Exchange rate baht vs. dollar

[foreverlomsak]

7 hours ago, Skeptic7 said:

USD has lost roughly 25% against THB over past 20 years and approx 12% over past 5 years. 

Think yourself lucky, in the 15 years I have been here GBP dropped by some 45%, recovering to about 37% down  on the 2005 rate today.

[Skeptic7]

1 minute ago, foreverlomsak said:

Think yourself lucky, in the 15 years I have been here GBP dropped by some 45%, recovering to about 37% down  on the 2005 rate today.

Aware of that and don't consider either of us "lucky" with regard to exchange rate deterioration of our currencies against THB. However my post was in response to another who thought there was very little fluctuation of THB against specifically USD due to it still being pegged to USD. That mistake has now been cordially corrected and accepted. 

[Susco]

2 hours ago, Thomas J said:

 The top 1% pay 37.3 which is more than the bottom 90%.  combined.  And that is not "progressive" 

 

You're right Thomas, they pay 37.3% on what they declare, which means the profits which are not hidden, not taxable because they are earned through companies registered in tax havens, or which they can deduct because some creative accounting.

 

Apple and Amazon are some very good examples of that, but that are just a few, and the evidence of that is available online for everyone to check.

 

Now tell us, which average joe sixpack has the same options to hide his income.

 

[Thomas J]

17 hours ago, Susco said:

You're right Thomas, they pay 37.3% on what they declare, which means the profits which are not hidden, not taxable because they are earned through companies registered in tax havens, or which they can deduct because some creative accounting.

You read the article wrong. They PAID 37.3% of all the taxes.  That is not their tax rate on what was declared, Their rate was high enough that they paid 37.3% of all of  the total personal income tax.  That AMOUNT was more than all the money collected from the bottom 90%. 

As to Amazon.  When they started up, they did not make money.  They spent money and declared losses.  Most companies do not make money from the beginning.  Now Amazon is making a profit.  It gets to deduct those prior year losses against current income.  So if a company loses 5 million dollars during start up.  They don't have to start paying taxes until they have recouped their loss.  That is not an accounting "gimmick"  That is just fair or would you have it that company can not declare losses but you tax the <deleted> out of them when they make a profit. 

Now finally, you and most others are under the delusion that somehow "companies pay taxes"  No, they write the check, but you the consumer pay those taxes.  In Thailand there is a 7% VAT.  When you buy something do you write a check to the Thailand government for that 7%  No the company did, but did you pay for that?  Yes you sure did.  It was added to what you bought.  Do you think that it is any different with any tax.  If you do, you don't know how business works.  Costs must be covered before the company makes any profit.  If costs go up, those have to be passed on to the consumer.  Income tax, property tax,  tax assessments, governmental fees, licenses etc are a cost.  They are no different than wages, utilities, rent, insurance.  So somehow you "think" that you can slip the Old Maid card to business and have them pay tax so you don't.  

Here is a quote from Ronald Reagan.  When you buy a loaf of bread there are 151 different taxes in its price.  The taxes amount to over half of its cost. 
If people need any more concrete explanation of this, start with the staff of life, a loaf of bread. The simplest thing; the poorest man must have it. Well, there are 151 taxes now in the price of a loaf of bread — it accounts for more than half the cost of a loaf of bread. It begins with the first tax, on the farmer that raised the wheat. Any simpleton can understand that if that farmer cannot get enough money for his wheat, to pay the property tax on his farm, he can’t be a farmer. He loses his farm. And so it is with the fellow who pays a driver’s license and a gasoline tax to drive the truckload of wheat to the mill, the miller who has to pay everything from social security tax, business license, everything else. He has to make his living over and above those costs. So they all wind up in that loaf of bread. Now an egg isn’t far behind and nobody had to make that. There’s a hundred taxes in an egg by the time it gets to market and you know the chicken didn’t put them there! - Ronald Reagan - 1975

Now final thing those liberal "progressives" don't broadcast.  Profits from companies get taxed twice.  If Amazon makes 1 billion dollars and then pays taxes of 20% it has 800 million left.  If it then distributes that $800 million to its owners in the form of a dividend  that same income that has already been taxed, gets taxed again at the personal level.  So if I owned 10% of Amazon I would have paid 10% of the tax bill at the corporate level or $20 million.  I would then pay 22% dividend tax rate on the $80 million I got as a dividend or another $17.6 million.   for a total of 37.6 million on income of 20 million.   So that is 47% of the $80 million and it does not include any state taxes the company and I paid as well. 

