tag:blogger.com,1999:blog-6685155377705481833.post3904981138813860687..comments2023-09-22T03:17:50.469-04:00Comments on Middle Class Political Economist: Cost of Tax Evasion Estimated at Over $3 Trillion AnnuallyKenneth Thomashttp://www.blogger.com/profile/05747704671007690674noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6685155377705481833.post-40387369376752291342011-12-17T08:42:05.930-05:002011-12-17T08:42:05.930-05:00According to the report, Greece loses $29.4 billio...According to the report, Greece loses $29.4 billion a year in tax evasion, which is almost 10% of its $304.9 billion gross domestic product. The Greek shadow economy is 27.5% of GDP, just barely larger than Italy's shadow economy. Taxation is 35.1% of GDP while government spending is 46.8% of GDP, so the tax lost to tax evasion could just about fill up the 11.7% of GDP annual budget deficit.<br /><br />You also mentioned Russia. If you multiply the shadow economy (43.8%) times the tax rate (34.1%), we find that it loses 14.9% of GDP to tax evasion. So I would definitely say that is part of their economic problem.Kenneth Thomashttps://www.blogger.com/profile/05747704671007690674noreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-35375792401958369052011-12-13T07:08:37.409-05:002011-12-13T07:08:37.409-05:00Do you have the figures for Greece? With all the ...Do you have the figures for Greece? With all the concern about tax evasion in that country I wonder what their percentage is. The figure for Russia is also very interesting.View from a moderate in NMhttps://www.blogger.com/profile/00223870270728626007noreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-41222147447972534022011-12-13T07:06:22.883-05:002011-12-13T07:06:22.883-05:00Since we've heard so much about Greece and the...Since we've heard so much about Greece and their tax evasion, do you have the percentage for that country? I wonder if it is higher than Spain or Italy. The figure for Russia is interesting. I wonder if it is part of the political problems we are now seeing over there.View from a moderate in NMhttps://www.blogger.com/profile/00223870270728626007noreply@blogger.com