Thursday, March 19, 2015

52% tax rate for income above EUR56532 (around USD60k).




The top five countries with high income tax rates for non high income earner (below USD100k except for Aruba) are :
#1 Aruba: 58.95%  #2 Sweden: 56.6% #3 Denmark: 55.38% #4 Netherlands: 52% #5 Belgium: 50%





Thursday, March 12, 2015

€2.4m paid to criminal by Justice Minister

""The Dutch justice minister has resigned in an ongoing scandal over a deal amounting to millions of euros that was struck by prosecutors with a famous drug trafficker 15 years ago.
“There has been uncertainty over this matter for too long,” Ivo Opstelten told journalists at a press conference in The Hague on Monday night.
“I take full responsibility, so I have just submitted my resignation to the king.”
Opstelten and secretary of state Fred Teeven submitted their resignations hours after the ministry said it had found evidence of the exact amount paid to a trafficker referred to as Cees H at the time: 4.7m Dutch guilders (€2.4m).
The deal made by Teeven – then attorney general – in 2000 saw the money, which has been seized as part of an investigation, paid back to Cees H via accounts to Luzembourg without notifying tax authorities.
Last year Opstelten said there was no evidence of the agreement when questioned by MPs following media reports about the affair.
“The investigation failed to find bank statements or other documents but I have indeed digital proof that the 4.7m guilders was transferred to Cees H,” Opstelten said on Monday.
http://www.theguardian.com/world/2015/mar/10/netherlands-justice-minister-resigns-in-drug-money-scandal""
What does it mean for the people?
1) How much was being negotiated away by government officers without any proper approvals?
2) Is the money really meant to nab a bigger criminal or it ends up conveniently from public money into private hands?
3) Is it encouraging people to be a criminal?

€1 trillion rescue plan by EU central bank

"1. What is QE?

Quantitative Easing is a program of bond purchases by the ECB. The central bank buys government bonds to inject new cash in the economy. It is an emergency mechanism that is used very sparely. Because it is used so sparely and has such a big impact, it is sometimes referred to as "the bazooka."

2. How big is it?

The programme will reach a total of more than €1 trillion (£720 billion) in bonds. The ECB will buy the bonds on a monthly basis, starting today. Every month the bank will spend €60 billion (£43.24 billion). It is worth noting that this figure is much bigger than the one the market were expecting before the programme was announced. Prior to the announcement,analysts were expecting something in the range of €500 to €600 billion (about £400 billion).

3. How long will it last?

The programme is set to run until September 2016, for a total of 19 months. At the same time, though, the ECB has kept the door open to run QE "until the Governing Council sees a sustained adjustment in the path of inflation that is consistent with its aim of achieving inflation rates below, but close to, 2% over the medium term." Inflation rates are currently around 0% for the Eurozone, which is fighting deflation.

Read more: http://uk.businessinsider.com/5-things-to-know-about""


What does it mean for the people:
1) Things will get expensive. Petrol prices already risen more than 10% from Dec 2014.
2) Capital flee. This will further harm those eu banks which are short of cash.
3) Investor will delay investing or purchasing until euro hits rock bottom.
4) The ruling elite class get richer and the rest get poorer and more debts.