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Old 09-29-2008, 06:26 AM   #31  
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Quote:
Originally Posted by ⌐ AV8OR WANNABE View Post

This 'bailout' is very important to our profession (and the entire country) and therefore I'm replying to this 'political' thread.


In a nutshell in the early 90’s the Swedish government was forced to buy out over 20 billion dollars worth of 'junk loans" from many Swedish banks and institutions that were collapsing left and right - the economy improved within a year or so after this 'bailout' and once the loans were eventually auctioned off the Swedish government ended up making very healthy profits on those ‘junk loans’.

(Note - the article below mentions 67 billion Swedish crowns which at the time was equivalent to some 11 billion US dollars [rate of 5.5 SEK to 1 US$ at the beginning of the crisis]...


Here's the FT article...


Policy chiefs have an eye on ‘Swedish model’
By Christopher Brown-Humes
Published: September 21 2008 22:36 | Last updated: September 21 2008 22:36
l [/url]
And here's how they paid for it. Be careful what you wish for...


Tax Rates Around the World

(Note: Only the underlined countries are currently ready)
Country Income Tax VAT
Corporate Individual
Argentina 35% 9-35% 21%
Australia 30% 17-47% 10%GST
Austria 25% 21%-50% 20%GST
Belgium 33.99% 25-50% 21%
Brazil 34% 15-27.5% 17-25%
Bulgaria 10% 10% 20%
Canada 19.5%(federal) 15-29%(Federal) 5%(gst)
China 25% 5-45% 17%
Cyprus 10% 20-30% 15%
Czech Rep. 21% 15% 19%
Denmark 24% 38-59% 25%
Egypt 20% 10-20% -
Estonia 22% 22% 18%
Finland 26% 8.5-31.5% 22%
France 33.33% 10%-48.09% 19.6%
Germany 30-33%(effective) 15-45% 19%
Gibraltar 33% 0-40% -
Greece 22/25% 0-40% 19%
Hong kong 17.5% 2-17% -
Hungary 16% 18% and 36% 20%
India 30-40% 10-30% 12.5%
Indonesia 10-30% 5-35% 10%
Ireland 12.5% 20-41% 21%
Israel 27% 10-47% 15.5%
Italy 31.4% 23%-43% 20%
Japan 30% 5-40% 5%(consump)
Latvia 15% 25% 18%
Lithuania 15% 15%/24% 18%
Luxemburg 22% 0-38% 15%
Malta 35% 15-35% 18%
Mexico 28% 0-28% 15%
Monaco 33.33% 0% 19.6%
Morocco 35% 0-41.5% 20%
Montenegro 9% 15% 17%
Netherlands 20-25.5% 0-52% 19%
New Zealand 33% 0-39% 12.5%gst
Norway 28% 28-51.3% 25%
Pakistan 35% 0-25% 15%
Philippines 35% 5-32% 12%
Poland 19% 19-40% 22%
Portugal 25% 0-42% 20%
Romania 16% 16% 19%
Russia 24% 13% 18%
Saudi Arabia 20% 20% --
Serbia 10% 10-20% 18%
Singapore 18% 3.5%-20% 7% (gst)
Slovakia 19% 19% 19%
Slovenia 22% 16%-41% 20%
South Africa 29% 24-43% 14%
Spain 30% 24-43% 16%
Sweden 28% 0-56% 25%
Taiwan 25% 6-40% 5%
Thailand 30% 5-37% 7%
Turkey 20% 15-35% 18%
U.K. 30% 0-40% 17.5%
Ukraine 25% 15% 20%
U.S.A. 15-35% 15-35% -
Vietnam 28% 0-40% 10%
Zambia 35% 0-35% 17.5%
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Old 09-29-2008, 08:25 AM   #32  
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Quote:
Originally Posted by MEMA300 View Post
Let the president grow some testicles and veto a bill. Some presidents have the testicles to threaten to shut the government down with the threat of a veto bill. WOXOFF do not give me some civics lesson.
I don't give 'pilots' credit for being any smarter than the average dumbed down American Joe. Citizenship implies and requires that the voter/taxpayer get involved and be knowledgeable.

Here is some REQUIRED READING for citizenship:

DoomWatch - Former Fannie Mae Executives Charged | Housing Doom

YouTube - Burning Down The House: What Caused Our Economic Crisis?

Washington Mutual Gives $615,000 Mortgage To Immigrant Making $9 An Hour Who Can't Read Or Write English : Diggers Realm

YouTube - Timeline shows Bush, McCain warning Dems of financial mess

GrassFire.org - Real Impact Online.

