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  • Powell: Semiannual Monetary Policy Report to the Congress

    From federalreserve.gov

    Chairwoman Waters, Ranking Member McHenry, and other members of the Committee, I am pleased to present the Federal Reserve's semiannual Monetary Policy Report to Congress. Let me start by saying that my colleagues and I strongly support the goals of maximum employment and price stability that Congress has set for monetary policy. We are committed to providing clear explanations about our policies and activities. Congress has given us an important degree of independence so that we can effectively pursue our statutory goals based on objective analysis and data. We appreciate that our independence brings with it an ... (full story)

Added at 8:32am

  • Powell: ‘Crosscurrents’ are weighing on the economic outlook so Fed will ‘act as appropriate’

    From cnbc.com

    Business investments across the U.S. have slowed recently as uncertainties over the economic outlook linger, Federal Reserve Chair Jerome Powell said Wednesday in prepared testimony to the House House Financial Services Committee. Powell added the central bank will “act as appropriate” to maintain the current economic expansion. His testimony comes after the Fed opened the door to cutting rates at its previous monetary policy meeting in June. Back then, the Fed said it will “act as appropriate” to maintain the current economic expansion. Markets cheered the central bank’s remarks, reaching all-time highs ... (full story)

Added at 8:40am

  • Jerome Powell Signals Openness to Rate Cut as Uncertainty Dims Outlook

    From bloomberg.com

    Federal Reserve Chairman Jerome Powell said downside risks to the economy remain with trade wars softening business investment and weak inflation, signaling that policy makers may be poised to cut interest rates as soon as this month. Since Fed officials met in June, “it appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook,” Powell said in prepared remarks to U.S. lawmakers Wednesday. “Inflation pressures remain muted.” The Fed chief’s semiannual testimony supports the market view that the central bank is ... (full story)

wut
exactly...
Take the dollar bear
dovish statement and rate cut by 0.25 certain.
ff calendar no good!
no cut rate ... strongly USD
Dovish statement. Rate cut is certain, either .25% or .50% if UST yields drop faster.
  •  Guest
  • | IP XXX.XXX.243.179
Time to reduce cost of usd for long again in the future
Quoting hesron
no cut rate ... strongly USD
Until next fed meeting dollar is down! For sure!
Wait... what happened to that guy said that there would be no rate cute because the FED said there wouldn't be one last month? 🤣 STOCK MARKET UP!
no rate cut on july but next months it is possible if there will be more economic slow down
NZDUSD very strong buy signals, trade with gold up!
dovish? nothing new, he already planned to cut 50 points. buy usdcad
ya no rate cut in july
just rumour create by market maker
News came way earlier than the ff calendar schedule... Missed a good trade.
goodshit ff calender, was planned 2 hrs later according to them... ffs
Shit. Why forexfactory was set that time around 10AM GMT+6. Bullshit.
Luv.. how people who were not in the market just act like "OF COURSE, DUH" ... No news release.. = no data.. = markets are slightly rigged in favor of elites... because they get data first and banks push markets. Before us "LOW LIFES" get the data.
Blame the ff please... The schedule is super wrong. And because of this powell gold is suprisingly up like rocket to top again. Damn it
Short Gold and Buy Usd/MXN
every people cry now and market maker smile ... fuck for this suddenly news ...
Powell must have told his Friends to short Usd before the testimony.
Kerana news haram berjadah ni aku float Gu dsn Eu !!
Quoting Miracle.
Blame the ff please... The schedule is super wrong. And because of this powell gold is suprisingly up like rocket to top again. Damn it
The setups for USDCAD short, EU long, gold long, EN/EA short were there this morning, and even yesterday. Do you people enter a trade 5 min before news or something??? Also DailyFX showing 11am (NY) for powell, so the mistake lies deeper.
Quoting echo1
{quote}Do you people enter a trade 5 min before news or something???
No. News traders enter a trade when a news comes out.
im buy usdjpy... and im stick with that... keep buying...
Rate cut is coming. That's for sure, for now...!!!
Powell: We're concerned about high debt levels.
Yep I am keeping my buy on usdjpy too..
Quoting Niyang
im buy usdjpy... and im stick with that... keep buying...
Uj TP=111.00.World Tension too heavy on buyers.
Quoting Niyang
im buy usdjpy... and im stick with that... keep buying...
Did you bother to look at H4 and Daily? You are buying against the chart. But you are probably smarter than the chart, as most retailers think.
don't trade news today ... dangerous to trade
Usd/MXN buy tp=19.60
usdcad coming, let see who is more dovish
Cut rate 25/50
Quoting TraderTero
Hidden
Rich people don't care about tax cuts, because they don't pay taxes in the first place. All of them either launder money in offshore heavens or fake their profit/cost numbers.

