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Brazil's Plan to Guarantee 4% Growth in 2009 PDF Print E-mail
2008 - November 2008
Written by Alexandre Rocha   
Saturday, 13 December 2008 15:26

Weighing moneyBrazil announced a series of measures to stimulate the economy and try to strengthen the country against more severe effects of the international crisis. Among the measures is a package for reduction of taxes. Such a package will result in a tax cut of 8.4 billion Brazilian reais (US$ 3.6 billion) in 2009, with the objective of leaving more money in the pocket of consumers.

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Comments (12)Add Comment
Tax Cut
written by João da Silva, December 13, 2008
Such a package will result in a tax cut of 8.4 billion Brazilian reais (US$ 3.6 billion) in 2009, with the objective of leaving more money in the pocket of consumers.


I don't think that the author really went through this "package". I know what it contains and I am certainly not one of the beneficiaries. Rocha does write some good articles once in a while and I will not say that this one is one of his masterpieces. But there again nobody is 100% perfect.
dont worry Joao !
written by ch.c., December 13, 2008
the Tax cut is the equivalent of US$ 1,50 per capita....per month !!!!!

Many poors could finally add ONCE monthly a bone without meat, to their feijados meals ! Just for the smell !
Ch.C
written by João da Silva, December 14, 2008
dont worry Joao !


I am not worried and nor should you be. smilies/cheesy.gif

Do you know that I have been filing my Income Tax returns for years without any flaws? Then in 2003 I found myself "elevated" to the status of very rich people falling into the 27.5% bracket. Didn't complain. I thought that the government would come out with a package to bring me down. They didn't. smilies/cry.gif

So, even though I am not rich as Safra, Antonio Moraes, Maluf, etc;, I am still in the same tax bracket. I don't know whether to laugh or cry. Now I read Rocha´s article informing the world at large that:

Among the measures is a package for reduction of taxes. Such a package will result in a tax cut of 8.4 billion Brazilian reais (US$ 3.6 billion) in 2009, with the objective of leaving more money in the pocket of consumers.


LAUGH....LAUGH....... As a protest, I am not going to give any gifts to the "Porteiros" of my condo this year. It is high time they learn´t to file their bloody IR and pay taxes instead of living off my back.

How do you like my recently acquired nasty attitude?
Ch.C
written by João da Silva, December 14, 2008
Hey Ch.C, you are a scholar in French, German, English, Portugese, Swahili, etc; Please help me to put the following expression in Parisian French:

"Le Noblesse nein vai oblesse porra nenhuma"

Thank you antipadamente. smilies/wink.gif
Joao
written by ch.c., December 14, 2008
sorry but I dont speak Portuguese !

is the 3rd word (nein) the german word for No, or is it in Portuguese ?

And I have tried several online dictionaries to translate...oblesse....and find nothing neither in French or English !

Try may be to put your approximate words in English and I will see if I can reconstruct in french !

smilies/wink.gif
Ch.C
written by João da Silva, December 14, 2008
sorry but I dont speak Portuguese !


Oh, really? That is a news to me. smilies/wink.gif

Never mind about the translation. I am sure that our esteemed Brazilian and Ex-pat bloggers will understand my expression!

Here is an interesting link and hope your are able to read at least:

http://www.estadao.com.br/esta...3488,0.php

smilies/grin.gif
Joao
written by ch.c., December 14, 2008
Yess interesting interview :
- what did he meant in the first paragraph concerning the wages ?
- he said he knew prices where too high early in the year. Right ? then why did he tried to buy a large competitor paying top prices ? Hmmmm ! smiles
- Although China is also obviously playing their own negotiation game, sorry but Agnelli is lying. China doesnt ask an 82 % price reduction of the last 3 years price increase....but an 82 % price decline....putting the price at the 1994 level. Quite a difference in my view. smiles.
Here is the fact :
http://www.bloomberg.com/apps/news?pid=20601086&sid=auJZI2qDNd6Y&refer=latin_america

Time will tell with negotiations !

