
I did an analysis of the Government expenses as a percentage of GDP in Iceland, if you have not used the data that is published by Statistics Iceland, I highly recommend you do. If you see the trend it is quite clear where all the new tax rises are going it is being used to pay Households (34% increase from 2008) and for Social Security benefit (31% increase since 2008). I am not a big believe in the social benefit society or entitlement society but that is where the big increases are since the financial collapse in 2008. Another item that should be troubling is the increase in the purchases by the government. Who audits the Government? Are the purchases justifiable? What are we spending on Social Security benefits? these are the questions that Iceland should be asking its government not why are the taxes so high.
if you are interested in viewing the data and the graphs you can find it here
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