I did some quick calculations and middle class income people do save some nice money by the tax cuts. Those with a job have no way of escaping taxes and those are sadly the only ones who pay taxes, anyway.
Powell testifies to a Maxine Waters chair committee? Last I heard Maxine thinks that big US banks are still making predatory loans to college students.
UJ goes to 107 ☄️☄️☄️☄️
is there any reason why nzd and aud moved also?
Quoting OnlineAddict
{quote} Rich people don't care about tax cuts, because they don't pay taxes in the first place. All of them either launder money in offshore heavens or fake their profit/cost numbers. I did some quick calculations and middle class income people do save some nice money by the tax cuts. Those with a job have no way of escaping taxes and those are sadly the only ones who pay taxes, anyway.
"Study Finds Trump Tax Cuts Failed to Do Anything But Give Rich People Money"
http://nymag.com/intelligencer/2019/...nvestment.html
Quoting TraderTero
{quote} "Study Finds Trump Tax Cuts Failed to Do Anything But Give Rich People Money" http://nymag.com/intelligencer/2019/...nvestment.html
Study? Really? You can't do simple math on your own? Go find some tax calculator and try to insert various incomes ranging from 30k to 100k a year, you can see for yourself what the effect is, instead of biased articles.
Quoting OnlineAddict
{quote} Rich people don't care about tax cuts, because they don't pay taxes in the first place. All of them either launder money in offshore heavens or fake their profit/cost numbers. I did some quick calculations and middle class income people do save some nice money by the tax cuts. Those with a job have no way of escaping taxes and those are sadly the only ones who pay taxes, anyway.
Trumps tax cuts and regulatory rollback has indeed been a boon for the middle-class. His small business numbers in particular have been great.

Unfortunately the Federal Reserve got in the way with tight policy and dampened some of the effects. On the other hand when Obama was doing everything he could to stifle the recovery the Federal Reserve was as loose as it gets.
Powel is doing his masters bidding in talking down USD, expect more later from FOMC minutes, but don't be surprised if there is little follow through before the reversal.
Quoting OnlineAddict
{quote} Study? Really? You can't do simple math on your own? Go find some tax calculator and try to insert various incomes ranging from 30k to 100k a year, you can see for yourself what the effect is, instead of biased articles.
I think you're both right that the middle class is shrinking, but I think both parties are to blame. Since Citizen United has become the law of the land, both parties have been taking in millions. If you look at a congressman or a senator net worth before they took office and their current net worth, they all became very rich while being in office. I don't think tax cuts as a fiscal stimulus is a bad idea. I think fiscal stimulus at the top of a long economic expansion is a bad idea. Interest rates were already low, cash was readily available for businesses and the DOW at that time was at it's all-time high. Since the tax cuts, businesses bought back shares and company gave out big bonuses ( don't get me wrong I love my bonuses). So now equities P/E rational are so high and interest rates are low, so what is an investor going to do? Buy more equities which causes asset bubbles. economic expansion always end which will lower US government (USG) revenue for social programs (which DEMS likes) and military (which the GOP likes). The tax cut compounds this issues because it requires a 4.0 %GDP growth to maintain the USG revenue current levels. So in a recession (which is coming) USG won't have enough resource for a strong fiscal stimulus. We can talk about monetary policy if anyone cares.

