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Topic: Underground economy

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	Underground economy - Wikipedia, the free encyclopedia
		Underground economy transactions are typically cash transactions to avoid traceability by governments or complex financial operations involving the use of multiple subsidiaries and tax havens, as the Attac NGO has underlined.
		Measurement of the size of the underground economy is subject to a large margin of error.
		The underground economy, when trading decisions are not the result of coercion, is arguably a free market, since, by definition, it lacks government intervention.
	en.wikipedia.org /wiki/Underground_economy (549 words)

	Underground Economy
		The underground economy involves the exchange of goods and services which are hidden from official view.
		Since the 1930s, the underground economy continued to change as taxation and government regulation grew, while its illegal sector began emphasizing new activities.
		Perhaps the most unusual part of the underground economy was Jane, a group founded in 1969 by feminists in Hyde Park to provide abortions.
	www.encyclopedia.chicagohistory.org /pages/1280.html (1493 words)

	The Korea Times : Korea Struggles With Underground Economy (Site not responding. Last check: 2007-10-26)
		It is called the ``underground economy.’’ The history of underground economy is as old as the history of the government.
		The main causes of the informal economy found in most of the studies are typical: higher taxes, excessive government regulation of economic activities, corruption and bureaucracy.
		Underground cash, which is most likely used for speculation, triggers asset bubbles in the economy, as seen in the Korean real estate market.
	times.hankooki.com /lpage/biz/200512/kt2005122721065911860.htm (1257 words)

	UNDERGROUND ECONOMY - Get the Facts
		This was the third factor behind the growth of the underground economy in the early 1990s.
		The relationship of self-employment to the underground economy is complex.
		The underground economy is a growing and serious problem for the legitimate construction industry.
	www.undergroundeconomy.ca /stats.html (602 words)

	Iran’s Underground Economy
		The size of any country’s underground economy normally depends on the burden and complexity of its tax system, the severity of its penal code, the enforceability of its financial regulations, and its society’s tolerance for official corruption.
		The underground economy has had a long history in Iran both as a legal source of finance within the bazaar as well as a vast arena for both tax dodging and unlawful activities.
		The rise in total liquidity is taken to indicate an expansion in the size of the underground economy on the assumption that nearly all unregistered transactions are customarily conducted in cash.
	www.mees.com /postedarticles/oped/a46n36d01.htm (2526 words)

	The underground economy
		The underground economy typically involves commercial activity that is unreported for tax purposes.
		Underground economic activity is particularly prevalent in industry sectors where cash transactions are common, such as hospitality, automotive repairs and construction, including home renovations.
		Those who participate in the underground economy avoid their tax responsibilities at your expense, and place an unfair burden on all law-abiding taxpayers.
	www.cra-arc.gc.ca /agency/alert/underground-e.html (818 words)

	Section 1
		A conclusion that the underground economy is large and growing has some serious implications: the recession and rising unemployment of the early 1990s may have been illusory, a sizeable portion of the population may be evading their fair share of the tax burden, and Canada's statistical system may be leading the country astray.
		At the most general level, the underground economy may be defined as the portion of the total economy that is unobserved due to the efforts of some businesses and households to keep their activities undetected.
		Because the underground economy is small in relation to the economy as a whole, then, the impact of its omission on measured GDP growth rates is quite small.
	oldfraser.lexi.net /publications/books/underground/section_1.html (19595 words)

	FrontPage magazine.com :: Going Underground: America's Shadow Economy by Jim McTague
		America has two economies, and one is flourishing at the expense of the other. First, there's the legitimate economy, in which craftsmen are licensed and employers and employees pay taxes. Then there's the fast-growing underground economy, where millions of nannies, construction workers and others are paid off-the-books, their incomes largely untaxed.
		What is largely fueling the underground economy, experts say, is the nation's swelling ranks of low-wage illegal immigrants. The government puts this population at 8.5 million, but that may represent a serious undercount.
		Growth of the underground economy is partly a result of corporate downsizing, which has forced many former employees to go out on their own.
	www.frontpagemag.com /Articles/ReadArticle.asp?ID=16532 (372 words)

	Fraser Institute Archived Information (Site not responding. Last check: 2007-10-26)
		While their calculation that the underground economy could be as much as 20 percent of the measured economy has received considerable attention, the estimates made by Mirus' and Smith's methods attract controversy and criticism by statisticians working for Statistics Canada and other statistical agencies.
		Section Two of The Underground Economy: Global Evidence of its Size and Impact outlines a perspective of the UGE which is not often encountered, specifically, the view of law enforcement officials.
		The studies of the underground economy in the various countries represented at this conference have led to an understanding of the enormous flexibility of the market economy to respond to unreasonable regulation or unsustainable tax rates.
	oldfraser.lexi.net /publications/books/underground (4631 words)

