7 Major Sources of Economic Progress
Limits on Government Regulation
An Efficient Capital Market
Low Tax Rates
Spain’s top individual income tax rate is 52 percent, and its top corporate tax rate is 30 percent. Other taxes include a value-added tax and a capital gains tax. The overall tax burden equals 32.9 percent of gross domestic product. Government expenditures amount to 44.8 percent of domestic production, and public debt equals 94 percent of domestic output. Their government spending is up 39.8 but their fiscal freedom is down 53.1.
- Spain produces large crops of wheat, barley, vegetables, tomatoes, olives, sugar beets, citrus fruit, grapes, and cork.
- Spain is the world's largest producer of olive oil and Europes largest producer of lemons, oranges, and strawberries.
- The name Spain comes from the word Ispania, which means the land of rabbits.
- On May 15th many of the single women in Madrid visit the chapel called Ermita de San Isidro to prick their fingers with pins and put it in a vessel, in order to find a husband.
- Spain is the only country in Europe that produces bananas, besides a few small Portuguese islands.
- Most Spanish railroads, unlike those of the rest of Western Europe, use broad-gauged tracks, although some regional systems consist of narrow-gauge railways.