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Woe is us!

The Bank of Italy reports that 50% of the Italian families live on less than 2,000 euro a month, and that only one family in two has an annual income higher than 24,590 euro, while 20% have to manage with an income of less than 14,457 euro (1,200 euro a month), which is below the “poverty line” which Bankitalia sets at 15,300 Euro/year. One Italian in three says they don't earn enough to "make it to the end of the month."

Adding the fixed expenses that every family of three has to incur it is easy to see how for a lot of people it is impossible to buy a washing machine or a pair of shoes, take a trip or buy a new car, even if economical. It is only by increasing the economic availability of the mass of citizens that it will be possible to establish that virtuous circle of consumption-production-labor-taxes. Raising taxes won't achieve anything.

Three cheers for that Italian who, having emigrated to the States to open a pizzeria, decided of his own accord to raise his staffs' salaries from 7 to 10 dollars an hour,

Ugo Nazzarro

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