Cheers-
Constantine1
Quoting Rakeem
{quote} Until next fed meeting dollar is down! For sure!
i believe you know ... Usd is weakness
algos ...... vs ....... trader
lets see next on the great POTUS @realDonaldTrump tweet
Quoting OnlineAddict
{quote} Study? Really? You can't do simple math on your own? Go find some tax calculator and try to insert various incomes ranging from 30k to 100k a year, you can see for yourself what the effect is, instead of biased articles.
I dont understand. Whats biased about the Congressional Research Service report?
https://www.everycrsreport.com/reports/R45736.html

For Information: The Congressional Research Service is a legislative branch agency, housed inside the Library of Congress, charged with providing the United States Congress non-partisan advice on issues that may come before Congress.
Quoting RossEdwards
{quote} I dont understand. Whats biased about the Congressional Research Service report? https://www.everycrsreport.com/reports/R45736.html For Information: The Congressional Research Service is a legislative branch agency, housed inside the Library of Congress, charged with providing the United States Congress non-partisan advice on issues that may come before Congress.
Are you trying to say that people in the politics are not biased? If republicans order a research, it will favor them, if democrats order a research, it will favor them. If you do your own math, you get the real numbers.
Quoting OnlineAddict
Hidden
So very true!!!
Quoting OnlineAddict
{quote} Are you trying to say that people in the politics are not biased? If republicans order a research, it will favor them, if democrats order a research, it will favor them. If you do your own math, you get the real numbers.
You know @OnlineAddict, I think if you READ the report AND look carefully at the bipartisan mandate on which CRS reports are commissioned you may reconsider. My comment is not personal criticism or bickering. I read your news comments closely, and find much to agree with.
So on this, maybe lets both agree to differ?
I dont think anyone else is much interested in our differences of opinion. Respect.
  • Post #59
  • Quote
  • Edited at 1:49pm Jul 10, 2019 1:23pm | Edited at 1:49pm
Quoting RossEdwards
{quote} You know @OnlineAddict, I think if you READ the report AND look carefully at the bipartisan mandate on which CRS reports are commissioned you may reconsider. My comment is not personal criticism or bickering. I read your news comments closely, and find much to agree with. So on this, maybe lets both agree to differ? I dont think anyone else is much interested in our differences of opinion. Respect.
Look, all I am saying that whatever this report says, if you calculate taxes for people with average incomes before and after tax cuts, you will see they save some good amount of money. Here are a few examples.

30k per year, single - $400 less tax
30k per year, 2 kids - $1600 less tax

50k per year, single - $1100 less tax
50k per year, 2 kids - $2000 less tax

70k per year, single - $1800 less tax
70k per year, 2 kids - $2500 less tax
Quoting OnlineAddict
{quote} Did you bother to look at H4 and Daily? You are buying against the chart. But you are probably smarter than the chart, as most retailers think.
That is the reason 79 % of the traders are losing money on the market. Most of the people is relying on the low time frame trying to scalp, but is really important to have your strategy in place, check all the time frames from Monthly to 1H, and then everything will be more clear.. For example today on daily time frame USD/JPY was about to hit the 50 EMA and a minor rezistance at 108.85 and for that reason you should have waited and have more money in your account right now.
Quoting OnlineAddict
{quote} Look, all I am saying that whatever this report says, if you calculate taxes for people with average incomes before and after tax cuts, you will see they save some good amount of money. Here are a few examples. 30k per year, single - $400 less tax 30k per year, 2 kids - $1600 less tax 50k per year, single - $1100 less tax 50k per year, 2 kids - $2000 less tax 70k per year, single - $1800 less tax 70k per year, 2 kids - $2500 less tax
And how much less in tax for people who make 500k, 1M, 10M and own businesses?

Also the lower rates for individuals are not permanent. If you wanted to save the middle class, you would have given the all the tax cuts to them instead of the rich.

