax revenue and reduce the Europe Union's highest jobless rate. The plan increases fines for companies hiring workers without registering them with authorities and for people working at the same time as claiming jobless benefits, Labor Minister Valeriano Gomez said. – Bloomberg

Dominant Social Theme: Anything that the government does not regulate is going to have a bad effect on economic recovery. Only by bringing everything under control of the government – and taxing it – will economic recovery occur.

Free-Market Analysis: We can see how the socialist government of Spain continues the fine recovery of that once great country. Greece's socialist government is using satellite technology to count untaxed swimming pools. The socialist government of Spain intends to place the large thumb of officialdom on those businesses that have not yet felt its stern touch.

These austerity measures go to the heart of the argument about what exactly is going on in Europe. We have long pointed out that austerity from our point of view is much more about controlling society than making it solvent. The entire EU crisis has likely been manufactured in fact, with the elites expecting that the inevitable downturn shall develop unbrookable pressures for a further and more perfect union.


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