FELIPE ARGOTE: THE BLOG: THE NEW TAX REFORM

domingo, 13 de diciembre de 2009

THE NEW TAX REFORM

By: Felipe Argote

Among the economic trends are a number of trends and opinions as the on the same legal concept. Among economists there are so many different currents that is a myth to say that we can group them without anyone bothering to be in a segment with someone who does not approach its design. By contrast there are matrices or better as Tim Berners-Lee would say a web of ideas that intersect in some respects. The go as asymptotes and then away again in other elements of analysis. What can never be doubted, even among the historicist, much less between the marginalists, who adhere to a more algebraic approach to the economy, is equality between the two sides of an equation. The properties of equality states that if each side of an equation is added or subtracted an equal number, equality holds. Contrarius Censu, if a part of equality is added a number and the other remains the same, it destroys the equality of the equation. This may be not be economics but algebra, but serves to explain that if we have a balanced budget but we hope to increase revenues by 200 million dollars, to keep the budget balanced is impossible to reduce the sources of revenue without a replacement income decline plus the 200 million dollars.

While we can not say that tax reforms that will come to be discussed in January next year is not the best kept secret, cannot be said categorically that anyone knows the entire document. Least one could argue that their guidelines will be the end of the fiscal reform, given the pounding of the chief executive may, as it did with the Credentials Committee appointed by him to evaluate candidates for Judges of the Supreme Court, claim that does not like any of the measures proposed by the consulting firm McKinsey & Co. With the difference that the consulting firm based in Washington that says is proud to serve the 70% of the companies listed in Fortune magazine will charge $2.5 million for their advice, unlike the commission of credentials that is ad honorem.

Some, however, those who have had access to the proposal, all close to the government, speak beauties of the document. Let's see. The former president of the Chamber of Commerce José Rivera rescues from the document a key element: Try that taxpayers, both individuals and businesses, see their tax rate reduced. Okay. If both natural and legal person will see their taxes reduced, and also will be recovered at least 100 million more as said the Minister of economy Vallarino, or 200 million as discussed among the most optimistic (or should I say pessimistic). To this is added that according to vice Economics Minister Frank de Lima, employees earning less than B/3,000 per month will pay 80 million less and who earns more than that number and pay 27% will be now lowered to 22% as the corporate rate. We may well be talking about another 200 million. It is highly unlikely that any difference is paid by the rise of banking. Impossible. If the banks now pays about B/47 million and is said to increase its contribution by 50% that is less than B/25 million more. Then it comes the declarations of the president of the republic Ricardo Martinelli who denies any possibility of raising the consumption tax or ITBMS, liquor and beer. Good news for the vice president.

Previously in the 2009 budget presentation gave some contradictory trends in our opinion on the variables that underlie it. For example it suggests that in 2010 that unemployment will fall by 1.5% while growth will be 3.5% in GDP. If in 2008 compared to the year immediately preceding the unemployment rate fell by just over one percentage point under pressure from economic growth above eight percent, how it intends to reduce the level of unemployment at 1.5% in 2010 to expected growth of only 3.5% being optimistic. Moreover, this is estimated to be accompanied by a reduction of more than 5 percentage points in the inflation rate. If this is possible then we have to establish three hypotheses

1. We must review the properties of the equation, including Baldor's algebra.

2. There are other non-recurring revenues that the government has saved with great zeal.

3. There will be a tax increase, most likely with an emphasis on consumption taxes to be paid by all Panamanians.

If the third hypothesis is fulfilled and I would like to be wrong, what we save in a pocket we're going to pay it with the other and a little more. How much more? Well, how about 200 millions ?

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THE GODS MUST BE CRAZY

Born in the Kalahari , N! xau ( the exclamation point is a crack) is famous for being the main actor of the movie "The Gods Must Be Crazy ." In the movie a Bushman Tribe receives a gift from heaven, a Coke bottle thrown from the window of an airplane. The gift from the gods to be a source of joy becomes a source of fight until N! xau decided to leave it at what is going on foot to dump it at the end of the world. This is the beginning of an adventure that pits the simple Bushmanlife with the most elemental technology and the stupid rules imposed by civilization. Is said that when he was paid for his performance N! xau released the bills to the wind because they he had no value for him.

MALINCHE BY LAURA ESQUIVEL

Malinche was a daughter of Noble in Nahua, Mexican also be called Aztec becuse they came from a place called Aztlan, and who settled in the valley of Mexico on XV century before expanding to what today is Central. La Malinche, or Doña Marina as she was baptized by spanish collaborated with Hernan Cortes and was one of his concubines. She helped to him to take aztec empire ans was used as translator. After Cortes took the empire he give her to one of his officials. It has been said that she was murdered in her own home.

AN THE MAYOR ? TALKING STUPID THINGS

Throughout the city there are somethings called monuments that have become garbage dumps, or simple mosquito breeding ruins. In Balboa, a monument that are misshapen figures balanced on a log to a dwarf who raises his fingers in sign of peace. The same day ended the Arnulfists government finished the budget for maintenance, the lights and the fountain disappeared and only the grotesque figures left. At Tumba Muerto avenue a group of ladies raised a Roman column holding an event and left it to their fate. Although years ago a red devil bus hit the base of the pilaster, the supposed monument and its significance remain unknown giving the city and ugly picture until it meets the result, it falls over a car or a pedestrian and kill someone.

