Friday, November 14, 2008

The new way to deal with an economic crisis

Yes I heard of one yesterday on the news.

Regardless of what all the civilized nations of the world are doing, in Lithuania, our (myself not included) elected government to be, came up with a slightly different plan to deal with the shortage of cash everywhere, including the pennies they need to increase their wages.

Yesterday a crisis commission was formed, and they came up with a solution, even if it's just temporary. This commission that will cost the taxpayers god knows how much decided and legalised this new strategy yesterday that will come into a full swing from January the 1st. Tax increase. Yes you read it right, it is definitely not a typo. While the rest of the normal world governments are reducing taxes to help their country citizens go through the crisis they (Lithuanian crisis commission) introduced the new taxing system, which is called twenty twenty twenty. And this is just the start. They also decided to increase social security costs (the fact that you get absolutely nothing for paying this does not matter, this is not the problem solving time, they've got the power now), as well as take away the little benefits that existed for single mothers, some tax discounts for places like orphanages and hospitals. In other words, it seems like they intend to destroy this country rather than help it go through the crisis.

Oh I almost forgot all this money will go into the crisis fund, but no one was very willing to express what the crisis fund willl actually do. I would like to present to you - Lithuania - the third world country of the EU.

P.S. I really need to write a serious article on this, for serious people, before some Lithuanian journalist with lousy English will do it for me...

1 comment:

jayant said...

Hello Carra!
Sorry for being away for so long.
I do not understand economics but it is common sense to help the countrymen through the times of economics crisis,rather than add to their miseries, as we're having here in India.
Hope common sense prevails there too!

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