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The Ministry of Finance is not considering raising the government’s debt ceiling, MOF Minister Lee Sush-der said July 28.
“We could work with the private sector on major infrastructure projects as a way to reduce public spending,” Lee said, adding that Taiwan has no foreign debt as the EU and U.S. do.
Taiwan cleared all its foreign debt in June this year, according to Lee. The government’s outstanding debt at home will be about NT$4.92 trillion (US$170.8 billion) by the end of 2011 and 70 percent of it is with state-run banks, Lee explained.
“Our problem is much less complicated compared to the West,” the minister said.
Lee was responding to opposition criticism that the government has accumulated too much debt over the past few years while slashing tax returns.
“Over the past three years, government coffers have seen NT$75.07 billion less in tax revenue,” Lee said, stressing that the tax reduction was designed to revive the economy and balance the gap between rich and poor.
Lee admitted, however, that Taiwan’s tax burden ratio, which stood at 11.9 percent in 2010, is quite low. “Even so, our infrastructure investment increased from NT$16.2 billion in 2008 to NT$224.5 billion last year without imposing extra taxes,” Lee said.
“The national debt will not exceed the legal limit,” Lee stressed. “We can re-examine the government’s expenditures and seek more public-private ventures to reduce the financial burden.”
At least three people have been killed in the Greek capital as protesters set fire to a bank during a general strike over planned austerity measures.
The bodies were found inside the Marfin Bank in Athens. The Greek prime minister said it was a "murderous act".
The protest became violent, with petrol bombs thrown at police, who responded with pepper spray and tear gas.
Protesters are angered by spending cuts and tax rises planned in return for a 110bn euro (£95bn) bail-out for Greece.
A police spokesman said the three victims - two women and a man - were among 20 people working in the Marfin bank branch on Stadiou Avenue in central Athens when the petrol bomb was thrown.
Strange how the tea party are supposedly violent "babies" yet it's those mature European progressives rampaging through the streets, lobbing Molotov cocktails, destroying property and killing people.
Those protesters are from the Tea Party's Greek chapter.
Strange how the tea party are supposedly violent "babies" yet it's those mature European progressives rampaging through the streets, lobbing Molotov cocktails, destroying property and killing people.
I guess those mobs should behave more like a Libertarian of the Austrian school of economics then
Breivik was previously a member of the anti-immigration Progress Party (FrP), which promotes libertarian, conservative and right-wing populist viewpoints[150][151][152] and its youth wing FpU from 1997 to 2007, acting as deputy chairman for one of the local Oslo chapters.[153] According to current FpU leader Ove Vanebo
Breivik name-dropped dozens and dozens of people and organisations in his screed. He's a self-professed "lone wolf cell"- his views and actions represent himself and nobody else. Nice try, though, I anticipated that the man would be used as a brigadier for a new straw man army.
In any case, conflating the Austrian school of economics with libertarianism with a mass murderer is merely cheap smear-by-association and a distasteful rendering of the deaths of many people for the sake of slogan argumentation.
Huh? Never heard the term 'statist', fish-person breadist? Political Education 101a, 101b, 101c, 101d...Statist... bwahahahahaha!
Im a breadist as well, and a waterist. Since I am a carist, I am going drive with other carists. Us carists use the roadists.
You should read his manifesto and his forum posts. The dude idolized the what he called the "Vienna school of economics". He goes on and on in forums defending it like you two. You should really read his posts. I think you could find some great arguments he used.
PS: Dont forget to take my original response to Alan in the context of what I was replying to![]()
With the French peasants and merchants we cry again to the Absolutist State: Laissez-faire! Laissez-faire!!http://mises.org/daily/5497/Ideas-and-the-Culpability-for-Violence
The violence perpetuated by Anders Behring Breivik in Norway unleashed the usual torrent of blaming anyone who might have influenced the murderer's thought. He was first described as a right-wing Christian — a description designed to put a certain community on notice. As more evidence rolled in, he has been more accurately described as an anti-Islamic nationalist, but the tendency to pin this violence on any nonleftist is still there. ... {snip} ... Resolve to serve no more, and you are at once freed. I do not ask that you place hands upon the tyrant to topple him over, but simply that you support him no longer; then you will behold him, like a great Colossus whose pedestal has been pulled away, fall of his own weight and break in pieces.