The Real Israelites

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Middle-class Greeks to fork out over 40% of annual salary in tax

by on Jan.12, 2013, under News Events

Reuters / John Kolesidis

Reuters / John Kolesidis

Athens passed new tax increases to boost revenue by US$3 billion to keep in line with previous commitments to creditors. The new measures limit family benefits and force the middle class to pay over 40 per cent of their annual salary in taxes.

Greek’s Conservative-led coalition has passed the new tax increases to middle and high-income earners, self-employed and businesses.

The new law increases the amount of income tax paid by those earning more than US$26,000 a year, limits tax benefits for having children, revokes tax breaks for farmers and increases corporate tax to 26 per cent from 20 per cent.

It also increased top income tax rate to 42 per cent from 40 per cent for Greeks earning more than US$56,000 a year, which is the higher-end of middle class average in Greece.

The new law was part of an overall package approved past November in order to qualify Greece for more bailouts in the future. It aims to save Greece up to US$3 billion in 2013.

If the new tax changes would not have been passed, then Greece would not qualify for more bailout money to be transferred and the nation would have fallen short of paying its own bills.

Finance Minister Yannis Stournaras stated in the parliament that he had no other options and that the bill needed to be approved.

“Otherwise, we would have had to have saved that 2.3 billion euro [US$3 billion] through salary and pension cuts,” he said. “But we are making the savings in a socially just fashion.”

The opposition argues that the changes would negatively impact Greek citizens by putting more pressure on an already-stricken middle class.

But the conservative-led government assures that the changes will lessen the burden for salary earners and pensioners making less than US$33,000 a year.

“We are not in favor of taxes,” Deputy Finance Minister Giorgos Mavraganis stated. “But in the current situation we must lead the country out of its impasse. Once we achieve stability we will proceed to cut taxes and simplify the system.”

Greek’s financial crisis dilemma

Since 2009 when Greece’s economy began falling apart under its huge debt burden the country has become dependent on international rescue loans with a total of 240 billion euro provided to Athens. As of now, 149 billion euro has been distributed to Greece from the Troika of international lenders.

Just last month Greece has received another US$45.5 billion in frozen loans and now with the passage of the new tax bill it is on track to get another US$19.9 billion in the next few months.

Athens was forced to implemented harsh austerity measures to reduce deficit and bring down the debt level.

Trying to hold control of the economy at the end of 2012 Greece adopted a 2013 budget that involves 9.4 billion euro of spending cuts, mainly in state wages, pensions and benefits, all of which have already been significantly reduced over the past two years.

The decision resulted in strikes and protest across the country.

Tough austerity measures have also led to a drastic surge of unemployment – in September 2012 it reached a record 26 per cent, which is one of the lowest levels amongst the EU nations.

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01 Daily Bread: The Kingdom of Heaven. Who is it for and what will it be like?

by on Dec.11, 2012, under Israelite Knowledge

The common misconception of the kingdom of heaven is a great big fantasy world where children and adults from all walks of life will live and play together. Mystical creatures and baby angels fly around looking down on all mankind with grins of gratitude. They got it all WRONG! According to the bible, the kingdom of heaven will be nothing of the sort. Listen in!


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Israel issues military threat to Syria(the gutter rats in Israel will draw you other edomite nations into world war III)

by on Nov.12, 2012, under News Events

Jeremiah {49:20} Therefore hear
the counsel of the LORD, that he hath taken against Edom;
and his purposes, that he hath purposed against the
inhabitants of Teman: Surely the least of the flock shall
draw them out: surely he shall make their habitations
desolate with them.




Israeli forces carry out a military exercise in the occupied Syrian territory of Golan Heights. (File photo)

Israeli forces carry out a military exercise in the occupied Syrian territory of Golan Heights. (File photo)
Mon Nov 12, 2012 5:32AM
The Israeli regime has threatened Syria with tougher retaliation following an incident in the occupied Syrian territory of Golan Heights where an Israeli military post was hit by a stray mortar shell fired from Syria.

It was not clear whether the shell was fired by the Syrian army or the foreign-sponsored insurgents fighting against the Syrian government.

The Israeli military immediately responded to the shelling on Sunday, firing a guided missile into Syria as a “warning shot.”

According to a military source, the Israeli forces fired a Tammuz missile, also known as Spike, toward the Syrian army unit in the Golan Heights.

The Tel Aviv regime said in a statement that the Israeli military “has filed a complaint through the UN forces operating in the area, stating that fire emanating from Syria into Israel will not be tolerated and shall be responded to with severity.”

The Israeli regime seized the Syrian territory on the strategically important Golan Heights in the 1967 war. Tel Aviv annexed the territory on December 14, 1981 — a move which has been met with international condemnation.

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END THE WAR | Sign the Petition

by on Aug.04, 2012, under News Events



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Putin: Russia to keep nuclear arms ready for action

by on Jul.26, 2012, under News Events

Russian President Vladimir Putin speaks during a meeting with his administration officials in southern Russia town of Gelendzhik on July 25, 2012.

Russian President Vladimir Putin speaks during a meeting with his administration officials in southern Russia town of Gelendzhik on July 25, 2012.
Thu Jul 26, 2012 9:31PM

We are not going to engage in an arms race, but no one should doubt the efficiency and reliability of our nuclear potential and our aerospace defense.”

Russian President Vladimir Putin

Russian President Vladimir Putin has warned that the country will keep its nuclear weapons and aerospace defense ready for action.

“We are not going to engage in an arms race, but no one should doubt the efficiency and reliability of our nuclear potential and our aerospace defense,” RIA Novosti quoted Putin as saying at a meeting on the country’s defense program on Thursday.

“Nuclear weapons remain the main guarantee of Russia’s sovereignty and its territorial integrity, it plays a key role in maintaining global and regional stability and balance,” Putin added.

The Russian president also lauded the country’s aerospace defenses and asked the military and weapons designers to keep the weaponry constantly ready and be on the vigil for potential enemy plans for development of offensive weapons.

“It must remain on constant alert, take account of potential aggressor’s plans for development of attack instruments, provide neat and rapid interaction with other branches of the Armed Forces,” Putin said.

He noted that Russia has set up a USD-600-billion fund to upgrade 85 percent of its strategic nuclear weapons arsenal and up to 70 percent of its defensive aerospace weapons by 2020.

Earlier in the month and in a speech to Russian ambassadors, serving across the world, Putin condemned the West for its interventionism and adoption of “missile-bomb democracy” in its approach to international disputes.

The Russian chief executive also urged the ambassadors to be on guard against aggressive attitude on the part of Moscow’s Cold-War era enemies.

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