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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (99535)	3/24/2013 3:35:50 AM
From: Maurice Winn	1 Recommendation Respond to of 219862

No they are not survivable ElM, other than for the lucky or thinking few: <This thing is here for 4.5 billion years. Bring it on! Glaciation, bolides, all survivable. > The Great Fire of London was survivable. So were WWI, WWII and Stalin's and Mao's carnage, but not for those who did not survive. Mqurice

To: elmatador who wrote (99535)	3/24/2013 12:30:38 PM
From: Haim R. Branisteanu	1 Recommendation Respond to of 219862

Labor Income a Rarity in Italy, 2011 Tax Data Show 24-Mar-2013 By Christopher Emsden ROME--Only one in three of the Italians who filed tax returns in 2011 said they earned more than 20,000 euros ($25,971) in taxable income that year, according to new data released from the Economy Ministry. Around two in three Italians filed an income tax return that year, with the average IRPEF, or personal income tax owed, amounting to EUR4,820, the ministry's figures showed. Only 28,000 individuals were subject to a "solidarity levy" placed on annual incomes of above EUR300,000, and that tax brought in EUR260 million for 2011. One in four of the filings owed no income tax. As 22 million Italians are employed, many of the more than 41 million tax filings reflected pension or other forms of income. Total taxable national income classified as due to active labor amounted to around EUR450 billion in 2011. Another EUR350 billion came mostly from pensions, with investment and rents providing the rest. While tax evasion is considered widespread in Italy, the ministry's figure reflect actually taxable income. Financing the country's EUR2 trillion in sovereign debt currently costs around EUR90 billion a year. The income tax data highlight the importance of Italy's high home ownership, as that eases the cashflow needs for housing. Official estimates put the total value of residential real estate owned by Italy's households at EUR5 trillion, or 11 times declared labor income before income taxes. Only one million Italians declared gross taxable income of EUR70,000 or more. Only 7 million declared more than EUR29,000, a figure that would not suffice to achieve the average consumption expenditure for an Italian household, a figure that assumes EUR500 in monthly housing costs. Some EUR93 billion in extra income from various sources was declared but deducted from tax filings to obtain credits, with the bulk reflecting private spending on health care, life insurance and contributions to pension funds, according to the ministry's data. Write to Christopher Emsden at chris.emsden@dowjones.com @CHCEmsden (END) Dow Jones Newswires