	AlterNet: The 'New' Economy?
		As the economy tanks and unemployment jumps to 6 percent nationwide--the highest since July 1994, the "underground economy" option is looking pretty good to many Americans.
		In addition, it estimates the underground economy is anywhere from 3 to 40 percent of the above ground economy.
		Legal or not, what these activities have in common is their contribution to the multi-billion dollar underground economy prospering unofficially outside the realm of the struggling conventional economy.
	www.alternet.org /story.html?StoryID=14909 (1483 words)

	Economic Issues No. 30 -- Hiding in the Shadows : The Growth of the Underground Economy
		In Latin America in 1998-99, the biggest shadow economy was in Bolivia, at 67 percent of GDP, and the smallest was in Chile, at 19 percent.
		Among the states of the former Soviet Union in 1998–99, Georgia's shadow economy was the largest, at 64 percent of GDP; Russia's was 44 percent of GDP; and Uzbekistan's was the smallest, at 9 percent.
		For example, among 84 developing, transition, and advanced economies, a one point increase in a regulation index (ranging from 1 to 5) is associated with a 10 percent increase in the shadow economy.
	www.imf.org /external/pubs/ft/issues/issues30/index.htm (3535 words)

	NCPA - BA #273 - The Underground Economy
		NCPA - BA #273 - The Underground Economy
		Another way to measure the underground economy is to look at the growth of currency in circulation, especially large bills such as $100 bills.
		Since the underground economy operates almost exclusively in cash, unusual increases of cash in circulation are considered a valid indicator of its growth.
	www.ncpa.org /ba/ba273.html (1028 words)

	Bruce Bartlett: THE UNDERGROUND ECONOMY
		A recent book, The Shadow Economy: An International Survey (Cambridge University Press) by economists Friedrich Schneider and Dominik Enste, estimated the U.S. underground economy at between 6.7 percent of GDP and 13.9 percent in 1990, depending on the method used for calculation.
		Hence, it is reasonable to assume that the increased demand for $100's is due almost entirely to an increase in the underground economy.
		The former chief economist for the International Monetary Fund notes that the European currency, the euro, is now competing for the underground economy's business by having 500 euro notes, worth more than 5 times the U.S. $100, the largest bill printed by the Treasury in more than 50 years.
	www.ncpa.org /edo/bb/2004/20040714bb.htm (863 words)

	Tax cuts won't solve growing underground economy: study (Site not responding. Last check: 2007-10-26)
		The study estimates the underground economy had grown to nearly 16% of the above-ground economy by the mid-1990s from 3.5% in the early 1970s.
		"The period of high taxation drives people into the underground economy where they establish close relationships and social networks between other people who are active in the underground economy," she said.
		He agreed, however, that recent tax cuts may not have been enough to shrink the underground economy, in part because the study also found that economic growth in the above-ground economy feeds growth in the underground economy.
	home.cc.umanitoba.ca /~tedds/Taxcutswontsolvegrowingue.htm (643 words)

	BCTD Canada: Underground Economy
		The construction industry knows it is a very large problem, and solving the underground problem in the industry may well be worth billions in tax revenue.
		Beating the underground economy is one of our top priorities, and we are working with industry partners and the government to find solutions.
		The KPMG study showed that a major contributor to underground economy activity in the construction industry is cash-and-dash payments.
	www.buildingtrades.ca /english/economy.html (285 words)

	THE STATE AND THE UNDERGROUND ECONOMY
		The study did indicate that increasing taxation between 1976 and 1995 contributed to driving people into the underground economy, driving the practice from 3.5% of the economy to 16%.
		The government's most likely "underground economy" targets would be those citizens who have no connection to either the prostitution or drug trades.
		That their so-called "criminal" activities in the underground economy may have actually benefited other citizens living in their communities will be totally irrelevant in the eyes of the government officials.
	www.quebecoislibre.org /020316-10.htm (2607 words)

	Demetrius at The Australian National University: Item 1885/41778
		The underground economy is having three important negative effects on migrants.
		Working predominantly in the underground economy and living without the necessary documents had contributed to the stigmatisation of migrants.
		The size of the underground economy must be reduced over time which requires these countries have to start focusing on tightening social control.
	hdl.handle.net /1885/41778 (332 words)

	The Underground Economy (Site not responding. Last check: 2007-10-26)
		The underground economy, political regimes, and economic growth: International evidence.
		Modelling the Underground Economy (a bibliography with some full text links), Demand for Currency and the Underground Economy and Tax Evasion and the Underground Economy.
		Underground economy skews statistics and shortchanges the tax man, but is that all bad?
	www.lib.washington.edu /business/tlc/archive/und.html (2105 words)

