Sunday, March 13, 2016

Actually, even rich people would be better off in a social democracy





It's often assumed that rich families have nothing to gain from a social democratic social welfare system. To see if that's actually true, I'm repeating the analysis I did for a median income household for richer households. These are the key tables for a median income family:







Clearly, median income households are much better off in social democracy than in the American social welfare system. Though taxes are much higher in the social democratic system, the enormous out-of-pocket spending American households must spend on social welfare easily outweighs those higher taxes. Once we account for the private, out-of-pocket spending in the American social welfare system, it becomes obvious that the high taxes of the social democratic social welfare system are a very good deal for most families.

However, the same might not be true for rich families. Perhaps rich families can afford high out-of-pocket spending and would actually be financially better off with the high out-of-pocket spending and low taxes of the American social welfare system.

To find out, let's repeat this analysis using the exact same methods as median income, but for a rich household. We'll do the analysis for a household at exactly the 90th percentile for income. If over 90% of Americans would be better off under social democracy, that should be pretty convincing.



The 90th percentile begins at approximately $114,000 annual income; we're again assuming a two-earner family (with income from wages, rather than capital gains). And for estimations of tax rates, I'm still using Citizens for Tax Justice estimates for 2015 (for the richest 10%, or the "Next 10%"). Because we're assuming a 2-earner family, we don't need to worry about reaching the point where Social Security taxes are no longer collected. The state and local taxes cell uses data from the same Citizens for Tax Justice estimates.

As in the median income analysis, for the retirement cells I'm using the estimates from the Center for Retirement Research at Boston College. According to their calculations, a high earning household needs to replace 67% of their working income in order to maintain a comparable standard of living in retirement. To reach this goal, they can rely on Social Security benefits once they retire, plus savings equal to 16% of their income (see the bottom of the page for replacement rates analysis for retirement savings). A richer family actually has to save a higher percentage of their income than a median income family because Social Security replaces a lower percentage of wages for those at higher incomes.

Otherwise, I'm using the same sources as on the median income page, just with a different household income--refer to the median income page for any relevant links. Plugging in these numbers:





For the social democracy side on the first graph (the blue 50%), I explained in the median income post how 50% taxes is a reasonable ceiling estimate for taxes for richer households. Again, single parent families would pay a lower rate and single individuals without children would pay slightly higher.

For a more precise comparison, let's try to get an estimate of what a high income household would spend on consumption taxes (the blue 12% in the social democracy column). Again, the 12% consumption tax is as a percentage of household expenditures:
household gross labor costs > household income > household expenditures
Furthermore, higher income households usually spend a lower percentage of their income than other households. Because less of their income is spent on consumption, correspondingly less of their income goes to consumption taxes. A typical family American at of the top quintile saves about a quarter of their income:



If we assume a 23.6% savings rate, then only the remaining 76.4% of income (not gross labor costs) is subject to consumption taxes. With the 12% consumption tax rate and 23.6% savings rate, this comes out to an additional 9.6% of gross labor costs spent on consumption taxes.

Note what a fantastically bad deal some of these cells are for the American side. Even at the 90th percentile, employer-sponsored health insurance still consumes 13.3% of household gross labor costs.

Here is the table tallying additional social welfare costs for this family--in dollar amount, percentage of household income, and percentage of household gross labor costs. Aside from income/labor costs, there are two differences from the corresponding table for a median income family. Instead of student loans I've substituted annual tuition for in-state college. According to College Board surveys, average annual in-state tuition is $9,410 ($23,893 for out-of-state and $32,405 for private). I'm assuming that a household at the 90th percentile doesn't owe student loans but might instead be worrying about sending a child to college. Second, I've also reduced extended leave to 65% wage replacement since this benefit does have lower wage replacement rates at higher incomes. Here's the table:



The same issues of service quality affect this rich family as they did the median income family, and I don't need to repeat this here. In particular, however, the rich family has even more to lose if someone in their family is grievously injured and requires long term care services--they have much further to fall to meet the income and asset tests. The same high risks of the American health insurance and retirement systems also affect this family, though with higher income they are obviously in a better position to deal with these risks.

Clearly, out-of-pocket social welfare costs in the American social welfare system (except for long term care) are more manageable for this family--whether day care, health insurance cost-sharing, etc. With higher incomes, they are also better able to manage the risk of the American private health insurance and retirement systems. Nevertheless, they are clearly better off under the social democratic model: if the United States suddenly became a social democracy, this family would pay less of their income in taxes and social welfare, yet have access to more high quality benefits and services; they would also have far greater security in the social democratic model.

