Tag Archives: expenditure

Tax to the Max: Countries with the Highest Tax

Tax is a word that many people see as a burden, especially the working class. It is everywhere. Every move you make is taxed. You do your grocery shopping and there is tax. Eat out at a restaurant and there is tax. Your monthly wage for your desk work is taxed. Starting a business is taxed. If you try hiking on a mountain, there is environmental tax. Even staying at home, you are taxed because your house is mortgaged. Anything you do is taxed.
However, although it burdens most of us, some people have it better, or worse, depending on your perspective.
Highest Taxed Countries
1) Belgium
Keep calm and drink tea while you do your taxes. Western Europe has taken the top spot of the highest tax in the world with Belgium imposing a record 54.9% average. As per research of economists, Belgium has recently been experiencing a higher rate of employment. It’s economy is not doing so well too that’s why its government is compensating by increasing its taxes.
2) Finland
Opposite of what’s happening in Belgium, Finland’s unemployment rate is low as its economy is growing. Coupled with its high tax rate of 46.6%, Finland is slowly gaining its place in the world’s best economies.
3) Germany
Not far behind is Germany’s 45% average tax rate. Similar to Finland, Germany is going strong despite its high taxes. With its high taxes, Germany is able to provide high social security.
4) Denmark
Denmark also prospers at a marginal tax rate of 44.4%.
Taxation across the globe differ depending on the countries process of prospering growth. It is profoundly expensive to run a country thus the burden falls to the working class. With all the other factors that still need to be considered such as war, politics, resources, education, military, healthcare, etc., it is no wonder some nations need to tax more while others can afford to tax less. Taxes are essential to keep a country afloat.

Race to the Top: the Best Country in Terms of GDP

The GDP or the Gross Domestic Product is one of the most anticipated market data release in the world. The data in itself holds one of the heaviest weights in determining the future of a country and how it has done so far. A good GDP means a happy and stable economy which attracts more people to go in their country and invest. Meanwhile a bas GDP spells disaster as not only does it repel potential investors, it also gives the country a bad image. The GDP is like a report card at the end of the school year, with market participants waiting expectantly about the performance of the countries.
It is important for traders to keep an eye on the top of the class as they pave the way into the success of tomorrow. Meanwhile, traders are also advised to keep watch of the slow growers as they may offer unlimited potential for growth if you grab on to the right opportunity.
The World Bank and the International Monetary Fund are the guardians of records that show the comprehensive sources of statistics that gathers data such as life expectancy, inflation, unemployment report, and literacy.
Without further ado, here are the world’s fastest countries in terms of GDP growth/ the world’s slowest countries in terms of GDP Growth.
The Fastest GDP Growth
Since 1980, the International Monetary Fund has been tracing the path of countries around the world based on their GDP. It was done as part of the IMF’s World Economic Outlook database project. Obtaining sufficient information to accurately assess a country’s condition. However, the IMF has accumulated over thirty years worth of information that could at least shed some light on the world’s best growers.
As per data of IMF, the following are the countries which were able to advance the biggest.
Equatorial Guinea: 150% (1997)
Equatorial Guinea: 67% (1996)
Equatorial Guinea: 63% (2001)
Sudan: 62% (1997)
Kuwait: 51% (1992)
Evidently, Equatorial Guinea had the best performance, placing the top three slots in country that has grown in terms of GDP. According to the IMF, Equatorial Guinea was able to achieve this feat through traditional economic growth. This means that the country has exploited its natural resources, promoted privatization, and dramatically increased labor production. Equatorial Guinea was lucky to have utilized their natural gas and oil fields and had good governance. Sudan and Kuwait came second and third respectively but not because of traditional economic growth. The two then-war-inflicted country was able to bounce back because of one thing: oil.
Despite coming from a 22-year civil war, Sudan reached peace when the government and the rebel factions agreed to a ceasefire. Meanwhile, Kuwait was then recovering from an invasion from Iraq.
According to the IMF, the world GDP growth will average at 4.3% by the year 2013-2017.

Five Worst Things to Spend Your Money On

There are many things you can do with your hard-earned money. The best way to use them is to invest and save up so that you can go buy your dream house or travel the world in your later years. But there are not-so-good ways to spend your money in exchange for temporary pleasure and sometimes even worse, a life in debt.
1) Alcohol
Now, alcohol may or may not be considered as a waste of money as a lot of people drink to celebrate or lament. It is a natural human design to purge your feelings and alcohol is one of the best ways to do it. However, drinking alcohol not only increases your chances of recklessness (which may lead to drunk driving, disturbance of the peace, etc.) that will have your sober self paying for a ticket or worse, bail, alcohol also damages the decision making part of the brain that may lead to costly purchases.
2) Lottery
Did you know? Your chances of getting struck by lightning, being consumed by a flesh-eating bacteria, and dying via asteroid apocalypse is bigger than winning the lottery. So why waste your money on winning a lottery. You should buy an insurance.
3) Infomercial Products
Did you ever just flipped channels on your television and come across a channel with these men and women acting exaggeratedly, cooking haphazardly, looking in the mirror and hating an aspect of their self, or doing household chores all wrong. These are infomercial channels that advertise products that you did not need in the first place. So don’t reach for that phone and just continue flipping channels.
4) Unused Memberships
There are times when you will think that you might as well be a member of this particular organization or institution because shop or go there practically everyday. Case in point, a gym membership. It’s a new year, you’re pumped up and ready to reach that beach body by summer but you think to yourself, it’s the first day of January, the gym’s going to be full. So you postpone and postpone until you’ve lost all will to even get up from your couch. Memberships have a big potential of going to waste if you’re not going to commit. That’s why if you are going to be a member of an organization or institution that will need payment, make sure you maximize your money’s worth.
5) A Star
It’s seems like a great idea to buy a star that the earth has no claim to and name it after your soon-to-be-wife or children but in the long run, it’s a waste of money because you’re just really buying an overpriced name in the night sky that you are not sure would be seen anyway. It might be a dead star too.