Michelle Malkin :: Townhall.com :: Illegal Immigration and the Mortgage Mess

Recordor et Credo

Fannie Mae Eases Credit To Aid Mortgage Lending - New York Times

American Thinker: Obama, Oprah, and the Guru: Malignant Narcissism

American Thinker Blog: 'Burning Down The House'

Soviet-style collapse in America's future?

Cliff Kincaid -- Socialism Is Coming to America

American Thinker: Clowns in the Cockpit

Credit default swaps: The Real Reason for the Global Financial Crisis...the Story No One's Talking About.

The Credit Crisis and the Real Story Behind the Collapse of AIG

How Complex Securities, Wall Street Protectionism and Myopic Regulation Caused a Near-Meltdown of the U.S. Banking System

Guess who recommended Obama to enter Harvard
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Old 09-29-2008, 08:35 AM   #33  
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I hate to be the "party pooper" here but this thread has turned into a political mess. Please don't post your views about politics on here. There are many websites out there that would welcome your political views but this is not one of them. APC realizes that everyone has an opinion towards politics and not everyone one agrees with one another's opinions. Here is a copy of the applicable "terms of service" in which everyone agreed to when they joined APC.

Topics Not for Discussion

There are currently NO forums that provide a venue for discussing politics or religion. While DreamLaunch Media Ltd. and Airline Pilot Central embrace the diversity the world has to offer, these subjects often are very emotional and there are many different views. In our experience the wide range of views and emotions rarely contribute to a harmonious online community or beneficial contributions to the piloting profession.
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Old 09-29-2008, 09:00 AM   #34  
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Quote:
Originally Posted by cma2407 View Post
And here's how they paid for it. Be careful what you wish for...


Tax Rates Around the World
Sweden 28% 0-56% 25%
U.S.A. 15-35% 15-35% -
CMA - I totally agree with you and am not a supporter of the semi-socialized welfare system of Sweden. However I think their bailout program was brilliant and worked very well. The tax rates you just quoted were even higher when the crisis hit them - in other words since then their tax rates have been reduced! At one point the max rate was in the 80% ratio! (for very high income earners)
I do not support that, I'm just saying that the bailout worked so well they were able to recuperate all the money 'invested' into the bailout, make some profits on top of it AND lower their taxes.
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Old 09-29-2008, 10:15 AM   #35  
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Quote:
Originally Posted by ⌐ AV8OR WANNABE View Post
CMA - I totally agree with you and am not a supporter of the semi-socialized welfare system of Sweden. However I think their bailout program was brilliant and worked very well. The tax rates you just quoted were even higher when the crisis hit them - in other words since then their tax rates have been reduced! At one point the max rate was in the 80% ratio! (for very high income earners)
I do not support that, I'm just saying that the bailout worked so well they were able to recuperate all the money 'invested' into the bailout, make some profits on top of it AND lower their taxes.

Or maybe they finally figured out Marx didn't get it right, and that sheep shorn too closely head for greener pastures.
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Old 09-29-2008, 07:50 PM   #36  
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I am absolutely amazed that you peeps have taken a funny little excerpt I posted and turned it into (another) stupid APC rant.

Wait...I take that back...I am not amazed.

Carry on.

Beertini
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Old 09-30-2008, 03:58 PM   #37  
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Only 4 pages to go from a silly excerpt that made me laugh my a$$ off to debating the merits of the semi-socialized Swedish tax system and Marxism. Damm, I had the over at 5 pages.

We are a sad, sad, lot.
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Old 09-30-2008, 04:06 PM   #38  
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Quote:
Originally Posted by jungle View Post
sheep shorn too closely head for greener pastures.
Speaking of shorn regions...I believe Dr. Evil had the right idea...works for me, anyway.

Quote:
Dr. Evil: Very well. Where do I begin? My father was a relentlessly self-improving boulangerie owner from Belgium with low-grade narcolepsy and a penchant for buggery. My mother was a 15-year old French prostitute named Chloe with webbed feet. My father would womanize, he would drink. He would make outrageous claims like he invented the question mark. Sometimes he would accuse chestnuts of being lazy. The sort of general malaise that only the genius possess and the insane lament. My childhood was typical. Summers in Rangoon, luge lessons. In the spring we'd make meat helmets. When I was insolent, I was placed in a burlap bag and beaten with reeds. Pretty standard, really. At the age of 12, I received my first scribe. At the age of 14, an Zoroastrian named Vilma ritualistically shaved my testicles. There's nothing like a shorn scrotum, it's breathtaking. I suggest you try it.
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