The low service quality and high risks of the American social welfare system really are extraordinary; it's worth your time to read again about these risks on the median income page. Even a rich family should worry about these enormous risks, which don't exist in the social democratic model.

Conclusion
In sum, it's quite a stretch to argue that even a rich family--one richer than 90% of the rest of society--would be better off in the United States. I've expressed consumption taxes as 12% of expenditures, and it's fair to estimate this at 9.6% of gross labor costs based on the spending habits of the top quintile in the United States. If so, that brings the social democracy column to 59.6% taxes and social welfare spending as a percentage of gross labor costs, versus 58.9% for the United States--basically identical. In other words, the cost of each welfare state to this hypothetical high income family is almost identical.

However, if we start considering other pieces of the American social welfare state, the social welfare spending of rich families in the United States rapidly overtakes that of the social democracies. Even without a major health condition, a rich family can expect to spend out-of-pocket money on health care costs--copays, deductibles, uncovered medical services, etc--and this alone makes the social democratic model cost less for them. If this family has child in need of day care, a child about to go to college, or student loans to worry about, the social democratic model is far less expensive to them. And though this family is richer than 90% of the rest of the country, the mammoth risks the American retirement, health care, and long term care systems make them far better off in the social democratic system. Finally, this family would certainly benefit from being offered paid leave benefits--for example, sharing a year of paid parental leave following the birth of a child, paid extended sick leave if one of them was temporarily too sick to work, or paid family leave to care for an ailing family member. Clearly, the social democratic model is far better even for a family at the 90th percentile for income.

Tying this all together, we would have to make some pretty unrealistic assumptions about this family for the American system to look like a good deal--because again, the overall cost of both systems to this family is nearly identical. We would have to assume this family never has any children and thus would never benefit from paid parental leave or need day care services. We need to assume that everyone in this household is orphans and thus would never need to take any family leave to take care of an ailing elderly relative. We would need to assume that nobody would ever get sick so they would never have to worry about health insurance cost-sharing. We need to assume that no one ever becomes temporarily too sick to work (like following a major surgery) and needs paid extended sick leave, and that no one ever becomes disabled and needs long term care. We would also have to assume that no one in this high income family ever went to college and thus has student loans to pay back (we've already assumed they are orphans and so have no relatives who paid their tuition for them), and that no one in this household will ever be interested in one day going to college. Because for the exact same price, all of these things are provided by a social democratic welfare system.

But there's more. We would also have to assume that they only choose stocks in their 401(k) that equal or better the historical returns of the stock market, that they own their own home and they live in a place where the price of their house rises equal or better to historical trends, and that inflation doesn't rise. And we have to assume that nobody in this household loses their job and they fall to a lower income level (where they would surely be better off in the social democratic model). These factors--healthy stock market returns, ever-rising home prices, low inflation, no recessions--are completely out of their control. For the exact same price, this family does not have to worry about these things in the social democratic model.

Clearly, even rich families (defined here as at exactly the 90th percentile for income) are better off in social democracy. In other words, over 90% of Americans would be better of in a social democratic social welfare state.


The technical details on retirement system replacement ratesI've used all the same sources of information for this page as the median income page, and don't need to paste those links here. Refer to the median income page to see where these numbers are coming from.

The rest of this post will examine wage replacement rates for the retirement systems.

The estimates for a high earner family from the Center for Retirement Research calculations hold that--if everything follows historical trends--16% savings rate during their working years will bring this family 67% wage replacement in retirement. Again, this is a sum of Social Security benefits and their individual savings for retirement.

How does this compare to the pensions of the social democracies? The OECD ran simulations of wage replacements according to public or compulsory private pensions (social democracies, high earners, marked with red box):


For high income households, the range is a low of 38.9% wage replacement in Norway to 73.1% in Sweden, with an average of 58.2%. Clearly, there can be a wide range of wage replacements depending on the particular benefits and contribution structures of the pensions. If we threw out Norway (because it is clearly an outlier; 16.2 percentage points separate Norway from the second lowest, Denmark, whereas just 5 percentage points separate the second highest, Iceland, from the highest, Sweden), we get an average of 63.0% wage replacement--basically equal to the estimations of the Center for Retirement Research.

But--as discussed in the median income post--the American retirement system exposes retirees to extraordinary risks that the social democracies do not. I don't need to repeat this here, but keep in mind that the wage replacements of social democratic retirement systems are guaranteed; American system is not. The American retirement system exposes individual would-be retirees to extraordinary risks of retiring into poverty.

16 comments:

  1. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

    BORROWERS APPLICATION DETAILS


    1. Name Of Applicant in Full:……..
    2. Telephone Numbers:……….
    3. Address and Location:…….
    4. Amount in request………..
    5. Repayment Period:………..
    6. Purpose Of Loan………….
    7. country…………………
    8. phone…………………..
    9. occupation………………
    10.age/sex…………………
    11.Monthly Income…………..
    12.Email……………..