You also should have given proper tax cuts to small business owners instead of giving them to big business as most small business owners have S-corps and get taxed based on the company profit as individuals. Now small biz owners pay much more than the bigger companies owned by the rich. Liberals had nothing to with this tax cut which clearly favors the rich.
Quoting TraderTero
{quote} And how much less in tax for people who make 500k, 1M, 10M and own businesses?
Who cares? A person who makes 50k a year should not worry about people who make 500k a year, what would be the point?

Quoting TraderTero
Liberals...
Like I said before...it doesn't matter if republicans or democrats, the richest will never pay taxes, they will always find ways how not to pay them. I would give a flat 10% tax for everyone and then people wouldn't need to cheat and hide money offshore, it wouldn't be worth the hassle...because offshore isn't free also.
Quoting OnlineAddict
{quote} Who cares? A person who makes 50k a year should not worry about people who make 500k a year, what would be the point?
More equal wealth distribution is better for the society and economy. Someone who makes 10M per year has already everything and is thus likely to save his most of his additional money whereas the poorer people tend to consume most of their additional income. Henry Ford was clever enough to understand that paying more his employees made them able to buy his cars and he was actually the biggest winner but also the middle class won. The same principle still applies. You need a big and wealthy middle class, not a bunch of billionaires who spend their money to corrupt the society in order to grab more power.
Quoting TraderTero
{quote} More equal wealth distribution is better for the society and economy. Someone who makes 10M per year has already everything
So you want punish people for being successful? Who cares what those people have? They earned it, why should they be punished for it? Thats socialist thinking! I see you are from Finland, so you are kind of used to such a sick and disgusting system, where everyone who is smart and works hard has to give away most of his income to lazy people so they can play playstation at home, but your system will be broke in a decade also and then all you will have will be those lazy bums. Socialism never survives, its against human nature. Eventually people always get sick of working harder than others, if they see there is no point.
Quoting TraderTero
{quote} And how much less in tax for people who make 500k, 1M, 10M and own businesses? Also the lower rates for individuals are not permanent. If you wanted to save the middle class, you would have given the all the tax cuts to them instead of the rich. You also should have given proper tax cuts to small business owners instead of giving them to big business as most small business owners have S-corps and get taxed based on the company profit as individuals. Now small biz owners pay much more than the bigger companies owned by the rich. Liberals...

Why do you care how much money people are making? All you need to care about is your family and that your neighbour has food on his plate and roof over his head. Anything else is none of your business. If someone makes more money than you legally, good for them and hopefully they will invest back in the economy to provide more jobs. You would rather have them pay 80% tax for the government spend it on stupid s***. As we all know government is always responsible with taxpayers money...
  • Post #66
  • Quote
  • Edited Jul 11, 2019 5:35am Jul 10, 2019 6:21pm | Edited Jul 11, 2019 5:35am
Quoting TraderTero
{quote} And how much less in tax for people who make 500k, 1M, 10M and own businesses? Also the lower rates for individuals are not permanent. If you wanted to save the middle class, you would have given the all the tax cuts to them instead of the rich. You also should have given proper tax cuts to small business owners instead of giving them to big business as most small business owners have S-corps and get taxed based on the company profit as individuals. Now small biz owners pay much more than the bigger companies owned by the rich. Liberals...
"And how much less in tax for people who make 500k, 1M, 10M and own businesses?"
As we all know, a lot less tax in comparison to their earnings.
Attached Image (click to enlarge)
Click to Enlarge Name: Trump tax cuts.png Size: 72 KB
Monetary policy paragraph no 5

Committee saw no strong case for adjusting our policy rate.
Quoting OnlineAddict
{quote} So you want punish people for being successful? Who cares what those people have? They earned it, why should they be punished for it? Thats socialist thinking! I see you are from Finland, so you are kind of used to such a sick and disgusting system, where everyone who is smart and works hard has to give away most of his income to lazy people so they can play playstation at home, but your system will be broke in a decade also and then all you will have will be those lazy bums. Socialism never survives, its against human nature. Eventually...
As much as I like your notion of middle class shrinking heavily, I have to dig in deep on human nature.