This Bull excrement about creative accounting.  There are "legitimate deductions"  A person is allowed to deduct for interest on a mortgage, taxes paid, number of children, contributions to a 401K.  Companies are no different.  They deduct only what is "legal" When you deduct it you call it fair.  When a company deducts it, somehow you call the same deduction a "loop hole" 

Here is graphically who "pays" for most of the federal income tax.  As stated the top 1% pays more than the bottom 90% combined.  

Edited May 29, 2021 by Thomas J

[Wake Up]

On 5/27/2021 at 3:05 PM, Kwasaki said:

Where are the Brit brexit remainers and the 25 to £ are they hiding. 

I got 44.77 on my UK pension last week. ????

I admit I thought brexit was awful for Great Britain and the pound would sink to new lows. I was wrong so far on the pound as it has strengthened.  I hope I continue to be wrong for the sake of my British friends here. ????

[Chivas]

On 5/28/2021 at 2:45 AM, elgenon said:

Yes, duh. If it were pegged, the exchange rate wouldn't fluctuate at all would it? 

 

lol chap unless you're holding only USD there are two pairings in every currency exchange

Movement in either pairing effects the bottom line

[sanuk711]

On 5/27/2021 at 12:39 PM, mikebike said:

Are you aware that the baht is directly tethered to the U.S. dollar?

How could that be Mikebike---just tethering to one currency must mean you can buy with one then sell into the other---There has to be parity between the currencies ,

 

[Kwasaki]

10 hours ago, Wake Up said:

I admit I thought brexit was awful for Great Britain and the pound would sink to new lows. I was wrong so far on the pound as it has strengthened.  I hope I continue to be wrong for the sake of my British friends here. ????

Many experts in the finale days of deal or no deal said it doesn't matter the UK will survive the EU is too big, it can't be a China or a USA. 

[elgenon]

On 5/29/2021 at 9:39 PM, Chivas said:

 

lol chap unless you're holding only USD there are two pairings in every currency exchange

Movement in either pairing effects the bottom line

$ are 999999.99999%, the rest in baht. 555 I am rooting for the dollar.

 

My bud in Houston wants the rate to go back to 41. Ain't gonna happen but I would love it. We veterans of Thailand remember the good ol' days.

[Chivas]

On 6/1/2021 at 3:21 AM, elgenon said:

$ are 999999.99999%, the rest in baht. 555 I am rooting for the dollar.

 

My bud in Houston wants the rate to go back to 41. Ain't gonna happen but I would love it. We veterans of Thailand remember the good ol' days.

 

Its not that long ago lol

Only 24 years ago

[SCOTT FITZGERSLD]

On 5/27/2021 at 8:58 AM, AquaThai said:

Heres some food for thought... if a country is placed on a currency  manipulation  watch list, can that country actually  borrow money, or is the watch list just a fake list?

if that country is a strong U.S. ally than no worry about corruption and manipulations, even a small coup will be tolerated with no condemnation from new york based UNITED NATIONS.

also no riots in the streets will be encouraged by the CIA, just give us this USD hedge and all will be fine.

[SCOTT FITZGERSLD]

On 5/30/2021 at 4:39 AM, Chivas said:

nless you're holding only USD there are two pairings in every currency exchange

INDEED the whole sense of currency trading is based on deciding which one is

your base currency. than you count all your results in that currency.

otherwise nothing makes sense.

[elgenon]

14 hours ago, Chivas said:

 

Its not that long ago lol

Only 24 years ago

Only yesterday! 555

[Chivas]

On 6/4/2021 at 2:51 AM, elgenon said:

Only yesterday! 555

lol true

Mind you I remember it like yesterday, I had phone call back in the UK when it jumped from languishing around the 39 mark where it had been for an extensive period to 53. He said have you seen the exchange rate lol on the phone.

Both of us were over the moon at 53 but of course it kept on going !

[Yellowtail]

On 5/29/2021 at 11:24 AM, Thomas J said:

You read the article wrong. They PAID 37.3% of all the taxes.  That is not their tax rate on what was declared, Their rate was high enough that they paid 37.3% of all of  the total personal income tax.  That AMOUNT was more than all the money collected from the bottom 90%. 

As to Amazon.  When they started up, they did not make money.  They spent money and declared losses.  Most companies do not make money from the beginning.  Now Amazon is making a profit.  It gets to deduct those prior year losses against current income.  So if a company loses 5 million dollars during start up.  They don't have to start paying taxes until they have recouped their loss.  That is not an accounting "gimmick"  That is just fair or would you have it that company can not declare losses but you tax the <deleted> out of them when they make a profit. 