    Regards.
    Managements
    Email Kindly Contact: urgentloan22@gmail.com

    ReplyDelete
    Replies

    1. =======================================
      33a11b298Here are best materials for you!
      John Smith Mar 23, 2018 at 8:36 PM
      LEARN HOW TO BECOME MILLIONAIRE ONLINE
      This is one of best online course about how to become millionaire online.
      It is difficult to become a millionaire, so perhaps this course is only rated 4.4*.
      Source: How to become millionaire online in one year




      Jennifer Lee Mar 21, 2018 at 7:36 PM
      LEARN FREE HOW TO MAKE MONEY ONLINE BY AFFILIATE MARKETING
      This is a free course by Affilorama, the leading internet marketing academy, rated 4.7 * by 87k+ students.
      source: Free training affiliate marketing online





      Juan Carlos Mar 27, 2018 at 8:36 PM
      12 SECRETS TO GET ANY GIRL TO LIKE YOU
      This is one of top secrets that help you get any girl to like you.
      Rated 4.7* by 5600+ students.
      Link: 12 secrets to get any girl to like you





      Mike Jones Mar 29, 2018 at 9:36 PM
      LEARN FREE PIANO ONLINE:
      This course is organized by LearnPianoIn30Days. This site offer 14 days free training for only $1.
      More details: $1 Trial to learn piano in 14 days




      David Smith April 1, 2018 at 10:36 PM
      13 SECRETS TO CAPTIVATE ANY MAN:
      This is one of top secrets that help you get any girl to like you.
      Rated 4.7* by 5600+ students.
      Link: 13 secrets to captivate any man





      Emma Emily April 2, 2018 at 10:36 PM
      LEARN FREE GUITAR ONLINE:
      This course is organized by Play Worship Guitar. This site offer 21 days free training for only $1.
      More details: Trial 1$ learn guitar online in 21 days





      Peter Ho April 3, 2018 at 14:36 PM
      12 SECRETS TO BECOME FAMOUS MAGICIAN?
      This is best course online about how to become a magician!
      This training course offer free trial and 60 days money back guarantee
      Link: Trial to Learn Mentalism Effects and Magic Tricks




      Jennifer Tran April 3, 2018 at 19:36 PM
      HOW TO LOSE 1 POUND OF BELLY FAT EVERY 72 HOURS?
      yes it can. Bruce Krahn and Dr. Heinrick created this program specifically for men and woman.
      The core of the program is a formula by Heinrick that is supposed to work well against belly fat and its associated health issues
      Here are link: Link: Secrets to lose 1 pound of belly fat every 72 hours




      Brittany Jones April 3, 2018 at 19:36 PM
      HOW TO SELF-DEFENSE WITHOUT ANY MARTIAL ARTS TRAINING?
      yes it can. Real self-defense system, designed By Swat Team Leader, even without any martial arts training.
      Here are link: Link: 8 secrets for self-defense without any martial arts training




      Penny Albritton April 3, 2018 at 19:36 PM
      GET YOUR SEXIESTBODY EVER BY YOGA?
      Here are link: Link: 9 secrets to get your sexiest body ever by yoga

      Delete
    2. BEST AVAILABLE WAY TO FINANCIAL FREEDOM {upstoxfunding@yahoo.com}
      Are you looking for financial freedom? Are you in debt, you need a loan to start a new business? Or you collapse financially, do you need a loan to buy a car or a house? Have you ever been rejected by your bank in ever finance? You want to improve your financial? You need a loan to pay off your bills pay off? No more looking, we welcome you for an opportunity to get all types of loans at a very affordable 3% interest rate for others. For information, contact us now by email at: {upstoxfunding@yahoo.com}

      Do you have a bad credit? Do you need money to pay bills? Is it necessary to start a new business? Do you have an unfinished project due to poor funding? Do you need money to invest in any specialty that will benefit you? And you do not know what to do. We offer the following loans;both Personal loans [secure and unsecured], Business loans [secure and unsecured] ,combination loans ,Student loans,Consolidation loans and so many others.

      Company name: UPSTOX FUNDING
      Company Email: upstoxfunding@yahoo.com
      Text/Call :(302) 273-5794.

