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View Full Version : Saudi Arabia faces 'economic bomb' and hikes gas prices 50%



Hans
01-05-2016, 08:10 PM
Here are some of the perks Saudis receive:
-Heavily subsidized gas (It used to be 16 cents a liter. Now it's gone up to 24 cents.)
-Free health care
-Free schooling
-Subsidized water and electricity
-No income tax
-Public pensions
-Nearly 90% of Saudis are employed by the government
-Often higher pay for government jobs than private sector ones
-Unemployment benefits (started in 2011 in reaction to the Arab Spring)
-A "development fund" that provides interest-free loans to help families buy homes and start businesses.

http://money.cnn.com/2016/01/05/news/economy/saudi-arabia-oil-budget-gas/index.html

I hope the Canadian economy bombs the exact same. I am looking forward to it!

KDawg
01-05-2016, 08:38 PM
Here are some of the perks Saudis receive:
-Heavily subsidized gas (It used to be 16 cents a liter. Now it's gone up to 24 cents.)
-Free health care
-Free schooling
-Subsidized water and electricity
-No income tax
-Public pensions
-Nearly 90% of Saudis are employed by the government
-Often higher pay for government jobs than private sector ones
-Unemployment benefits (started in 2011 in reaction to the Arab Spring)
-A "development fund" that provides interest-free loans to help families buy homes and start businesses.

http://money.cnn.com/2016/01/05/news/economy/saudi-arabia-oil-budget-gas/index.html

I hope the Canadian economy bombs the exact same. I am looking forward to it!

-Public pensions
-Often higher pay for government jobs than private sector ones
-Unemployment benefits
-A "development fund" that provides interest-free loans to help families buy homes and start businesses.

Those points about the Canadian economy are true, but why you would look forward to an economic collapse is just weird.

Hans
01-05-2016, 08:47 PM
Because than maybe we can get half of what they have, which is still way better than what we currently have.

IMHO
01-05-2016, 09:21 PM
Because than maybe we can get half of what they have, which is still way better than what we currently have.

Your lack of logic is astounding....where did you come from ??

Hans
01-05-2016, 09:23 PM
I would gladly live in a country with a bombed economy like that.

RWGR
01-06-2016, 11:30 AM
It's not sustainable, Hans. The party is a blast, but the hangover will be a bi***

The Chronic Liar
01-06-2016, 11:42 AM
Hans when you say free healthcare,free school, where is the money coming from. Doctors and teachers don't work for free. Hospitals are not built for free using free materials. You want all this free stuff without giving anything up for it.

Barry Morris
01-06-2016, 01:39 PM
It's not sustainable, Hans. The party is a blast, but the hangover will be a bi***

But it won't be anything like the hangover when the USA goes down!!!

RWGR
01-06-2016, 02:04 PM
But it won't be anything like the hangover when the USA goes down!!!

Why, thank you! We sneeze, the world catches cold...it's GOOD to be KING!!

Barry Morris
01-06-2016, 02:36 PM
Why, thank you! We sneeze, the world catches cold...it's GOOD to be KING!!

Good kings protect their people.

Bad kings go down eventually.

RWGR
01-06-2016, 03:24 PM
Good kings protect their people.

Bad kings go down eventually.

Then I look forward to decades and decades of protection! :) :) :)

Barry Morris
01-06-2016, 04:00 PM
Then I look forward to decades and decades of protection! :) :) :)

Of course. Too bad no one else can, from the "king of the world".

RWGR
01-06-2016, 05:10 PM
Of course. Too bad no one else can, from the "king of the world".

You and Europe have been hiding behind us for decades, so we must be doing something right!! :) :) :)

Barry Morris
01-06-2016, 06:22 PM
You and Europe have been hiding behind us for decades, so we must be doing something right!! :) :) :)

Sure.

Hans
01-06-2016, 08:07 PM
Hans when you say free healthcare,free school, where is the money coming from. Doctors and teachers don't work for free. Hospitals are not built for free using free materials. You want all this free stuff without giving anything up for it.

