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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: FiveFour who wrote (55056)10/28/2004 10:23:45 PM
From: Elroy Jetson  Read Replies (1) of 74559
 
1.) Swiss tax rates are generally higher than those in the U.S., although the power of the Canton (State) is generally superior to that of the Federal government, so tax rates vary greatly by Canton.

2.) Private health-care insurance in Switzerland is mandatory upon pain of fines and imprisonment. Ninety-nine percent of Swiss citizens are insured by non-profit companies that have to operate under stringent government regulations. Because individuals can choose among funds, insurance companies must compete with one another to attract clients. The introduction of markets in this sub-sector has successfully improved efficiency while maintaining universal coverage.

3.) Swiss Social Security is funded as a tax on salaries as shown:

Insurance                  Employer    Employee   Total 
Old-age/survivors' pension   4.2%        4.2%     8.4% 
Disability insurance         0.7%        0.7%     9.8% 
Military income /
loss compensation            0.15%       0.15%   10.1% 
Unemployment insurance       1.25%       1.25%   12.6% 
Occupational benefit plan   ~5%         ~5%   
Accident insurance           n/a        ~1%-2%   
Sickness insurance           n/a        mandatory    
Family Allowances           ~1.5%-3%    not liable


4. & 5.) The Swiss are strongly adverse to debt. Self-service gasoline pumps still use 5-Franc coins and credit cards are unusual oddities which are frowned upon. As you might expect debt levels for consumers, business, and government are very low.

Debt is seen as a miracle cure only in America.
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