In KTFA 

Ross:  Count the cost of the RI/RV: So if it comes out at 1:1 and you exchange 1,000,000 dinars for $1,000,000 what is the net ?? Tithe is off the top of 10%.   O’Biden’s capital gains tax proposal is about 45%. Estimating about 10% tax for most states (wag). Leaving a balance of roughly 35% or $350,000 instead of $1,000,000.  Think about that in your dream planning.

MrDon:  I researched “Biden Tax Hike”every way I could. There is a ton of information on it online. Yes, it’s going to be brutal…BUT…the vast majority of experts on tax and finance issues say that everything points to the new Biden plan becoming effective for the 2022 tax period.

We just MAY get around it this year.

By the time he gets it through congress, IF he is successful, it will be closer to Jan 2022 than Jan 2021.

When Trump did his big tax change it got approved in late summer and became effective the upcoming year. I feel pretty good about this. Google it…”Biden tax hike” or “When would new tax plan take effect?” It’s out there.

Assuming the “masses” are correct and the Obiden plan is effective in 2022, then we would be blessed with the current 15-20% ‘long term gain’ tax (% dependant on income), of course assuming you have held currency for more that one year. IMO   BIG difference!!!!   This is all IMO, of course.

Samson:  Today … an evening meeting to decide the fate of the budget

18th March, 2021

The Finance Committee in the House of Representatives revealed, on Thursday, an evening meeting today to resolve the fate of the budget.

The deputy of the committee, Sherwan Mirza, said, “The Presidency of the House of Representatives will hold a meeting this evening, with the heads of parliamentary blocs and members of the Finance Committee to discuss the draft federal budget bill for 2021.”

He added, “This meeting will determine the date for voting on the budget,” adding: “We in the Finance Committee want the budget to be presented in the House of Representatives in an atmosphere far from convulsions.”

Mirza explained, “The issue of the Kurdistan region’s share is not the only file that has not been resolved in the draft budget law. The Shiite blocs have observations, and the Sunni blocs also have observations, so the meeting that will be held this evening will decide the fate of the budget.”  LINK


Samson:  Political agreement to pass the Federal Court law today and the budget tomorrow

18th March, 2021
The representative of the Al-Fateh bloc, Mithaq Al-Hamidi, announced, on Thursday, a political agreement to pass the Federal Court law today, likely to pass the budget law tomorrow, Friday.

Al-Hamdi said to Shafaq News, “The Presidency of Parliament has agreed with the heads of political blocs that today’s session will be devoted to the final vote on the Federal Court law,” explaining that “the session will take place after an hour.” And she continued, “If there is enough time, the budget law will be included for voting, and if there is no session on Friday to vote on the budget law.”

A parliamentary source revealed, today, Thursday, that Parliament Speaker Muhammad al-Halbousi held a meeting with the Shiite blocs to bring closer views of the Federal Court law. The source told Shafaq News Agency that Al-Halbousi and his first deputy, Hassan Al-Kaabi, met with the heads of the Shiite blocs at the headquarters of the Badr Bloc and in the presence of the head of the block and its members and the Deputy Secretary-General of Badr Abdul Karim Al-Ansari Organization, to discuss the controversial points about the Federal Court law.

During the last period, Parliament voted to pass 21 articles of the Federal Court bill, and disputes revolve around three pending articles. The differences focus on granting seats to Islamic law jurists from the Shiite and Sunni sects, seats in the Federal Court, and giving them the power to vote on decisions. Disputes also revolve around the voting mechanism in the Federal Court as to whether unanimity is required to pass decisions or simple majority.  LINK


Samson:  The House of Representatives sets tomorrow, Friday, the date for voting on the federal budget

03/18/2021 19:19:21

The House of Representatives has set tomorrow, Friday, the date for voting on the federal budget bill for 2021.

The media department of the council stated in a statement that the Euphrates News received a copy of it that “the voting session on the federal budget will be tomorrow, Friday, at exactly one o’clock in the afternoon.”   LINK


Samson:  Economist: Private sector debts owed by the government have reached 45 trillion dinars

19:48 – 17/03/2021

The economist Basem Jamil Antoine announced that there were debts to the private sector of factories and companies owed by the government amounting to 45 trillion dinars, which caused the market movement to be paralyzed and stopped.

Antoine said to / the information / that “legally and economically it is assumed that the private sector occupies 50% of the employment in the country and occupies 40% of the investment budget of the country annually by local companies.”

He added, “What is happening is that the government killed the private sector by not paying the debts owed to the owners of companies, factories and others,” noting that “the total private sector debts owed by the central government exceeded 45 trillion dinars.”

He explained that “the government’s failure to pay these debts caused an increase in unemployment and completely paralyzed the sector and the Iraqi market,” noting that “if it were the opposite, the government would have gone to penalties, imprisonment and exclusion of those who did not pay what they owed to the government.”

He stated that “the government, with its decisions, destroyed the country’s economy and eliminated the economic movement of the private sector in the country.”  LINK


Don961:  New York maintains its top spot for the global financial centers index, followed by London

151 Economie 2021/03/17 19:51 Baghdad Today – Follow-up

New York held the first place in the latest reading of the Global Financial Centers Index, while London ranked second in the face of competition from Shanghai and other Asian centers.

The index, compiled by the London-based research institute Z / Y Group and the China Development Institute, looks at 143 standards submitted by outside parties such as the World Bank, the information unit of The Economist, the Organization for Economic Cooperation and Development and the United Nations.

Based on 65,507 financial position ratings submitted by 10774 people who responded to an online index survey, New York remained in first place after scoring 764 points, while London fell 23 points to 743, one point ahead of Shanghai.

“Four points would have made Singapore second directly after New York. The differences are slight between the top places,” said Michael Minnelli, CEO of Z / Y.

And occupied six Asian financial centers out of the top ten on the index with three from Europe, including Frankfurt and Zurich.   LINK

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