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RE: DTube - Saudi Arabia Sees Gas Prices DOUBLING As Economy Crumbles
Their gas is subsidized, their electricity is subsidized, utilities are subsidized. No taxes. In fact, if you are the right religion and have family connections, you get a government job which really means you don’t have to do any real work.
What really will happen is all these people are so accustomed to all these things that chaos is inevitable when the day comes when all those people have to turn their AC off when they leave the house because they will have to pay. Paying income taxes for the first time could very well start a revolt against all those thousands of princes that live in luxury off the Saudi government.
You say all these things are subsidized but no taxes. That subsidization comes from taxes.
Wrong. In Saudi Arabia, subsidies come from oil exports. That is why the Saudi royalty are filthy rich. In the past they have made so much that they have no taxes and still have so much that they subsidize things.
Now that oil prices are down, they are struggling to make ends meet.