About half of my actual wages goes to the tax man. In return I expect at least free schooling, free healthcare and no taxes on energy resources.
Free healthcare could pay for itself, if implemented properly.

Anapeg
01-07-2016, 10:12 AM
About half of my actual wages goes to the tax man. In return, I expect at least free schooling, free health care and no taxes on energy resources.
Free healthcare could pay for itself if implemented properly.

Hans, perhaps changing words may help. Instead of the word 'free', insert the words tax supported. As in tax supported healthcare, tax-supported schooling and so on. Somewhere along the line everyone gets paid for services performed. Your use of the word free seems to forget that fact.

Hans
01-07-2016, 06:29 PM
How do you pay your taxes?

Barry Morris
01-07-2016, 08:20 PM
How do you pay your taxes?

Honestly.

IMHO
01-07-2016, 08:26 PM
How do you pay your taxes?

deducted at source...no choice.

Hans
01-07-2016, 08:41 PM
So in reality you do not really pay taxes, since the money is deducted prior to you receiving it.

The Chronic Liar
01-07-2016, 09:06 PM
So in reality you do not really pay taxes, since the money is deducted prior to you receiving it.

I think it's time that you stop referring to "reality"

The Chronic Liar
01-07-2016, 09:07 PM
If you deduct it before you receive it, it means you aren't actually paying. LOL

Anapeg
01-07-2016, 09:18 PM
If you deduct it before you receive it, it means you aren't actually paying. LOL

It would seem Hans is being deliberately foolish to make a point. Anything I work for that takes money out of my pocket is a cost. Regardless if it is a deduction out or paid out of pocket, it is an EXPENSE.

Hans
01-07-2016, 09:50 PM
You cannot take out of your pocket what you do not receive. If it would really be your money you could decide what to do with it, including keeping it and not paying your taxes.
However, you do not have a choice since you never receive the money in the first place.
So technically speaking, you are not actually paying taxes. You are simply being paid less than what you would get paid should taxes not be deducted.

IMHO
01-07-2016, 11:07 PM
ok...I do not pay taxes... I simply make a donation to my government who vows to take care of me for the rest of my life. This keeps me from moving to North Korea,

KDawg
01-08-2016, 01:21 AM
You cannot take out of your pocket what you do not receive. If it would really be your money you could decide what to do with it, including keeping it and not paying your taxes.
However, you do not have a choice since you never receive the money in the first place.
So technically speaking, you are not actually paying taxes. You are simply being paid less than what you would get paid should taxes not be deducted.
You are every government bureaucrat's and politician's wet dream come true.

Hans
01-08-2016, 07:06 AM
Prove me wrong.

Barry Morris
01-08-2016, 08:27 AM
Prove me wrong.

That's easy.

Read the TOP of your pay stub.

The Chronic Liar
01-08-2016, 09:01 AM
....and give me your tax return

Barry Morris
01-08-2016, 11:05 AM
Oh, and by the way, never in my life have I been offered an hourly wage or salary AFTER taxes!!!

RWGR
01-08-2016, 11:19 AM
Let them eat cake!

Anapeg
01-08-2016, 01:19 PM
Prove me wrong.

Did you put in hours at work for the money deducted? If you did it cost you money. That is monies you did not receive, your earned it but did not get it. Now if you fail to put that money in, your privileges for medical care would evaporate. I am starting to feel like RW here.

Anapeg
01-08-2016, 01:21 PM
Let them eat cake!

This is the kind of obedient servant governments love and foster.

RWGR
01-08-2016, 01:46 PM
I am starting to feel like RW here.

There's a term for that: euphoria

Barry Morris
01-08-2016, 02:25 PM
Projectile vomiting.

RWGR
01-08-2016, 03:50 PM
Projectile vomiting.

