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DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
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Mitchman for 98% of the Mexicanos the surtax is SIXTEEN PERCENT. The PRI is also trying to affix IVA for doctor visits. People with Seguro would pay
16% tax, in cash for each visit. What's next, a poll tax? Let's see, no tax if a person votes PRI and full boat 16% tax if they don't?
It's gets worse. It does look like the "Minimum Bank Balance" measure is going to go into effect for residentes permanentes. They're talking about
50,000 pesos minimum, but it is to take place in steps.
Next is to change the status of tax for the Bajas Californias so it matches the mainland. Establish a free zone, just like the rest of Mexico for CAR
PERMITS and ban the ownership of everything but national cars for residentes permanentes. Exactly like on the mainland. They have got to do something
with the FRONTERA cars and this is where the hints and tips vanish. Ismael seems to think Aduana is going to allow the changing of status of Frontera
cars to Nacional but not USA cars nor cars from any other country. He seemed to smirk (this was over the telephone) when it came to the subject of
fees. I guess the tax is going to be substantial. Foreign plated cars will be out-of-luck just like they are on the mainland. For tourists, the
200,300,400 dollar Banjercito deposit, car permit 180-day fee, and proof of FMM status will apply. I asked him if he had any idea where the "Line"
will be and he said he did not know. (Maneadero perhaps?).
I've got to point out that at this point, all of the above is being "discussed". I would dismiss it, except the tax on medicines and food were not too
long ago "being discussed".
The golden days are fading. I feel it in my bones...
God, what a shame.
A Lot To See And A Lot To Do
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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As we speak:
12.8779 to 1
"YOU CAN'T LITTER ALUMINUM"
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Bajaboy
Ultra Nomad
Posts: 4375
Registered: 10-9-2003
Location: Bahia Asuncion, BCS, Mexico
Member Is Offline
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| Quote: | Originally posted by DENNIS
As we speak:
12.8779 to 1 |
I'm going to buy as soon as it hits 12.8781
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DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
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The "kicker" is the FED USA keeps devaluing the dollar. Despite the smoke and mirrors of currency exchanges when the US dollar is suddenly worth less
against a major percentage of world currencies, are you going to buy the story that all those currencies" are worth more"? Or choose Door Number Two:
The dollar is worth less? The Chinese are going to track the dollar even if it means having the peso worth 1 to 1, or the Euro worth 10 to 1. They are
latched tighter than a tick. We are their major trading partner and I smell a huge rat - like the USA selling our newfound shale crude oil to to
China. If the host cannot support the tick, the honorable masses are going to start beheading the politburo members. So much for technocrat finance
theory. Like communism, it looks good on paper.
A Lot To See And A Lot To Do
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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| Quote: | Originally posted by Bajaboy
| Quote: | Originally posted by DENNIS
As we speak:
12.8779 to 1 |
I'm going to buy as soon as it hits 12.8781 |
12.8640 right now.
Jeeezo...the dollar is in a disintegrating freefall as a result of congress giving us a temporary fix on fiscal disaster.
Ohhh well....things will fall apart again in a couple of months and we'll be back to normal.
"YOU CAN'T LITTER ALUMINUM"
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
Member Is Offline
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| Quote: | DavidE
Mitchman for 98% of the Mexicanos the surtax is SIXTEEN PERCENT. The PRI is also trying to affix IVA for doctor visits. People with Seguro would pay
16% tax, in cash for each visit. What's next, a poll tax? Let's see, no tax if a person votes PRI and full boat 16% tax if they don't?
It's gets worse. It does look like the "Minimum Bank Balance" measure is going to go into effect for residentes permanentes. They're talking about
50,000 pesos minimum, but it is to take place in steps |
Man, what are they thinking? It is so myopic and reflects economic/financial inexperience or gross naivete of their legislature. These sweeping
measures, should they be imposed overnight, would be counter productive and even damaging, especially in the short run. It's like they have a bunch
of careless brash yahoos running the country.
