I think it would have been better to sell every State-stuff run and reduce politicians/other State-employees at a minimum number.

I call my idea ‘mass privatisation’ for Countries with financial trouble. ( you may agree or not ;) I do know it might sound as ‘hey, wanna turn Iceland into a sort of USA ?’ wrong, it’s even a more drastic change, imo, lol )

SMYRILINE WILL HAVE TO BROKE THEIR ONLY-MERCHANCY TRANSPORTATION FOR WINTER PERIOD , TO MAKE SPACE FOR THE THOUSANDS OF CARS AND PEOPLE THAT ARE EXPECTED TO ABANDON THE COUNTRY SOON.

THE MAIN TRANSPORTATION COMPANY “EIMSKIP”, IS RECEIVING HUNDREDS OF APPLICATIONS EVERYDAY FROM PEOPLE WHO NEED TO MOVE THEIR FURNITURE, CARS AND OTHER THINGS TO OTHER COUNTRIES. HUNDREDS OF HOUSES HAVE BEEN JUST LET, ABANDONED WITH EVERYTHING INSIDE AS FAMILIES CANNOT PAY THE LOANS, NOR PAY FOR TAKING THINGS WITH THEM. THOSE WHO ARE LUCKY HAVE THE MONEY FOR PLAYING THE FLIGHT FOR THE WHOLE FAMILY. ONE WAY TICKET, TO CANADA, NORWAY AND OTHER COUNTRIES.

PREFERRED DESTINATIONS: CANADA AND NORWAY.

IT SEEMS THAT ANOTHER GIMLI WILL NEED TO BE BUILD IN CANADA. THIS NEW TAX SYSTEM IS JUST HELPING PEOPLE TO SEE IT REALLY CLEAR.

SCAPE WHILE YOU CAN!!

I thank you for you analysis there Øystein. By all means be skeptical but I am calling my own politicians exactly what they ideas they bring forward deserve them to be called. Idiots

— really does this tax ” ideas ” not indicate they are person of subnormal intelligence ?

>The treasury expects an extra ISK 50 billion [ USD 410 millions ] in taxes next year as a result.

Truly what fantastical Excel spread sheet .. no back of table napkin.. did you come to this conclusion from Steingrimur?

I think that Jim did say what I just said except he was being more polite this time using the term ” original work apprently not subject to EXTERNAL peer reviews ” of the models used.

I have two points that missed I think by all analyst so far.

A.. That this pension money is being invested mainly off shore ie outside Iceland and there is huge monies going out of the country every week when people is paid they money.

I am not saying that is wrong that they are diversifying they assets — this is what did save our pension values. But I hate seeing all this bleating from Icelandic Confederation of Labor (ASÍ) about how more taxes and EU is needed blah blah.

How about bringing a small %ag of that money home here and then earning interest on it ?? This would help the chronic defecit — the interest from that money sitting in local banks.

B.. That not mentioned there is the 1% of wages union member fee tax we MUST pay just for privilege of working.

Yes we are forced to be members of a union and pay them ” member ship fees “. We have no choice.

That is 1% going into coffers of union to buy those nice summer houses and pay the nice expenses of charming guy like Gylfi Arnbjörnsson.

If you want to see economic growth then unions stop this stealing from us members and LOWER the membership fee we are FORCED to pay.

I am not against unions, I am against being FORCED to be a member of union to work and pay them 1% of my wages each and every week… That is huge money.

Translation:

The government plans to boost sources of tax substantially in the near future, with a host of new taxpayers joining the ranks of those who are already taxed to the maximum.

For the first time, elves and hidden people will pay income and capital gains tax, ghosts and other deceased persons will be made to pay a complex doomsday tax -– and the dwarfs, whose operations have hitherto been exempt from VAT, must now also pay up. It is not clear whether trolls will be taxed in this particular round, as tax collecting is fairly risky in their case.

Migrating birds will be made to pay a special ” sojourn and nesting tax “, and land wight spirits will have to deliver energy and resource fees on behalf of the land itself.

Very good point.

Red-Green idiots cant make more of this ” Nordic Welfare State ” they want so badly to give us taxpayer with so called free at point of use, unless there is growth of economy.

First – the use of word “idiots” make me sceptical to your arguments, second the percent of taxes does not tell much – if you want to tell how much an Icelander is taxed on income, then we need to get the samples calculated.

ISK 650.000 a month is mentioned. As this is a relative normal income here, I did some calculations on comparable income here:

Income month/year NKR 30.000/360.000) converted (ISK 660.000/7.920.000) (Euro 3.600/43.200). I have use 1NKR as 22ISK

Yearly taxes:

- State – ca NKR 33.000 (ca 11,8% of calculated from net income – 280′)

- Community – ca NKR 36.000 (ca 12,8% of calculated from net income – 280′)

Pension (not traditional taxes, as these are ment to be paid out later (just like a private pension)

- Pension/welfare insurance – ca NKR 28.000 (ca 7,8% of calculated total income – 360′)

Out of total income the taxes/pension insurance will be

- Taxes NKR 69.000 (19,2%)
- Pension/insurance NKR 28.000 – 7,8%

In sum this will be (I give it with a teaspoon)

- Total income NKR 360.000 – ISK 7.920.000
- Taxes/pensions NKR 97.000 – ISK 2.134.000
- Money paid out to the employer – 263.000 – ISK 5.786.000 (montley ISK 480.200).

The taxes can be read in Icelandic (or english) here

http://www.nordisketax.net/main.asp?url=files/nor/isl/i07.asp&c=nor&l=isl&m=02