Comments by "zjeee" (@zjeee) on "Economics Explained" channel.

  1.  @Notmyname1593  It will be better for the UK population as a whole if companies start hiring UK citizens instead of bringing in cheap labor from Poland, Romania etc pushing down the salaries for everyone within that industry.
    135
  2. Also the salaries have started going up when companies cannot import cheap labor from the poorer EU countries pushing the salaries down. I think Pikachu will be happy when he sees his salary increase.
    2
  3. The EU isn't all about the economy, if it was then the UK would not leave. The reason countries stay in the EU is for the economic benefit nobody wants to be told what to do by some far flung un-elected bureaucrats in Brussels
    1
  4. Because the government took over all profitable companies so basically they own the company assets.
    1
  5. I like how the EU labor agreement is explained to be that companies can pick the best and brightest people from all over the EU to other countries and then it transitions over to the UK and truck drivers. The reason UK had such a high demand was not because the UK lacks truck drivers it's because it's so much cheaper to hire truck drivers from outside the UK so you can circumvent all labor laws and salary requirements you would have to abide by if you hired UK truck drivers. So yeah prices will surely rise as a result but hopefully this means less people unemployed in the UK as UK companies will finally start to hire locals instead of bringing in people from Romania ignoring all labor laws and giving them a rock bottom salary. It's a bit tragic and comical that following labor laws and providing a fair salary for your own citizens is actually a bad thing for the economy. Globalism in a nutshell.
    1
  6. Nobody in my Chinese wife's family has ever paid tax I am a foreigner and they think it's so funny I am the only one paying taxes. It's pretty simple really if you get less than 5000 RMB per month (around 730 dollars) you pay no tax. Number one, on the countryside the average salary is below 5000 RMB so they don't pay tax anyway. Number two, the people that do can circumvent this very easily. One way is that your company will register your salary as for example 3000 RMB which they pay to your account and then give you the rest in cash. Another way is the company will register workers that doesn't exist, for example you get 14000 RMB salary so you need to pay tax. What you do is your company will register your mother and your spouse working for them and write down their accounts. When it's time for your salary they will send 5000 to you 5000 to your spouse and 4000 to your mother. Companies will always do this because it's cheaper for them imagine if they pay you 14.000 rmb and the government takes 2000 (just an example) and you get 12.000 RMB after tax. What they do is they offer their employee 13.000 RMB but they pay no tax, the employee gets 1000 RMB more every month and the company pays 1000 RMB less in salary. It's a win-win and that's why everyone does it. I remember asking my wife once if she felt bad she was not paying taxes and she just told me that money is going to the police, the military or into corrupt officials pockets anyway so she does not feel bad, which I guess in China's case is true.
    1