Having a checking account in Mexico is pain in the neck as it is. So many Mexican independent contractors refuse to use bank accounts, as a result,
most if not all of the their income remains under the table...and the Mexican government wonders why they have a problem finding and income taxing the
under the table income.
Their dumbasss solution is to impose large flat transaction taxes mostly affecting the lower end people to make up for lost revenue due to underground
income not being taxed. If they would just lift up their heavy heads and look around at the their next door neighbor's (USA) banking practices,
taxing authority audit practices they would see that easy use checking accounts and mandatory (penalized if you don't) accounting and record keeping
requirements would go a long way in solving the most common type of underground hidden income tax loss. I guess they don't realize the quality audit
trail that checking accounts provide.
It seems as though, when the government perceives a problem, they go after low hanging fruit types of simplistic gross solutions that hurt the wrong
people and the economy itself.
And this dumbasss "factura" thing...I wonder what genius thought that one up?
[Edited on 10-17-2013 by MitchMan]
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bajagrouper
Senior Nomad
Posts: 964
Registered: 8-28-2003
Location: Rincon de Guayabitos, Nayarit, Mexico
Member Is Offline
Mood: happy and retired
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MitchMan states:
" These sweeping measures, should they be imposed overnight, would be counter productive and even damaging"
Like the PRI cares, do you remember the night 3 zeros went missing from the peso, I am sure it affected more people then than this tax will...
And another thing,why not wait until the law is passed instead of speculating what it will affect, there is nothing expats or tourists can do about it
anyway...
[Edited on 10-17-2013 by bajagrouper]
I hear the whales song
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captkw
Ultra Nomad
Posts: 3850
Registered: 10-19-2010
Location: el charro b.c.s.
Member Is Offline
Mood: new dog/missing the old 1
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IVA
Instant value added...right !!!.....LOL I rember the peso devalue well
myself..as a young guy with a big pile of peso's and everthing Sooo cheap !! I was living the life...then there was only one(1) hotel between SJ and
cabo..I used LOVE the green 10,000 peso note..made me feel like a rich guy...LOL
[Edited on 10-17-2013 by captkw]
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
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My fifty centavo bill
| Quote: | Originally posted by captkw
Instant value added...right !!!.....LOL I rember the peso devalue well
myself..as a young guy with a big pile of peso's and everthing Sooo cheap !! I was living the life...then there was only one(1) hotel between SJ and
cabo..I used LOVE the green 10,000 peso note..made me feel like a rich guy...LOL
[Edited on 10-17-2013 by captkw] |
Bob Durrell
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DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
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The Mexican government was ready REALLY REALLY READY to loot the energy sector by privatizing electrical production. Then California de-regulated and
my Mexican neighbors and myself watched the massive rape on Mexican Television. The public was outraged. The politicians were going to take the
proceeds and run.
CARLOS SLIME was conciliatory about improving TelMex, and reducing rates UNTIL his rabbi came back the PRI. The accommodating Slime is nowhere to be
seen. For the next five years he has it knocked. Rural communities are STUCK with pitifully underpowered communications. Need a land line or internet
in Bahia Asuncion? Good Luck. Carloss wants to be the first trillionaire in history. He'll never get there, but he keeps trying. It's nice when you
are THE monopoly.
A Lot To See And A Lot To Do
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Howard
Super Nomad
Posts: 2353
Registered: 11-13-2007
Location: Loreto/Manhattan Beach/Kona
Member Is Offline
Mood: I'd rather regret the things I've done than regret the things I haven't done.
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12.717468715 to the $
Just got back from the bank ATM in Loreto and that is what I got when I pulled out 10,000 peso's, cost $786.32.
This is real time, not some web site.
We don't stop playing because we grow old;
we grow old because we stop playing
George Bernard Shaw
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DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
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Señor Howard...
Which bank? There seems to be a noticeable difference in tipo de cambio between BanaMex and BanComer.
