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Italy shocks banks with 40 percent windfall tax for 2023
(www.aljazeera.com)
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this post was submitted on 09 Aug 2023
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I don't know where are you getting this from. The have better GDP forecast than Germany for example and one of the lowest inflation in EU. Part of this is thanks to lower energy prices achieved thanks to policies that are now copied by other countries. And the current government did pretty good in elections just couple weeks ago so I don't think people feel overtaxed. Biased much?
Did pretty good? They lost them.
They're having huge troubles with habitation.
Lower energy prices were achieved with government debt by subsidising the prices. By comparison, Germany is doing quite fine when compared to Spain:
So, basically the tax payer ended up paying the (lower energy prices in taxes raises)[https://elpais.com/economia/2022-11-30/espana-en-el-podio-de-paises-de-la-ocde-con-mayor-alza-de-la-presion-fiscal-en-una-decada.html]. So you basically fell for the socialist trap, that's giving some benefits while raising the taxes, which ends up screwing people even more.
The inflation rate being better in Spain is well... good but on everything else they're far worse than even Germany.
The debt looked like this well before the energy crisis and it grew to over 100% under right wing government: https://www.macrotrends.net/countries/ESP/spain/debt-to-gdp-ratio Current government was hit by Covid but they actually managed to lower it in 2021. And I'm of course not saying that Spain is economically in better situation than Germany over all, just that this government managed current crises pretty well and got inflation and GDP under control faster than them and most other countries.
Yes, with record breaking taxation... Apparently for Lemmy fucking over people's lives is all good as long is the government doing it and not some corporation.
Sure, because higher taxes fuck over people's lives but inflation, recession, unemployment and high costs of living do not. Just look how happy everyone is in UK with their current cost of living crisis. Not raising taxes sure worked out great for them...
Also, I'm not Lemmy. Don't know why would you generalize like that.
The unemployment rate is horrendous, at 13.3% in the first quarter of 2023. In comparison, Germany was at around 5.5%, the UK at about 3.8%, and the US at around 3.5%.
Edit: And when you scope that to youth unemployment, the rate in Spain is nearly 30%. I won't pretend to know enough about Spanish economic policy to speculate on causes, but things are not exactly going well.
https://www.macrotrends.net/countries/ESP/spain/unemployment-rate
Okay?
I'm genuinely not understanding your point. That website shows 13.01% unemployment it 2022, and 28.34% for youth. These are very high.
So you misses the point if this entire discussion.
I'll maintain that the Spanish economy is not exactly a good example of economic prosperity, and thank you for providing additional data that exactly shows that point. Cheers.