Negative (Below $0) Oil Prices Are Here

[Gallus 1,525]

36 minutes ago, Sudarshana said:

don't, we're in a terrible crisis and it's getting worse 

just two years ago euro to ruble rate was below 40, now it's 85.79 

 

Ohh. EU is ****... crisis is also soo big. And prices are soo high. Living in EU is very expensive. And Russian Vodka is very expensive too. (Just..Pushkin black vodka is cheap). 

[Sudarshana 581]

4 minutes ago, Gallus said:

Ohh. EU is ****... crisis is also soo big. And prices are soo high. Living in EU is very expensive. And Russian Vodka is very expensive too. (Just..Pushkin black vodka is cheap). 

I don't think that cheap vodka is a good thing 

[Alcina Dimitrescu 1,157]

2 hours ago, Economy said:

And i dont think im "ignorant". I have my reasons for not favouring left winged politics. Usually Governments fail at it. Only a handful of Countries have been competent enough to micromanage well

its less "failure" and more "we didnt actually want to do this **** lol yay we're in charge now" but yeah

[Economy 53,131]

2 hours ago, Sudarshana said:

If I earned that much (LOL), I would get 3760€ 

(Russia)

Taxes in Russia are low?

[Economy 53,131]

27 minutes ago, SecretWeapon said:

its less "failure" and more "we didnt actually want to do this **** lol yay we're in charge now" but yeah

Then how were they elected? Did they somehow cheat on election results?

[Sudarshana 581]

Just now, Economy said:

Taxes in Russia are low?

yes, the commonest tax on income is 13%.

I work as so called "individual entrepreneur" (don't know if such thing exists in canada) and for me it's 6%.

[Economy 53,131]

2 hours ago, Sudarshana said:

yes, the commonest tax on income is 13%.

I work as so called "individual entrepreneur" (don't know if such thing exists in canada) and for me it's 6%.

What about sub-soverin taxes?

 

Our income bracket for normal income is only 15%. When you take into account the first few thousands are taxed less, most peoples over-all taxes end up being even lower

 

But provinces add their own income tax. So the middle income tax bracket in an average Province ends up being around 25%

 

Oh and individual intre-preneur might be what we call "self-employment".

 

Do you have a small business where you work for yourself? If so thats what we call "self employment"

[Sudarshana 581]

44 minutes ago, Economy said:

What about sub-soverin taxes?

 

Our income bracket for normal income is only 15%. When you take into account the first few thousands are taxed less, most peoples over-all taxes end up being even lower

 

But provinces add their own income tax. So the middle income tax bracket in an average Province ends up being around 25%

No, our sub-soverins don't have their own income taxes. Russia is a very centralized state, sub-soverins mostly get money from the federal budget.

“All regional and local taxes in Russia are asset-related: property tax, vehicle tax, land tax and tax on gambling businesses.”

[Sudarshana 581]

1 hour ago, Economy said:

Oh and individual intre-preneur might be what we call "self-employment".

 

Do you have a small business where you work for yourself? If so thats what we call "self employment"

yeah, that's it!

[Alcina Dimitrescu 1,157]

3 hours ago, Economy said:

Then how were they elected? Did they somehow cheat on election results?

they promise X but they dont actually do it. That was my point earlier.

[Economy 53,131]

2 hours ago, Sudarshana said:

No, our sub-soverins don't have their own income taxes. Russia is a very centralized state, sub-soverins mostly get money from the federal budget.

“All regional and local taxes in Russia are asset-related: property tax, vehicle tax, land tax and tax on gambling businesses.”

Oh ok

 

Here in Canada our Provinces have a lot of power in decision making. The set many business rules, health rules and education standards

 

They can even screw over Federal Government. For example a big oil pipeline that the Federal Government approved didnt get built because the Province of British Columbia didnt want it and didnt hand out construction permits. There was nothing the Federal Government could do.

 

Provinces also make up about 40% of over-all taxes/spending

 

That could be 1 of the reasons economic conditions vary so much from 1 part of Canada to another

 

Also more than half of Canadas debt is Provincial. Canadas Federal debt is at 31% of GDP but when Provinces are added in, total Government debt baloons to 70% of GDP

 

 

[Sudarshana 581]

5 minutes ago, Economy said:

Oh ok

 

Here in Canada our Provinces have a lot of power in decision making. The set many business rules, health rules and education standards

 

They can even screw over Federal Government. For example a big oil pipeline that the Federal Government approved didnt get built because the Province of British Columbia didnt want it and didnt hand out construction permits. There was nothing the Federal Government could do.

 

Provinces also make up about 40% of over-all taxes/spending

 

That could be 1 of the reasons economic conditions vary so much from 1 part of Canada to another

 

Also more than half of Canadas debt is Provincial. Canadas Federal debt is at 31% of GDP but when Provinces are added in, total Government debt baloons to 70% of GDP

 

 

Looks like a healthy economy. Ours is just selling crude oil and gas  

[Economy 53,131]

3 minutes ago, Sudarshana said:

Looks like a healthy economy. Ours is just selling crude oil and gas  

Thats our biggest export too 

 

I had to cancel my trip plans to NYC because low oil prices have caused our currency to plummet  

 

Were not as dependant on it as Russia of course. In fact the Province I live in is manufacturing based not resource based so lower energy and comodity prices are actually good for us

 

And because were considered a safe Country to lend to, but low oil prices diverted investment away from companies into bonds, we now have super low rates. Our Governments interest rates on debt is less than 1%. And since inflation is at close to 2%, our Government is basically getting payed to borrow lol

 

But I cant at the fact that most of our food comes from the US and the low Canadian Dollar is making food so expensive   Most of the 2% inflation comes from food which has gone up more than anything else 

[Teal Ambition 47,805]

2 minutes ago, Economy said:

Thats our biggest export too 

 

I had to cancel my trip plans to NYC because low oil prices have caused our currency to plummet  

 

Were not as dependant on it as Russia of course. In fact the Province I live in is manufacturing based not resource based so lower energy and comodity prices are actually good for us

 

And because were considered a safe Country to lend to, but low oil prices diverted investment away from companies into bonds, we now have super low rates. Our Governments interest rates on debt is less than 1%. And since inflation is at close to 2%, our Government is basically getting payed to borrow lol

 

But I cant at the fact that most of our food comes from the US and the low Canadian Dollar is making food so expensive   Most of the 2% inflation comes from food which has gone up more than anything else 

Our dollar is terrible right now! We were planning to go to the States as well, but not anymore. 

[Sudarshana 581]

5 minutes ago, Economy said:

But I cant at the fact that most of our food comes from the US and the low Canadian Dollar is making food so expensive   Most of the 2% inflation comes from food which has gone up more than anything else 

At least your government didn't ban food from the US  Ours banned fruits, vegetables, meat, cheese, etc. from the EU, the US and Turkey. Besides, tons of money went to help annexed Crimea (which is a very poor region), the government even took our pension savings to spend on it. So besides dealing with low oil prices, we have to deal with our insane government...

I don't even dream of going abroad for a vacation