Ch.C
written by João da Silva, December 14, 2008
I knew you would find the interview very interesting and that was the reason I decided to send to get your feel on it. Some things are clear to me and many are not. Always good to seek others opinion, when one is in doubt.

what did he meant in the first paragraph concerning the wages ?


Obviously he is saying the same thing many say about our outdated labor laws. Remember that the bail out of the U.S. automakers failed because of UAW did not want to take wage cuts. What Roger is saying is that it is time for the government to reform the labor laws and impose some sort of control over the Labor Tribune and the labor unions that really don't give a s**t about the welfare of its members. I think that Agnelli is pointing it out with veiled threat of job losses.

Although China is also obviously playing their own negotiation game, sorry but Agnelli is lying.


Possibly, he is. But I think he is trying to twist the arms of both I and C in BRIC. Mittal of I and C are too smart and they are negotiating with Roger! Of course with full blessings of U.S. and U.K (Remember what Dnb keeps on saying about the "Two Horned beast" ?). Also pay attention to what he said about his not going back to BRADESCO as well the comments made by some Brazilian readers of that link I sent.

Time will tell with negotiations !


You are right. Probably in another 4 months time, the picture may become clearer.BUT.....BUT....., I do not personally think that the commodity prices are going back to the level of 2007 very soon. That includes the price of oil as well as Soy beans.

Another thing I am certain is that we will not be hearing about the "Next" round of Doha talks anytime soon. I think that U.S., China and India are very happy to keep the talks in the freezer for a year or so.

May be I am wrong, but to quote you, only the time will say. smilies/cheesy.gif
I do not personally think that the commodity prices are going back to the level of 2007 very soon. That includes the price of oil as well as Soy beans.
written by ch.c., December 15, 2008
that is for sure...in my view. Simply because a bubble is a bubble and needs many many many years to retouch the previous highs !
That is why I love long term charts (multi-decades) on grains prices.
But on grains, bubbles and bursts happen more often than on metals or oil.
Soyabeans was already bubbling until early 2004 at US$ 11.- before bursting until 2006 and bubbled again at $ 16.- this year !!!!

Therefore I believe we are more on the bottoming process in US$ term, without predicting anything in particular very precise.

As to the US$, you know my bullishness. It has changed this week when we broke the 1,31 level upside on the Euro.
And all currencies rallied too !
Is it a change in long term trend ? I have no idea but dont think so.
In my view it is more a year end book squaring positions.
I would not be surprised that the currencies rallies even more, even the Brl.
For the Brl that would be very good for the companies because for year end and end of quarter that would reduce their currencies losses they have to disclose.
I would not be surprised Meireiles will intervene more ! smiles

On oil, the bulls expected US$ 200.- from the $ 130 level, now the bears expect US$ 25.- ! the bullish view did not smell good to me, now the ultra bearish view doesnt smell good to me either.

Therefore for the time being
...US$ bearish...until ????? !
...bullish grains, oil...until ????? !

And....and...and still very very bullish on ALL the World Equities Markets !

Time will tell...as usual !

Stupid question Joao.....what do you hear on brazilian residential real estate prices in local currency ? Not the direction for the future but the actual prices from 6 months ago, 12 months ago.

Just for your information, in July 2007 HSBC sold their London HQ.
They just bought it back for 30 %....LESS !!!!! Not bad in 16 months.... in real estate.....isnt it ? smiles
CHC – Chronicle Herpes Carrier
written by ..., December 15, 2008
The gayman with itchy genItalia living north of Italia.

CHC, I hate to bother you but I think you are due for your next enema!

Costinha
rob
written by roberto schruder, January 29, 2009
i love guys smilies/smiley.gif
answer
written by NoelMadeleine24, October 16, 2010
Various people in every country get the credit loans in different banks, just because it's fast and easy.

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