Against the 'human nature' is a rather bold statement. Thanks to the last 100 years of social evolution and growing knowledge of social psychology, many now understand that human nature is as flexible as very well chewed chewing gum from which you can make a very big balloon that almost always pops in your face.

What is this 'human nature' stuff you're talking about so lightly? Do you see 'human nature' based only on theory that promotes the idea of Nature's social ladder in favour of stronger because that is the nature of things and because humans are a part of the same reality, it's in their nature also? The theory so welcomed by the 'successful'.

Or perhaps the human nature can be seen as generations of sons inherit their calling towards the calling of their father? (you know... it's in the 'genes'... like father like son... etc.)

Hopefully not... because both theories are completely out of sync with several universal truths.
Therefore obsolete to anyone who'd like to achieve sustainable and overall widely accepted goals.

Human nature is a sum of 'environmental influence'. 'ENVIRONMENT' being 'EVERYTHING SURROUNDING YOU FROM INSIDE AND OUTSIDE'. 'INFLUENCE' being 'EVERY BIT OF INFORMATION YOU RECEIVE FROM OUTSIDE AND INSIDE WORLD'.

Therefore when you're born, you're 'ALMOST' like a blank sheet of paper. It will be the environment through information you receive the real catapult to what you're about to become. The genes are only infinitely small part of this entirely 'HUGE' equation as they only decide the structure of your body and even that is afterwards mostly decided by information you receive from environment (nurture, stress, work, leisure etc)... therefore information influences genes and rarely vice versa.

But if we still shrink all above written to the game of survival only... socialism was invented by this very 'flexibility' of human nature to mitigate the problems that you described you saw in USA. You see... the countries like Finland and of course many others maintain their middle class also with multiple social programs that work towards 'inclusive' happy society (there's actually a worldwide happiness barometer... google it please, I've seen it, it's 'GREAT') rather than exclusive one. In all this survival game it is important that stronger 'protect' less fortunate. less 'successful' and less strong ones. This way more will survive and thrive... the pond from which the talents will arise will be bigger and more connected. (Exactly like in great animal nature's survival examples... google it)
Quoting bshappens
{quote} As much as I like your notion of middle class shrinking heavily, I have to dig in deep on human nature. Against the 'human nature' is a rather bold statement. Thanks to the last 100 years of social evolution and growing knowledge of social psychology, many now understand that human nature is as flexible as very well chewed chewing gum from which you can make a very big balloon that almost always pops in your face. What is this 'human nature' stuff you're talking about so lightly? Do you see 'human nature' based only on theory that promotes...
You know what I mean? If someone has an easy job, working few hours a day and makes 30k per year and pays 5k tax, so he keeps 25k. Someone working his ass off and making 100k a year...and because progressive socialist tax(normal in nothern Europe countries) pays 75% tax, so he also keeps 25k net at the end. Do you know how this ends? The other guy says "Fuck it, why should I work this hard to have the same as a lazy bum?". So he stops working, too. And thats how socialism always collapses eventually.
Quoting xtradex
{quote} Why do you care how much money people are making? All you need to care about is your family and that your neighbour has food on his plate and roof over his head. Anything else is none of your business. If someone makes more money than you legally, good for them and hopefully they will invest back in the economy to provide more jobs. You would rather have them pay 80% tax for the government spend it on stupid s***. As we all know government is always responsible with taxpayers money...
I explained it in my message already. High inequality is bad for the society and economy. Eventually it will lead to civil war and/or revolution.
Quoting OnlineAddict
{quote} So you want punish people for being successful? Who cares what those people have? They earned it, why should they be punished for it? Thats socialist thinking! I see you are from Finland, so you are kind of used to such a sick and disgusting system, where everyone who is smart and works hard has to give away most of his income to lazy people so they can play playstation at home, but your system will be broke in a decade also and then all you will have will be those lazy bums. Socialism never survives, its against human nature. Eventually...
I have lived several years in USA and can fully understand why the happiest people live in Nordic countries and why USA is far behind us in happiness.
Less than 20% of US people can define socialism correctly and you seem to be one of them. For example health care for all is not socialism. Actually in USA the cost per capita for health care is 3-4 more than in Finland and the results are not better. On top of that you leave million of people to die because of poor or no coverage.