Now finally, you and most others are under the delusion that somehow "companies pay taxes"  No, they write the check, but you the consumer pay those taxes.  In Thailand there is a 7% VAT.  When you buy something do you write a check to the Thailand government for that 7%  No the company did, but did you pay for that?  Yes you sure did.  It was added to what you bought.  Do you think that it is any different with any tax.  If you do, you don't know how business works.  Costs must be covered before the company makes any profit.  If costs go up, those have to be passed on to the consumer.  Income tax, property tax,  tax assessments, governmental fees, licenses etc are a cost.  They are no different than wages, utilities, rent, insurance.  So somehow you "think" that you can slip the Old Maid card to business and have them pay tax so you don't.  

Here is a quote from Ronald Reagan.  When you buy a loaf of bread there are 151 different taxes in its price.  The taxes amount to over half of its cost. 
If people need any more concrete explanation of this, start with the staff of life, a loaf of bread. The simplest thing; the poorest man must have it. Well, there are 151 taxes now in the price of a loaf of bread — it accounts for more than half the cost of a loaf of bread. It begins with the first tax, on the farmer that raised the wheat. Any simpleton can understand that if that farmer cannot get enough money for his wheat, to pay the property tax on his farm, he can’t be a farmer. He loses his farm. And so it is with the fellow who pays a driver’s license and a gasoline tax to drive the truckload of wheat to the mill, the miller who has to pay everything from social security tax, business license, everything else. He has to make his living over and above those costs. So they all wind up in that loaf of bread. Now an egg isn’t far behind and nobody had to make that. There’s a hundred taxes in an egg by the time it gets to market and you know the chicken didn’t put them there! - Ronald Reagan - 1975

Now final thing those liberal "progressives" don't broadcast.  Profits from companies get taxed twice.  If Amazon makes 1 billion dollars and then pays taxes of 20% it has 800 million left.  If it then distributes that $800 million to its owners in the form of a dividend  that same income that has already been taxed, gets taxed again at the personal level.  So if I owned 10% of Amazon I would have paid 10% of the tax bill at the corporate level or $20 million.  I would then pay 22% dividend tax rate on the $80 million I got as a dividend or another $17.6 million.   for a total of 37.6 million on income of 20 million.   So that is 47% of the $80 million and it does not include any state taxes the company and I paid as well. 

This Bull excrement about creative accounting.  There are "legitimate deductions"  A person is allowed to deduct for interest on a mortgage, taxes paid, number of children, contributions to a 401K.  Companies are no different.  They deduct only what is "legal" When you deduct it you call it fair.  When a company deducts it, somehow you call the same deduction a "loop hole" 

Here is graphically who "pays" for most of the federal income tax.  As stated the top 1% pays more than the bottom 90% combined.  

 

Notice how quiet it got? 

[KannikaP]

On 5/27/2021 at 12:39 PM, mikebike said:

Are you aware that the baht is directly tethered to the U.S. dollar?

REALLY? In the past 3 months it has varied between 30.6 and 31.5.

Edited June 6, 2021 by KannikaP

[Chivas]

26 minutes ago, KannikaP said:

REALLY? In the past 3 months it has varied between 30.6 and 31.5.

 

This catches some out so often. You're actually both right. The Baht (as does every currency) takes its "fix" off the USD 24/7 being the worlds "reserve currency"

 

Pegged and tethered is not the same. Yes up to 1997 it was pegged to the USD (25 at that time) but since then its "floated" but like all currencies its still linked to the USD via its "fix" and hence "tethered"

 

Thing to remember is the USD forms part of every forex transction in the world bar none.

[Chivas]

KannikaP

 

What are you confused about ??

[riclag]

On 5/28/2021 at 2:20 PM, riclag said:

Your getting it !

The covid crisis hasn't effected the baht strength  even with tourism revenue and unemployment figures  way down ! You would think that the bht vs the USA dollar would be 33 or higher imop

Here it is !  The covid crisis is  having a big impact on the Bht  . It just took 2 months of skyrocketing   covid numbers and vaccine  mismanagement to kick it off ! 

The  tether with the USA  for now isn't the driving force that weakens the bht ,its the crisis ,revenue and unemployment ! 

 

 

Edited August 6, 2021 by riclag

[Yellowtail]

It is interesting that so many people seem to go on and on about the administration keeping the Baht too strong and when it starts falling it seems the same people go on and on about how the bottom is falling out.