I'll take "What Did The Guy's Wife Do When He Proposed to Her" for $800, Alex

BFLPE
01-08-2016, 03:53 PM
So technically speaking, you are not actually paying taxes. You are simply being paid less than what you would get paid should taxes not be deducted.So I guess you don't pay tax on gasoline since it's included in the price at the pump?

kalam
01-08-2016, 05:09 PM
I think I am following what Hans is saying. I believe he is simply looking at this from a different angle. For example (using hypothetical numbers):

Scenario 1
I "make" $10 an hour. I worked for 1 hour.
40%, or $4 in "taxes" are deducted from my pay at the source (my employer) and given to the government
I therefore receive $6 in pay (I never received $10)

Scenario 2
I "make" $6 an hour. I work for 1 hour.
My employer is required to pay directly to the government the value of 66.66667% of earnings paid to its employee (me)
My employer is required to pay $4 (66.66667% of my $6) to the government in "taxes".
I receive $6 in pay.

KaL

Hans
01-09-2016, 12:01 AM
That is exactly my point, The taxes on my wage are never given to me, they are directly remitted to Revenue Canada.
Therefore it would be wrong to claim I owed that money at some point in time. It is money that was never provided to me in any way, shape or form.

Now if it would have been given to me and I remitted it to Revenue Canada, than I could say I paid it.

Hans
01-09-2016, 12:02 AM
So I guess you don't pay tax on gasoline since it's included in the price at the pump?

I do, since I have to pay the price that included the taxes with money I own and have in my possession.

Hans
01-09-2016, 12:07 AM
Did you put in hours at work for the money deducted? If you did it cost you money. That is monies you did not receive, your earned it but did not get it. Now if you fail to put that money in, your privileges for medical care would evaporate. I am starting to feel like RW here.

You cannot say it cost me money, because there is no legal way for me to ever have that money in my pocket at any point in time.
It goes directly to Revenue Canada.

In reality, you can say that money is money your employer has to pay to Revenue Canada for every hour you worked, and my employer has to pretend it is part of my wage and therefore "my money".

IMHO
01-09-2016, 12:27 AM
Is there a point to this..umm...debate?

Hans
01-09-2016, 12:29 AM
Yes.

Barry Morris
01-09-2016, 12:34 AM
Yes.

Not really, you merely get less believable.

Answer. Did you ever get offered an hourly wage or salary with the AFTER taxes figures???

Hans
01-09-2016, 12:38 AM
Offered is one thing, receiving is a different thing.

Hans
01-09-2016, 12:41 AM
And on another note, taxes on wages are deducted, not paid.
The word is deduction, not payment.

Barry Morris
01-09-2016, 01:06 AM
Offered is one thing, receiving is a different thing.

Uh-huh try to get back to your idea, I get it!!

Slicker than snot on a doorkn0b!!!!

BFLPE
01-09-2016, 01:25 AM
I do, since I have to pay the price that included the taxes with money I own and have in my possession.Ok. And when you purchase something at a retail store the wages of those who work at the store as well as those who made the product, shipped the product etc. are all factored into the price you pay. Part of their wages are the income tax portion their employer remits for them. So I guess you don't pay your own income taxes but you do pay other peoples income taxes since that's all included in the price of the product.

BFLPE
01-09-2016, 01:26 AM
I think I am following what Hans is saying.I thought that once, I woke up screaming!

Hans
01-09-2016, 06:24 PM
Ok. And when you purchase something at a retail store the wages of those who work at the store as well as those who made the product, shipped the product etc. are all factored into the price you pay. Part of their wages are the income tax portion their employer remits for them. So I guess you don't pay your own income taxes but you do pay other peoples income taxes since that's all included in the price of the product.

That is not exactly correct. Those with a tax exemption do not pay those taxes.
Since you do not know how many with such an exemption will purchase goods that day, your statement is incorrect.

Anapeg
01-09-2016, 09:41 PM
Is there a point to this..umm...debate?

Absolutely not. TTFN.