Raw capitalism without any government control and regulation is doomed as people are far too selfish. The same thing also made communism to fail.
Quoting TraderTero
{quote} I have lived several years in USA and can fully understand why the happiest people live in Nordic countries and why USA is far behind us in happiness. Less than 20% of US people can define socialism correctly and you seem to be one of them. For example health care for all is not socialism. Actually in USA the cost per capita for health care is 3-4 more than in Finland and the results are not better. On top of that you leave million of people to die because of poor or no coverage. Raw capitalism without any government control and regulation...
I wouldn't give US as an example for a good working capitalism, its more of an oligarchy. But look at Canada for example. Good wages, low taxes, free healthcare, free schools and very safe. Thats a working capitalist country. You don't need 50-70% taxes as in some EU countries to have free healthcare, thats a myth and trust me, people paying such taxes are not happy. I have many friends from nothern Europe, they all seem happy on the outside, but when I got to know them, they are the most depressed and dark people I have met anywhere in the world. No wonder, they work their ass off to support the lazy bums...
Quoting OnlineAddict
{quote} You know what I mean? If someone has an easy job, working few hours a day and makes 30k per year and pays 5k tax, so he keeps 25k. Someone working his ass off and making 100k a year...and because progressive socialist tax(normal in nothern Europe countries) pays 75% tax, so he also keeps 25k net at the end. Do you know how this ends? The other guy says "Fuck it, why should I work this hard to have the same as a lazy bum?". So he stops working, too. And thats how socialism always collapses eventually.
I want to clarify your take on the definition of a 'lazy bum'. Is that the one who can't find well paid work (because of obvious reasons (laziness can be one of them, but usually a minuscule one)). Or is that the one who inherited wealth, never worked a day in his life, needs an assistant to get through the day etc. You get the picture as these two are drastic examples. But these very examples get blurred and overlooked in every day's survival game. Those 'working' do not just quit, because they also need moneys every month and those 'lazy' don't lay down all the time also.

If you one day find yourself among those 'lazy' ones (in orthodox capitalism those include also injured, sick, homeless, ones who are not able to pay for electricity, or are born into very poor families and many others who have to work for up to 16 hours/daily for a few $$) where would you rather have a head start to build-up your life... orthodox capitalism or more inclusive society like socialism?

Obviously this was a hint. Unfortunately the correct answer gets overlooked by almost everyone because of 'big eyes' effect until they realise the truth the hard way.
Quoting TraderTero
{quote} I have lived several years in USA and can fully understand why the happiest people live in Nordic countries and why USA is far behind us in happiness. Less than 20% of US people can define socialism correctly and you seem to be one of them. For example health care for all is not socialism. Actually in USA the cost per capita for health care is 3-4 more than in Finland and the results are not better. On top of that you leave million of people to die because of poor or no coverage. Raw capitalism without any government control and regulation...

There is no such thing as raw capitalism or laissez-faire capitalism anymore. In the US private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy. The US government sets upper and lower limits i.e Laws and regulations. These laws and regulations aren't perfect. Case in point under Bill Clinton's Community Reinvestment Act, regulators granted banks the authority to underwrite higher risk mortgages and lower the down payment requirements from 20% to 3% and in 2000 to zero percent down. This was one of the reasons why the 2008 financial crisis happened. What makes capitalism worth keeping is innovation. Since everything is privately own and are competing with each other for a competitive advantage, America is leading the world in almost every next generation technology and services. For example Google, Facebook, Amazon, Harvard University, Stanford university, JP Morgan, Goldman and Sachs, etc. The Next generation fighter (F-35) is built by Lockheed Martin and sold to NATO (design and built in America).

Pure socialism doesn't work, it didn't work for the USSR and it was the main reason why the USSR doesn't exist anymore. In socialism the public owns all resources. Thus, the government would own all sorts of businesses, land, property, and other means of production that now belong to individuals. In America the US government owns the US Postal Service, which is on track to have 13 years in a row of operating at a loss. The US Postal Services yearly loss is in the billions. Government run enterprises are in general inefficient and ineffective.

