Taxing the Hidden Economy

There is a radical proposal in Iceland to restore the economy and rescue the nation from bankruptcy: expand the tax base to recover revenue from the extensive underground economy.

Tax the fucking elves!

Translation by Alda at the Iceland Weather Report

Yeah! The Free Ride Is Over.



Party is over, Elves!

Income and capital gains taxes on the elves - especially the High Light Elves, that should cover the repayments to the UK all by themselves. This applies to all the Hidden Folk.

Ghosts, zombies and others in the afterlife will be charged a Death Tax.

Dwarves will, finally, pay VAT!
That should level the playing field for domestic human manufacturers, as well as provide a healthy revenue stream.

The Land Wights will pay resource use taxes and energy extraction fees, while migrating fowl and other transients will pay transit taxes as well as occupation taxes for those overnighting or on extended stays.

Trolls, remain exempt while a cost-benefit analysis of collection costs is performed.

from Baggalútur

More like this

Krugman is is on fire today, as he has been for a while, this time talking about the tax cuts. But, even he makes an essential error that all the democrats seem to be making.
I'm no fan of tax expenditures. I'm not even particularly fond of most tax deductions regardless of whether or not they're based on religion. Taxes should be about raising revenue, and a complex tax code just makes inserting more loopholes--as well as outright cheating--even more possible.
Julia Gillard has done a backflip and agreed to introduce a budget-neutral carbon tax after last year promising not
Yesterday, the President told Kansas: "if you vote Democrat, you're voting for a tax increase."

Trolls, remain exempt while a cost-benefit analysis of collection costs is performed.

Or better yet, hire them as tax collectors. (Although I don't know - do Icelandic trolls do that hiding-under-a-bridge-and-collecting-tolls thing?)

By Phillip IV (not verified) on 19 Nov 2009 #permalink

Those blasted Icelandic troll-tolls.

By Craig Heinke (not verified) on 21 Nov 2009 #permalink