A Lot To See And A Lot To Do
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Howard
Super Nomad
Posts: 2353
Registered: 11-13-2007
Location: Loreto/Manhattan Beach/Kona
Member Is Offline
Mood: I'd rather regret the things I've done than regret the things I haven't done.
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BanaMex on Salvatierra.
It would be interesting if some else posts a w/d at an ATM this weekend to see what they got.
We don't stop playing because we grow old;
we grow old because we stop playing
George Bernard Shaw
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DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
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I know in the space of 45 minutes, I saw 90 centavos difference in the tipo de cambio between BanaMex and BanComer ATM machines.
A Lot To See And A Lot To Do
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Howard
Super Nomad
Posts: 2353
Registered: 11-13-2007
Location: Loreto/Manhattan Beach/Kona
Member Is Offline
Mood: I'd rather regret the things I've done than regret the things I haven't done.
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Which one gave the higher rate? Was it over a weekend?
We don't stop playing because we grow old;
we grow old because we stop playing
George Bernard Shaw
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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Today------10/27/13
12.8795
"YOU CAN'T LITTER ALUMINUM"
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DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
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The difference was on a Tuesday morning, around 10:00AM - 11:00. Banamex gave an 11 centavos less (lower) rate of exchange but charged 27 pesos for
the transaction rather than BanComer's 77 pesos fee (since then I understand Bancomer has lowered their fee a little).
What is really warping the Peso Dollar exchange rate, is the Fed is frequently devaluing the dollar. Mexico is caught in a bind, if they let the
peso's value climb too high, they risk losing a lot of trade with the US and Canada. The Chinese meanwhile have a death grip on the dollar. They
cannot risk prices shooting up on goods and having trade severely impacted. Unemployed Chinese can pose a very real threat to eat the Politburo.
Where does this all end? Who the hell knows. We have legions of "speculators" who would sell their mother for a dollar. Coffee, orange juice, wheat,
rice, electricity, it's all prime fodder for Ali Babba and The Forty Thieves. Mexican companies got badly burned when they tried fiddling in the
derivatives market. CeMex went through some tough times and had to lay off a lot of workers.
Think this is a joke? The part about manipulation of goods and prices?
http://news.yahoo.com/blogs/technology-blog/russian-asteroid...
We're running out of oil and that apple "really" should cost eight dollars!
A Lot To See And A Lot To Do
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
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| Quote: | Originally posted by Howard
BanaMex on Salvatierra.
It would be interesting if some else posts a w/d at an ATM this weekend to see what they got. |
ATM WITHDRAWAL - H S B C /H S B C ENSENADA, B. MX $464.70 (includes their charge for 6,000 pesos) = 12.912/$
Bob Durrell
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motoged
Elite Nomad
Posts: 6481
Registered: 7-31-2006
Location: Kamloops, BC
Member Is Offline
Mood: Gettin' Better
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| Quote: | Originally posted by DavidE
......CARLOS SLIME was conciliatory about improving TelMex, and reducing rates UNTIL his rabbi came back the PRI. ..... |
David,
I don't understand your reference to "his rabbi" ???? Can you please explain?
Don't believe everything you think....
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DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
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Carlos and the PRI are even closer than the PRI is to Televisa. All of the so-called "reforms" and consumer advocacy of TelMex stopped dead in its
tracks once the Movie actress and her husband went to Los Pinos. The SCT was revamped and the chances of meaningful telephone competition went the way
of 3 peso gasoline.
Slim has boasted (remember he is the epitome of Mexican MACHO) that he will do anything to become the richest man in the world. He doesn't even
believe in investing in Mexico. Much of his money now is directed at the USA market. Un cerdo mas gordo. The Trac Phone market for instance.
Slim talks like an arrogant racist. He secretly mocks the USA (sends relatives to schools in Europe) and likewise his family shops at the best
boutiques in Europe.
And the "government" the PRI has promised Slim no competition during this sexenio.
A Lot To See And A Lot To Do
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