Economists: underground economy booming. Consumers seem to have more money than they ought to, given the “unexpectedly” lousy trends in employment. “It costs too much now for companies to create open positions that carry the costs of mandated health insurance. Instead, more employers appear to be paying cash for what used to be called piece work in a bygone era.” Working for change off the books is what they can believe in, thanks to King Putts.
This post was last modified on April 12, 2021
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I get "King Putts, but would it not be equally true to say King Putz?
http://www.urbandictionary.com/define.php?term=putz
Here in the south of England the 'black' economy is doing well and is almost a way of life. There's a lot of barter going on. Farmers can slaughter their stock for their own consumption. One farmer I do stuff for says that his family are really greedy , they're getting through a dozen pigs a week! I do stuff, mostly computers and mechanical repairs, for $$$ in hand at a much cheaper rate than an invoicing, receipt-giving 'professional. I'm declared self-employed and my accountant (I look after his garden as payment) makes sure that my tax return shows that I'm earning just above the bread-line and am thus tax exempt.
I am only one of many thousands here in England who have said, "Enough is enough!" We refuse to pay the additional 20% tax (Value Added Tax - VAT)) levied on every single purchase. We refuse to pay the exorbitant income tax. Our cigarettes are brought in from Belgium, where the tax is much lower. Our whisky and brandy, all genuine articles, are brought in from sources best not revealed. But we are not costing the State one penny in welfare.
It's the new way of life, and it's taking millions away from the corrupt swine (I used a nice word there) in Westminster.
I feel your pain. That kind of behaviour is exactly what got this country started. Now our own government is doing it. I suspect there will be a revolution of some kind pretty soon!
I see a lot more off the book work in the future.
If the government can raid your bank account and 401K, and SS is broke and not going to pay out, why bother paying taxes?