THE PLOT

FOUR TEENAGERS WERE SWIMMING AT A RIVER WHEN THEY SAW THE ALLIEN BEING IN THE JUNGLE. BECAUSE HE WAS DIFFERENT THEY DECIDE TO BEAT HIM TO DEATH, AS THEY HAVE LEARNED BY HOLLYWOOD FILM AND TELEVISION PROGRAMS. THE FIRST AND SECOND PHOTO SHOW HOW HIS BODY REMAINED AFTER DEATH. THE THIRD SHOWS HOW HE LOOKS LIKE WHEN HE WAS ALIVE, THE FOURTH IS HIS I.D. PICTURE AND YOU CAN SEE AT THE FIFTH ONE OF THE THOUSANDS SHIPS THAT COMO TO AVENT HIS BUDY. WOULD YOU PLESE KILLERS TURN TO THE ALIENS TO AVOID AN INTERGALICTICAL WAR. IT IS NOT A GOOD MOMENT TO WAR WHEN WE THE WORLD ARE IN THE MIDDLE OF A FINANCIAL CRISIS.

MANATEE AT THE PANAMA CANAL

Few know, some of us did not know until recently that there are manatees at the Gatun Lake. These specimens are not originated from this artificial lake, were implanted in 1964 to control the growth of vegetation in the Panama canal. These animals are herbivors and can eat between 100 to 200 pounds of aquatic plants per day. They were part of a project of the former Canal Commission. One was brought from Peru and ten were brough from Bocas del Toro, but escaped during a storm and are now known to exist in the remotest places of Gatun Lake. They are very shy of human presence and can last up to twenty minutes underwater.

WILL THE MOON REACT TO ASSAULT?

In order to confirm the theory of the existence of water in a specific location of the moon, NASA scientists sent an unmanned vehicle to bombard a specific area of the small mass of land that runs our planet. According to the disclosures the maneuver was successful because it felt a splash in the bombed area. However, there are reports that the lunatics (inhabitants of the moon) have considered this an attack. Tempers have been heated in recent weeks, the product of murdering by teenage radicals in Cerro Azul, Panama

On Thursday, May 20, was held in the conference room of the master program of the American University of Panama an interesting exposition by the Engineer Jorge Quijano, Executive Vice President Engineering and Program Management of the Panama Canal Authority. The speaker presented the progress of the canal expansion at students and professors at the master's program. The conference was organized and presented by Professor Gustavo Salom who directs the graduate program of this prestigious university.

WHY COULD NOT U.S. CONFRONT MILITARILY THE ARAB EMBARGO IN 1973?

One of the reasons that Richard Nixon could not respond militarily to the oil embargo imposed by Arab countries in the seventies was the public opinion of the American people after seeing this photograph taken by Nic Ut an Associated Press photographer outside the population of Trang Bang in North Vietnam on 8 June 1972. In the photo Kim Phuc, a 9 years old vietnamese child run desesperately out of her town been bombed by napalm. It was not possible for U. S. to enter another war at the time. United States under President Richard Nixon signed the peacce agreement with North Vietnam in January 1973, six months after this photo and a few months before the oil embargo. Neem is now married and has a son. Richard Nixon resigned from his post as president on 8 August 1974.

NEW TAXES IN JANUARY

In January the middle class will receive another blow to his pocket. But contrary to what some believe, it is not the package of new tax reforms which fall to be discussed in January. This is the package already approved by the Assembly of Deputies in September 2009.
Starting January there will be charges of ITBMS of the following banking services:
1. RENEWAL OF CREDIT CARDS
2. FEES FOR HOUSING LOANS
3. FIVE-YEAR REVIEW COMMITTEE FOR MORTGAGE LOAN
4. RENTAL SAFE DEPOSIT BOX
5. CERTIFIED CHECKS
6. MANAGEMENT CHECKS
7. LETTERS OF CREDIT
8. COLLECTIONS
9. LOAN DISBURSEMENT
10. ATM WITHDRAWAL DIFFERENT TO SELF BANK ACCOUNT

The Maldives, a tropical paradise of thousands of islands located southwest of Sri Lanka in the Indian Ocean is one of the top three places in the world for diving. There are more than a thousand atolls of which only two hundred are inhabited. Those who have visited it say it is a natural aquarium. However, the product of CO2 emissions will do this paradise completely disappear over the next 100 years. Although some islands such as Kandholhudhoo Island, 60% of people will evacuate in the next 15 years. Sea level is growing at almost a centimeter per year. 80% of the islands do not have a meter above sea level. It is one of the flattest places in the world. In the 2004 tsunami, the islands suffered the flooding of a large wave that caused the tsunami. They beg the world for reducing CO2 emissions. Especially the United States. Its President Maumoon Abdul Gayoom, sent a year and half ago a letter pleading with former President Bush to sign the Kyoto protocol. Never received a response

PANAMÁ: WORLD BIODIVERSITY CENTER

The Isthmus of Panamá is the biggest botanical biodiversity on the planet. The density of plant life in Panamá is greater than in Colombia, Brazil and China combined. After many years of construction is expected in 2010 will open on biodiversity museum created by one of the world's best architects: Frank Gehry. This is the creator of the famous Guggenheim Museum in Bilbao as one of the 50 most important twentieth century buildings, the Vitra Design Museum in Weil-am-Rhein, Germany, the Weisman Art Museum in Minneapolis, Minn., the Experience Music Project in Seattle, Washington and the Walt Disney Concert Hall in Los Angeles, California among others.

ONE MONTH

One month after the first publication of my blog, thanks a lot to all of you who have written your point of view or have sent it to my personal email.

According to the counter AdSense, this month we have a total of 785 prints which is much more than we expected at the begining. This has committed us to continue to develop short-term analysis on the most important national issues.

Again I thank all the readers of my blog, with the assurance that there is a commitment to regularly update.

Sincerely,

Felipe Argote

Daja Editions

SEPTEMBER 13TH 2009