ERICKXSON said:That 15% on the interest is a pipe dream which will never come true. i wonder what the hell are those guys smoking geeeee! must be good.
BushBaby said:But think on a bit gentlemen. At present the only people who can afford to HAVE bank savings are those with MONEY. A lot of them are holding 60 day or more certificados & getting 50% or more pa from Banco Central. Now, IF those certificados are LOCKED in for 12 months or more, then the Government would get 15% of that 50%, making the NET interest down to 35% - MUCH more acceptable to the overall scheme of things.
Grahame
Surely this is not correct.
The interest rate of 50% or whatever is paid on the capital investment. The proposed 15% tax will be levied on the interest earned. I don't think therefore that the NET interest earned reduces to 35%, doesn't it make the NET interest somewhere between the two?
For example
$100,000 investment at 50% would pay $50,000
Proposed tax @ 15% is $7,500
Leaving $42,500 and therefore a true NET interest rate of 42.5%
am I missing something?
gjsuk said:BushBaby said:But think on a bit gentlemen. At present the only people who can afford to HAVE bank savings are those with MONEY. A lot of them are holding 60 day or more certificados & getting 50% or more pa from Banco Central. Now, IF those certificados are LOCKED in for 12 months or more, then the Government would get 15% of that 50%, making the NET interest down to 35% - MUCH more acceptable to the overall scheme of things.
Grahame
Surely this is not correct.
The interest rate of 50% or whatever is paid on the capital investment. The proposed 15% tax will be levied on the interest earned. I don't think therefore that the NET interest earned reduces to 35%, doesn't it make the NET interest somewhere between the two?
For example
$100,000 investment at 50% would pay $50,000
Proposed tax @ 15% is $7,500
Leaving $42,500 and therefore a true NET interest rate of 42.5%
am I missing something?
I was going to say the same thing until I got to your post. IMHO if the government in the DR wasn?t so corrupt I suspect they wouldn?t need any new taxes.
if the government in the DR wasn?t so corrupt I suspect they wouldn?t need any new taxes.
gmiller261 said:Cut government spending (on bull****) and unnecessary jobs. 180 odd Generals...... Please.
Gary
gjsuk said:BushBaby said:But think on a bit gentlemen. At present the only people who can afford to HAVE bank savings are those with MONEY. A lot of them are holding 60 day or more certificados & getting 50% or more pa from Banco Central. Now, IF those certificados are LOCKED in for 12 months or more, then the Government would get 15% of that 50%, making the NET interest down to 35% - MUCH more acceptable to the overall scheme of things.
Grahame
Surely this is not correct.
The interest rate of 50% or whatever is paid on the capital investment. The proposed 15% tax will be levied on the interest earned. I don't think therefore that the NET interest earned reduces to 35%, doesn't it make the NET interest somewhere between the two?
For example
$100,000 investment at 50% would pay $50,000
Proposed tax @ 15% is $7,500
Leaving $42,500 and therefore a true NET interest rate of 42.5%
am I missing something?
Graham,
I stand corrected & of course you are correct!! My only excuse is that I was working late at night & the brain was not functionioing correctly (At MY age I am delighted it still functions partially!!).
The point remains though that THESE are the people who CAN afford to pay for some of the income the Government needs to get over the present problems! IF (& I agree it is a very big IF) this produced a more transparent & equal distribution of wealth income, a lessening of the burden to businessmen throughout the country allowing them to employ more people, then I for one would be content to pay the 15%. So many of us (YES, I mean US) are happy to circumvent paying taxes due at the moment, that WE are one of the reasons for lack of proper funds being available to do the things that need doing!! NO! I am not naive enough to believe that if we all paid our FULL dues that ALL of that money would go to Hospitals, road repairs, education etc. & YES, I do understand that all Governments will hive off some of what we pay into the pockets of the people running the country. I am of course only saying that I would be preapred to pay the increased taxes due IF taxes are approportioned & collected EQUALLY & shown to be used PROPERLY as per the area they were installed for!! Wishful Thinking?????
Again - thanks for the correction - Grahame.
BushBaby said:Graham,
YES, I do understand that all Governments will hive off some of what we pay into the pockets of the people running the country. I am of course only saying that I would be preapred to pay the increased taxes due IF taxes are approportioned & collected EQUALLY & shown to be used PROPERLY as per the area they were installed for!! Wishful Thinking?????
Again - thanks for the correction - Grahame.