•   
  •   
  •   

Money Welfare Icon Denmark Now Wants People to Take Care of Themselves

16:20  01 march  2017
16:20  01 march  2017 Source:   bloomberg.com

Queen Latifah to be honoured as an entertainment icon

  Queen Latifah to be honoured as an entertainment icon LOS ANGELES - Queen Latifah will get the royal treatment at the upcoming American Black Film Festival Honors. The Oscar-nominated actress is set to receive the Entertainment Icon award at this year's ceremony, to be held in Los Angeles on Friday. The star of "Star" on Fox says she is honoured to receive the award. "It means so much to me coming from fellow entertainers and my peers." Queen Latifah got her start as a rapper almost three decades ago. Besides her Oscar nod for "Chicago," she's also been nominated twice in Emmy acting categories and won a Golden Globe.The American Black Film Festival Honors will air on BET and Centric at 8 p.m. EST on Feb. 22.

Denmark's flag © nicfotos/Getty Images Denmark's flag

(Bloomberg) -- When a European government raises the pension age and makes cuts to welfare programs, it’s usually because of dire finances. In Denmark’s case, it’s because of ideology.

Greece, Italy and other highly-indebted countries are regularly urged by officials in Brussels to find ways of reducing public spending or making their labour markets more efficient. But of Denmark, the European Union's commission said in its most recent report: Competitiveness indicators "don’t point to major challenges;" employment has "remained strong;" and the "risks to Denmark’s fiscal sustainability are low in the short, medium and long term."

Madonna Shares Sweet Video of Her New Twins Singing ‘Twinkle Twinkle Little Star’

  Madonna Shares Sweet Video of Her New Twins Singing ‘Twinkle Twinkle Little Star’ Madonna Shares Sweet Video of Her New Twins Singing ‘Twinkle Twinkle Little Star’The 58-year-old singer shared a video of Stella and Esther Mwale, orphaned 4½-year-old twin girls who Madonna announced she adopted from Malawi earlier this month, performing a passionate rendition of “Twinkle Twinkle Little Star” on Saturday. Dressed in matching striped pajamas and polka-dotted socks, the twins sing and clap along to the classic nursery rhyme while a woman plays the tune on the piano.

So why is the Scandinavian nation finding it necessary to make cuts to its fabled welfare programs? Driving the new government’s push is a desire to finance a major round of income tax cuts.

"We want to promote a society in which it is easier to support yourself and your family before you hand over a large share of your income to fund the costs of society," the government of Prime Minister Lars Lokke Rasmussen wrote in its manifesto.

It’s all part of a Danish drift toward the political right heralded at the start of the millennium by another Liberal Party premier named Rasmussen, Anders Fogh. The push to reduce levies in one of the most taxed societies in the world received new impetus in November, when two free-market groups joined the Liberals’ minority government.

Broad tax breaks in B.C. pre-election budget

  Broad tax breaks in B.C. pre-election budget British Columbia's government is staking its re-election on a nearly $1 billion cut in medical service premiums, a small business tax reduction and carefully targeted spending increases.Finance Minister Mike de Jong said Tuesday the government will move to eliminate unpopular medical service plan premiums, starting with a 50-per-cent cut next year that will see a family earning up to $120,000 annually saving up to $900 in 2018.

BC-WELFARE-ICON-NOW-WANTS-PEOPLE-TO-TAKE-CARE-OF-THEMSELVES © Peter Levring BC-WELFARE-ICON-NOW-WANTS-PEOPLE-TO-TAKE-CARE-OF-THEMSELVES Rasmussen hasn’t yet presented any detailed proposals, but much of the preparatory work has already been done. The above chart shows fiscal projections based on last year's plan to cut the top rate of income tax by 5 percentage points and boost the salaries of the lowest earners by an average of 7 percent. On that basis, balancing the budget would have been delayed by five years, with the deficit as a percentage of gross domestic product still at manageable levels.

The original proposal was eventually dropped after becoming a victim of a power struggle between the government and its biggest backer in parliament, the anti-immigration Danish People’s Party. A reconfigured cabinet is now hard at work on a new one, due to be unveiled by the summer.

Generating the resources needed to fund the tax cuts requires higher revenues, lower spending, or a combination of both. The government believes that the best way to achieve its objective is to get more people into the workforce.

Lisa Marie Presley's payments to ex limited to legal fees

  Lisa Marie Presley's payments to ex limited to legal fees LOS ANGELES - Lisa Marie Presley will not have to pay spousal support to her estranged husband while they fight over her assets, but she will have to pay some of his attorney's fees, a judge ruled Wednesday. Los Angeles Superior Court Judge Patrick Cathcart ordered Presley to pay $50,000 to the lawyer representing her estranged husband, Michael Lockwood. It comes days after Presley filed court documents stating she is deeply in debt and their 8-year-old twin daughters are subject to a child welfare case.The order does not affect the couple's children, who are in the care of Presley's mother, Priscilla. No details about the children were discussed in court.

Since Denmark is already close to full employment (the unemployment rate came in at 3.4 percent in December) and attracting more migrant workers is a political no-go area (the government imposed border controls and tightened the rules in the wake of the refugee crisis of 2015), the obvious solution is to encourage more youngsters and the elderly to work.

Reforms introduced by successive governments over the years have already ensured that Denmark’s expensive welfare state is sustainable for years to come, says Torben M. Andersen, a professor of economics at the University of Aarhus and a former government adviser. These include raising the retirement age to 67 years from 65 years by 2025.

BC-WELFARE-ICON-NOW-WANTS-PEOPLE-TO-TAKE-CARE-OF-THEMSELVES © Peter Levring BC-WELFARE-ICON-NOW-WANTS-PEOPLE-TO-TAKE-CARE-OF-THEMSELVES The government now wants to raise the retirement age even further, to 67.5, and get students more quickly into the workforce by increasing the use of loans at the expense of grants.

The opposition has already said it plans to fight any tax cuts amid voters’ concerns over the future of the country’s cherished social model.

“The government has engaged in an ideological crusade away from the Nordic welfare state," said Benny Engelbrecht, the finance spokesman of the Social Democrats, the country's biggest opposition party.

To contact the author of this story: Peter Levring in Kobenhavn at [email protected]

To contact the editor responsible for this story: Nicholas Rigillo at [email protected], Jonas O Bergman

©2017 Bloomberg L.P.

No easy answers: why left-wing economics is not the answer to right-wing populism .
On November 20, less than two weeks after Donald Trump’s upset win, Bernie Sanders strode onto a stage at Boston’s Berklee Performance Center to give the sold-out audience his thoughts on what had gone so disastrously wrong for the Democratic Party. Sanders had a simple answer. YOU

—   Share news in the SOC. Networks

Topical videos:

This is interesting!