Bulgaria, a small country on the east of the Black Sea, has had major economic problems and due to austerity, which is sweeping it’s debt infested hand across southern and eastern Europe, protests have become as common place as unemployment.
Boiko Borisov, the now former Prime Minister who took power in 2009, had promised to root out all of the issues in Bulgaria, namely the hiked up energy prices for heat, and if you have seen Bulgaria, that place can get pretty cold at night.
So what does Borisov and his GERB party decide to do? They levied fines against CEZ and other companies and artificially lowered power prices to ease some of the tension of the Bulgarian people; all before they put in their collective, yes collective, resignations with a big middle finger to pretty much everyone.
Bulgaria was a hot spot for companies because of their 10% flat tax rate and while it brought some prosperity to Bulgaria, it ended up biting them badly because well, those companies don’t like paying any taxes and they love to hike prices on people. Even when the median income in Bulgaria is less than half the European Union average, that median income for Bulgarians equals roughly 800 levs, or $550 in USD per month. Unemployment is far from the worst it has ever been, but since the Communist regime was ended they have had an increase to 11.9% unemployment.
So looking at America really quick, remember Herman Cain’s 999 plan? That everything would be a flat 9% tax? Look at Bulgaria, a country of 7.3 million people and see that a flat rate tax like that benefits only the wealthy and businesses, not the average person. Austerity has caused widespread panic, discontent and protest across Europe and if we keep heading the way we are with abuse from both government and billion dollar business, we will be headed even further down the same road as Bulgaria and Greece.
Till then, look at this situation, while I laughed when I read this, it is really terrifying. Government officials, the most corrupt of groups in the world, couldn’t take the bullshit anymore and literally said f–k it, we’re done. When corrupt politicians who get free money, gifts, hookers, vacations and so on so they are tired of dealing with debt, business and an upset public, we are all screwed. Let’s do what Bulgaria just did… f–k it.