Denmark, Sweden, and Norway are NOT socialist economic countries. Denmark ranks 10th in the world for it free market economy. (ranking from The Heritage Foundation’s Index of Economic Freedom) All the countries above credited their high standard of living in part to their free market economy.
Quoting OnlineAddict
{quote} I wouldn't give US as an example for a good working capitalism, its more of an oligarchy. But look at Canada for example. Good wages, low taxes, free healthcare, free schools and very safe. Thats a working capitalist country. You don't need 50-70% taxes as in some EU countries to have free healthcare, thats a myth and trust me, people paying such taxes are not happy. I have many friends from nothern Europe, they all seem happy on the outside, but when I got to know them, they are the most depressed and dark people I have met anywhere in...
I don't know any EU country which would have 50-70% average tax rate. Those type of margin rates are possible for high incomes. The fact is that in USA people pay 3-4 more per capita for health care. I'm more than happy pay the fees as part of my income tax instead of paying 3 times more directly to a private insurance company whose only goal is to make profits from my body.
Quoting TraderTero
{quote} I don't know any EU country which would have 50-70% average tax rate. Those type of margin rates are possible for high incomes. The fact is that in USA people pay 3-4 more per capita for health care. I'm more than happy pay the fees as part of my income tax instead of paying 3 times more directly to a private insurance company whose only goal is to make profits from my body.
For example in Sweden, if you earn 50k yearly, which is not even that high, you pay 28k in taxes and only keep 22k, so 56% tax. That is absolutely ridiculous. Who would defend this? Its beyond me. And do not tell me, the money is needed to pay for healthcare, schools, etc...because ITS NOT! 10-20% taxes are all it takes to finance everything...if it was spent effectively and politicians wouldn't steal. So if you pay high taxes, you are not supporting your community, you are supporting politicians and companies who are managing them, because they divide all that money between themselfs. Plus, it goes even to people who never worked and never will work and to illegals, who came just because of that free money.
Quoting OnlineAddict
{quote} For example in Sweden, if you earn 50k yearly, which is not even that high, you pay 28k in taxes and only keep 22k, so 56% tax. That is absolutely ridiculous. Who would defend this? Its beyond me. And do not tell me, the money is needed to pay for healthcare, schools, etc...because ITS NOT! 10-20% taxes are all it takes to finance everything...if it was spent effectively and politicians wouldn't steal. So if you pay high taxes, you are not supporting your community, you are supporting politicians and companies who are managing them, because...
Actually I have friends in Sweden and none of them work for more than 30 hours weekly. They say that after 30 they start paying too much tax and is a loss of time and effort to make hours above 30 per week.
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  • | IP XX.XXX.134.109
Quoting OnlineAddict
{quote} For example in Sweden, if you earn 50k yearly, which is not even that high, you pay 28k in taxes and only keep 22k, so 56% tax. That is absolutely ridiculous. Who would defend this? Its beyond me. And do not tell me, the money is needed to pay for healthcare, schools, etc...because ITS NOT! 10-20% taxes are all it takes to finance everything...if it was spent effectively and politicians wouldn't steal. So if you pay high taxes, you are not supporting your community, you are supporting politicians and companies who are managing them, because...
Perhaps you should worry less about other countries and concentrate on your trading of longs GBP? If not, we can all consider a career change into politics.
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  • | IP X.XX.33.2
Quoting TraderTero
{quote} I don't know any EU country which would have 50-70% average tax rate. Those type of margin rates are possible for high incomes.
As I understand for 100K salary you paying 43.9 % income Tax + ridiculous 24% sales tax in the store.
  •  Guest
  • | IP XX.XXX.72.148
no rate cut, DOH!
Do you know where I can see news that tells the estimates that the dollar will reach in pesos, as if the peso were going to be strong or not?
  •  Guest
  • | IP X.XXX.172.213
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