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Do you have something to actually back up your claim?
originally posted by: daskakik
a reply to: soficrow
Actually I have refuted your claim
...billions of unemployable people just might establish a functioning underground global economy separate from the mainstream financial system, similar to Japan’s arrangement.
Doable? Or not?
You haven't refuted anything. Nor have you answered the many questions I asked in my OP and latter.
...billions of unemployable people just might establish a functioning underground global economy separate from the mainstream financial system, similar to Japan’s arrangement.
Doable? Or not?
originally posted by: soficrow
As you say.
2014: Guatemala's poor getting poorer
In Latin America, only Guatemala's poor are getting even poorer. A new World Bank study says a key reason is that the government collects too few taxes. Low spending leads to poor infrastructure and slow growth.
…A basic problem was inadequate public investment and decaying infrastructure, connected to very low levels of tax collection - at 11.9 percent, the share of GDP collected and spent by ranks 204th of 215 countries, according to the CIA World Fact Book. Public investment stands at just three percent of GDP.
The problem isn't that income tax or value-added tax rates are too low. It's that government is not effective at actually collecting taxes owed - in part because a large proportion of the citizenry lives entirely in the "informal economy", the report shows, meaning people don't have formal jobs or businesses and aren't registered with tax authorities. Tax evasion by registered businesses is also a big problem.
The World Bank Report: Guatemala Economic DNA pointed to several factors that have kept more than half Guatemala's population in deep poverty.
…Both public and private investment have been decreasing year-on-year, resulting in stagnant productivity, the report said. Crime and insecurity as well as a failure to adopt new technologies are obstacles to creating more and better jobs, as are high levels of crime, corruption and insecurity.
The report pointed to "perverse incentives" that prevent people active in the 'informal" economy from registering firms and entering the formal economy - and hence from paying taxes.
…Pro-poor policies could yield marginal improvements, the report said, but higher growth rates and improved productivity would be necessary to significantly improve living standards.
originally posted by: soficrow
In Latin America, only Guatemala's poor are getting even poorer. A new World Bank study says a key reason is that the government collects too few taxes. Low spending leads to poor infrastructure and slow growth.
Guatemala, the biggest economy in Central America, has one of the highest inequality rates in Latin America, with some of the worst poverty, malnutrition and maternal-child mortality rates in the region, especially in rural and indigenous areas.
originally posted by: loveguy
a reply to: soficrow
Time to go Amish and ban electricity all together?
That or get a job as a banker?
Land, just like monetary wealth, is concentrated in the hands of the few, making it very difficult for poor rural workers to improve their financial situation, as the amount of land they own or have access to is minimal.
Technology is disrupting the financial services industry — here's how
'As well or better than humans': Automation set for big promotions in white-collar job market
Expert says millions of Canadian jobs could be at risk over next decade
...Sunil Johal, policy director at the Mowat Centre think-tank at the University of Toronto, says millions more Canadians — between 1.5 million and 7.5 million, many of them highly skilled workers — could (lose their jobs) over the next decade because of rapid technological advances, including in artificial intelligence and robotics, and the potential for automating increasingly sophisticated tasks.
Johal says, at this point, nobody should consider their job "safe."
"We are starting to see in fields like medicine, law, investment banking, dramatic increases in the ability of computers to think as well or better than humans. And that's really the game-changer here. Because that's something that we have never seen before."