	Informal and underground economy
		The existence and increase of an underground economy gives rise to three major sets of concerns.
		A third concern interprets the underground economy as an indicator of an unhealthy state between citizens and government.
		The taxpayers are dissatisfied with what public services they get for their contributions and seek to restress the balance by evading to the underground economy.
	ideas.repec.org /p/jku/econwp/2000_04.html (385 words)

	IranianVoice.org - Iran's Underground Economy
		Alternately called informal, parallel, unofficial, unregistered, gray, and a host of other labels, the underground economy refers to activities - both lawful and unlawful - that elude taxation or escape registration in the country's gross domestic product (GDP).
		Iran's underground economy resembles a vast arena stage where not only the performing actors but also some of the spectators all play a part - legally or otherwise.
		On the whole, however, the net impact will be negative - reflecting a misuse of resources, low priority investment, a significant drag on economic development, and a strong impediment to the establishment of good governance.
	www.iranianvoice.org /article1161.html (2580 words)

	Underground Economy Constituent Report - September 1998 (Site not responding. Last check: 2007-10-26)
		This issue of the Underground Economy Constituent Report explains how to use the resources of the United States, California and the County of Los Angeles to unearth the Underground Economy in California.
		A Board of Equalization representative explained that the underground economy in California strikes at the basic fairness of our tax system and forces honest businesses and individuals to pay a disproportionate amount of taxes, since those operating in the underground economy are not paying their fair share.
		The term "underground economy" includes any economic activity that is unreported, and includes both legal and illegal activity.
	www.boe.ca.gov /members/chiang/constrpt/ueconstrp.htm (1354 words)

	Underground Economy
		The provincial government will aggressively target the underground economy to stem an estimated $2 billion annual loss of government revenue from the construction industry alone.
		Many of the costs associated with the underground economy are hidden.
		Estimates are that the underground economy is today costing the Ontario government up to $500 million and the federal government $1.5 billion.
	www.csao.org /UploadFiles/Magazine/VOL15NO1/undergrnd.htm (423 words)

	Underground Economy
		Under the FairTax, current tax evaders and those in the underground industries will pay their fair share in taxes.
		Also, under the FairTax non-compliance is greatly decreased, allowing enforcement agencies to concentrate on following the money to criminal activity rather than making potential criminals out of every taxpayer struggling to decipher the current tax code.
		All of this will help to generate money for the government from a much broader source as compared to the income tax system.
	www.fairtax.net /28.htm (173 words)

	HoweStreet.com (Site not responding. Last check: 2007-10-26)
		They are among millions of illegal immigrants who work in obscurity, in the shadows of the American economy, quietly bringing home wages from people and companies more than willing to hire them.
		The underground economy may indeed be growing, but tension is high on the question of immigration.
		The Detroit News is reporting the underground economy is growing as illegal immigrants head to new states.
	www.howestreet.com /mainartcl.php?ArticleId=1855 (2226 words)

	Fact Sheet - The Underground Economy
		The underground economy is often associated with the exchange of goods and services for cash where no records are kept.
		In Canada, there is an underground activity in many industry sectors, particularly the construction and hospitality sectors, and other sectors where cash is prevalent.
		Dealing effectively with the underground economy requires a balanced approach that includes both service and enforcement initiatives.
	www.cra-arc.gc.ca /newsroom/factsheets/2003/oct/1027undergr-e.html (378 words)

	Underground economy - Disenchanted Dictionary
		Deals for everything from drugs to cars to grocery items paid for “off the books” to avoid reporting them as sales and income that can be taxed and regulated.
		Argentina tried to raise taxes to pay off its debt, but that only had the effect of pushing more of its economy—up to a full third of it—underground.
		Russia is an example of the opposite, where portions of the economy came out of hiding when taxes were reduced, resulting in an ironic increase of tax revenue.
	www.disenchanted.com /dis/lookup.html?node=1765 (239 words)

	Underground Economy (Site not responding. Last check: 2007-10-26)
		“We are grateful to see articles such as the one you published on the underground economy.
		But at the moment we are not treated fairly because at least 70% of all residential and a substantial portion of commercial renovations are done through the underground economy...
		We spend far too many hours on people who simply call to get professional quotes and advice and then go with the one-man operator in the underground economy who works with his buddy when he needs a helping hand.
	www.csao.org /uploadfiles/magazine/vol15num2/underg.htm (152 words)

	FairTax and the Underground Economy
		It is impossible to argue in good faith that the current approach is doing its job since the problem is getting worse with the passage of time despite major and ever more intrusive attempts to address the problem.
		Some of the problems regarding the underground economy that exist under the income tax would remain under the FairTax, particularly those involving cash transactions made in the illegal economy or with the explicit intent of evading taxation.
		Much is made from the fact that a federal sales tax would place the responsibility for tax collection with the retailer, a sector of the economy in which small businesses are better represented.
	www.fairtaxvolunteer.org /smart/under_economy.html (2571 words)

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