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Back in 2008 I received a phone call from girls teacher who had just adopted her tax assessment outcomes. She had also chosen early retirement in November 2007. Yes, you guessed right. she had taken the D-I-Y way to save money for her retirement. But your employer comes with to pay 7.65% in the income he pays you for your Social Security and Treatment. Most employees are unaware of this particular extra tax money your employer is paying for you.

So, between you transfer pricing so your employer, the costa rica government takes 15.3% (= 2 times 7.65%) of one's income. When you are self-employed get yourself a the whole 15.3%. Considering that, anjing economists have projected that unemployment will not recover for that next 5 years; has actually to with the tax revenues has actually currently. Current deficit is 1,294 billion dollars along with the savings described are 870.5 billion, leaving a deficit of 423.5 billion 12 months.

Considering the debt of 13,164 billion another thing of 2010, we should set a 10-year reduction plan. To off the particular debt advise have shell out down 1,316.4 billion each year. If you added the 423.5 billion still needed to the annual budget balance, we might have to raise the revenues by 1,739.9 billion per period. The total revenues in 2010 were 2,161.7 billion and paying from all the debt in 10 years would require an almost doubling belonging to the current tax revenues.

Let me figure for 10, 15, and 20 years.

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