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Crazy Wealth in the Middle East!

This is a discussion on Crazy Wealth in the Middle East! within the The Pit - General Discussion forums, part of the Website Forums category; Originally Posted by Roberto Raj, I think it is much like most Western countries. Why are people always so critical ...

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Old 12-23-2005, 11:18 AM   #11
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Re: Crazy Wealth in the Middle East!

Quote:
Originally Posted by Roberto
Raj, I think it is much like most Western countries. Why are people always so critical of the gap between the rich and poor in Asia and the Middle East, the gap between rich and poor in the US and Europe is vast also. As far as UAE goes, I think you will find that most people are not multi-billionaire oil sheiks, most people are ordinary hard working middle-class or working-class citizens (sorry about using such politically incorrect terms). It is different when there is corruption involved, like in some African countries, but the UAE is a civilized place.
Although the income distribution is high in western countries the Purchasing Power Parity is also far higher - ie - although there are very rich people in the West, the poorer people also have a good standard of living. This is relative poverty as opposed to absolute poverty.
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Old 12-23-2005, 01:07 PM   #12
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Re: Crazy Wealth in the Middle East!

Here in Sweden there aren't that huge gaps between people since the ones that earn alot of money gets their income raped by our inhuman taxes. This is how the taxes works:

We pay 31% tax if we earn up to 291k
If you earn between 29-44k you pay 51% tax
Earn over 44k and you will be paying 56% tax

May I also add that we pay 25% on consumer gods. So if you earn more than 44k you will be paying 81%(including sallery and consumer gods).
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Old 12-23-2005, 01:12 PM   #13
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Re: Crazy Wealth in the Middle East!

Quote:
Originally Posted by Luwalira
Here in Sweden there aren't that huge gaps between people since the ones that earn alot of money gets their income raped by our inhuman taxes. This is how the taxes works:

We pay 31% tax if we earn up to 291k
If you earn between 29-44k you pay 51% tax
Earn over 44k and you will be paying 56% tax

May I also add that we pay 25% on consumer gods. So if you earn more than 44k you will be paying 81%(including sallery and consumer gods).
you mean 29k

BTW, that is inhuman taxes!!!!
I don't know exactly what i pay here in Greece, but when it comes to consumer gods tax, it is 19%
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Old 12-23-2005, 01:38 PM   #14
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Re: Crazy Wealth in the Middle East!

Quote:
Originally Posted by Raj
Although the income distribution is high in western countries the Purchasing Power Parity is also far higher - ie - although there are very rich people in the West, the poorer people also have a good standard of living. This is relative poverty as opposed to absolute poverty.
Okay Raj, you make a good point there but with regards to the UAE, I don't think absolute poverty is a big issue there either.
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Old 12-23-2005, 01:39 PM   #15
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Re: Crazy Wealth in the Middle East!

Quote:
Originally Posted by Luwalira
Here in Sweden there aren't that huge gaps between people since the ones that earn alot of money gets their income raped by our inhuman taxes. This is how the taxes works:

We pay 31% tax if we earn up to 291k
If you earn between 29-44k you pay 51% tax
Earn over 44k and you will be paying 56% tax

May I also add that we pay 25% on consumer gods. So if you earn more than 44k you will be paying 81%(including sallery and consumer gods).
"Raped" is correct Luw - but still Sweden has the most Ferraris per capita in the world - did you know that?
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Old 12-23-2005, 01:45 PM   #16
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Re: Crazy Wealth in the Middle East!

Eventhough we have a high number of Ferraris per capita, exotix cars aren't that common since some people still have negative attitudes toward luxury products from the capitalistic waste. If you buy a Lamborghini you will likely get alot of haters who will start talking negative non-sense about sportscars.

Quote:
Originally Posted by Giannis
you mean 29k

BTW, that is inhuman taxes!!!!
I don't know exactly what i pay here in Greece, but when it comes to consumer gods tax, it is 19%
Yeah I made is mistake there . I should also add that if you have more than 500k in your bank account half of your sallery will automatically go to the state.
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Old 12-23-2005, 01:54 PM   #17
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Re: Crazy Wealth in the Middle East!

Quote:
Originally Posted by Luwalira
Eventhough we have a high number of Ferraris per capita, exotix cars aren't that common since some people still have negative attitudes toward luxury products from the capitalistic waste. If you buy a Lamborghini you will likely get alot of haters who will start talking negative non-sense about sportscars.



Yeah I made is mistake there . I should also add that if you have more than 500k in your bank account half of your sallery will automatically go to the state.
So what are the public services like there in Sweden - can you see much evidence of your tax Kronas at work?
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Old 12-23-2005, 02:04 PM   #18
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Re: Crazy Wealth in the Middle East!

The tax money is spent quite well here in Sweden and you can more or less come here with no education and no money at all and after tens years live more luxurious than people who have lived here for more than 30 years. The healthcare here is excellent and it is off course free, the eductional system is also very good and I like the fact that it's to clean here compared with other places around the world.
the high taxes are good for the country but bad for some individuals who really wants to make money.
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Old 12-24-2005, 06:32 AM   #19
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Re: Crazy Wealth in the Middle East!

Quote:
Originally Posted by Luwalira
I should also add that if you have more than 500k in your bank account half of your sallery will automatically go to the state.
???!!!!

Anexpectable! I could never think of it. It is great though, the fact that all that money is spent well there, not like here... Free healthcare and great education!!!
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