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View Diary: IMF admits disaster in Austerity orders (85 comments)

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  •  I didn't remove tourism from GDP (0+ / 0-)

    Only shipping in that calculation. But as you point out, tourism is frequently a cash enterprise. And that cash gets stashed.

    Shipping is international business, the ships are on the high seas. They can dock anywhere. The Gov't is thankful enough that they pay tonnage tax, because those ships could fly under any other flag. The point is, Greece's GDP for taxation purposes is larger than it really is.

    There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

    by upstate NY on Thu Jun 06, 2013 at 07:19:13 PM PDT

    [ Parent ]

    •  tighten up flag regs in the EU (0+ / 0-)

      you can't dock at a EU port unless you are flagged to the EU or paying cargo sales taxes.  

      •  So, what happens to int'l trade (0+ / 0-)

        when ships from China try to dock in the EU?

        Cargo tax is paid already, but that only applies to what's being imported. So, this isn't an issue of tax. It's an issue of corporate profits.

        There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

        by upstate NY on Fri Jun 07, 2013 at 09:03:29 AM PDT

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        •  have a reciprocal tax (0+ / 0-)

          if it's a chinese flagged ship, tax it for the voyage
          like it's a EU ship and have the tax tied to wage
          credits and safety standards and percentage tonnage
          aimed for EU ports.

          credit the chinese Govt for any taxes collected on EU
          ships pulling in to Chinese ports....

          somewhat the way US States tax diesel fuel burned
          within a state even if purchased out of state.

          •  The Chinese though are there to kill (0+ / 0-)

            the Greek shipping industry. The Chinese are actually already taking over. Pretty soon, this whole discussion is going to be moot because little by little, the world's biggest fleet of dry good ships (i.e. excluding oil and gas) is being whittled away and the Chinese are taking over.

            There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

            by upstate NY on Sun Jun 09, 2013 at 05:49:56 AM PDT

            [ Parent ]

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