{"id":12232,"date":"2015-03-13T09:00:48","date_gmt":"2015-03-13T13:00:48","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=12232"},"modified":"2015-03-13T08:09:42","modified_gmt":"2015-03-13T12:09:42","slug":"why-some-greeks-spend-more-than-100-of-their-income-paying-back-loans","status":"publish","type":"post","link":"http:\/\/www.Centives.net\/S\/2015\/why-some-greeks-spend-more-than-100-of-their-income-paying-back-loans\/","title":{"rendered":"Why Some Greeks Spend More Than 100% Of Their Income Paying Back Loans"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2015\/03\/031315_1204_WhySomeGree1.jpg\" alt=\"\" width=\"640\" height=\"445\" \/><\/p>\n<p>Greece has a tax evasion problem, and while many think of it as a problem within the elite oligarchy, the upper middle class contributes helps drive it wrote Mike Bird:<\/p>\n<ul>\n<li>Generally banks set up loans so that an individual would spend no more than 30% of their monthly income paying that them back.<\/li>\n<li>In Greece the average is 82%.<\/li>\n<li>For some professional classes such as lawyers, doctors, or those that provide financial services, more than 100% of reported income is spent paying back loans.<\/li>\n<li>This is largely because reported income is falsely under-stated to reduce income taxes.<\/li>\n<li>Banks know this, and when deciding whether or not to give out loans, they have models to take into account an individual&#8217;s job and their reported income. They can then calculate their probable <strong>actual<\/strong> income.<\/li>\n<\/ul>\n<p>Read more about the problem of tax evasion in Greece <a href=\"http:\/\/www.businessinsider.com\/this-is-the-real-reason-greece-has-a-massive-tax-evasion-problem-2015-2?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/www.businessinsider.com\/this-is-the-real-reason-greece-has-a-massive-tax-evasion-problem-2015-2?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29\">Business Insider<\/a><\/p>\n<p>Via: <a href=\"http:\/\/marginalrevolution.com\/marginalrevolution\/2015\/03\/greece-tax-evasion-fact-of-the-day.html\">Marginal Revolution<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Greece has a tax evasion problem, and while many think of it as a problem within the elite oligarchy, the upper middle class contributes helps drive it wrote Mike Bird: Generally banks set up loans so that an individual would spend no more than 30% of their monthly income paying that them back. In Greece [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2015\/03\/031315_1204_WhySomeGree1.jpg","_links":{"self":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/12232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=12232"}],"version-history":[{"count":3,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/12232\/revisions"}],"predecessor-version":[{"id":12235,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/12232\/revisions\/12235"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/12231"}],"wp:attachment":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=12232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=12232"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=12232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}