      Delete
    3. PLEASE READ!!!! Hello Guys,This is a Life Time transformation !!!Am so happy I got mine from Elizabeth. My blank ATM card can withdraw $2,000 daily. I got it from Her last week and now I have $8,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it, it is not traceable and now i have money for business and enough money for me and my family to live on .I am really happy i met Elizabeth because i met two people before her and they took my money not knowing that they were scams. But am happy now. Elizabeth sent the card through DHL and i got it in two days. Get your own card from her now she is not like other scammer pretending to have the ATM card,She is giving it out for free to help people even if it is illegal but it helps a lot and no one ever gets caught. im grateful to Elizabeth because she changed my story all of a sudden . The card works in all countries except Philippines, Mali and Nigeria. Elizabeth's email address is elizabethcole232@yahoo.com

      Delete
    4. PLEASE READ!!!! Hello Guys,This is a Life Time transformation !!!Am so happy I got mine from Elizabeth. My blank ATM card can withdraw $2,000 daily. I got it from Her last week and now I have $8,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it, it is not traceable and now i have money for business and enough money for me and my family to live on .I am really happy i met Elizabeth because i met two people before her and they took my money not knowing that they were scams. But am happy now. Elizabeth sent the card through DHL and i got it in two days. Get your own card from her now she is not like other scammer pretending to have the ATM card,She is giving it out for free to help people even if it is illegal but it helps a lot and no one ever gets caught. im grateful to Elizabeth because she changed my story all of a sudden . The card works in all countries except Philippines, Mali and Nigeria. Elizabeth's email address is elizabethcole232@yahoo.com

      Delete
  2. Mrs Wilecia BerbanaNovember 15, 2017 at 7:21 AM

    What an incredible story in my life, I am Mrs Wilecia Berbana ,currently living in New York City, USA. I am a widow at the moment with three kids and i was stuck in a financial situation. Last two months i needed to refinance and pay my bills and some others serious debt. I was looking for a loan of $ 650,000.00 USD then I apply for a loan in one of the on-line loan company where i was scam about $3,800,00 usd in lending in the UK, but when I put the complain my good friend told me that the only place to get a loan on-line is CONSUMER LOAN FIRM the company is 100% guarantee that if I apply in a business loan I am to get the loan without any delay in the transaction, so i did, with a great fear in my heart not to loose money for the second time. My brothers and sister i want to let you know that there are still good people in the world we can trust and have faith on. With the advice of my friend in which I ask the company for a loan last week and to my greatest surprise i just got my loan yesterday. My hope and trust was all gone but now i new there are real loan firm we can trust. Am using this opportunity to inform you all that if you are in need of a loan, do not go else where so sick for a loan. i have found a real loan lender that can help you because he told me that the success of the societies is his pride i want you to sick for a loan in CONSUMER LOAN FIRM. Here are the company email: consumerloanfirm@gmail.com And i promise you that your life will never remain the same again, I will be waiting to hear your own testimony. Mrs Wilecia Berbana

    ReplyDelete
    Replies
    1. PLEASE READ!!!! Hello Guys,This is a Life Time transformation !!!Am so happy I got mine from Elizabeth. My blank ATM card can withdraw $2,000 daily. I got it from Her last week and now I have $8,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it, it is not traceable and now i have money for business and enough money for me and my family to live on .I am really happy i met Elizabeth because i met two people before her and they took my money not knowing that they were scams. But am happy now. Elizabeth sent the card through DHL and i got it in two days. Get your own card from her now she is not like other scammer pretending to have the ATM card,She is giving it out for free to help people even if it is illegal but it helps a lot and no one ever gets caught. im grateful to Elizabeth because she changed my story all of a sudden . The card works in all countries except Philippines, Mali and Nigeria. Elizabeth's email address is elizabethcole232@yahoo.com

      Delete
  3. FINANCIAL RESTORATION THROUGH THE HELP OF JASON RAYMOND OF FUNDING CIRCLE INC: (fundingcapitalplc@gmail.com OR Call/Text +14067326622)..

    I'm Nathan Davidson a businessman who was able to revive his dying business through the help of a Godsent lender known as Jason Raymond the CEO of FUNDING CIRCLE INC. Am resident at 1542 Main St, Buffalo, NY.. Well are you trying to start a business, settle your debt, expand your existing one, need money to purchase supplies. Have you been having problem trying to secure a Good Credit Facility, I want you to know that FUNDING CIRCLE INC. is the right place for you to resolve all your financial problem because am a living testimony and i can't just keep this to myself when others are looking for a way to be financially lifted.. I want you all to contact this Godsent lender using the details as stated in other to be a partaker of this great opportunity Email: fundingcapitalplc@gmail.com OR Call/Text +14067326622



    ReplyDelete
    Replies
    1. PLEASE READ!!!! Hello Guys,This is a Life Time transformation !!!Am so happy I got mine from Elizabeth. My blank ATM card can withdraw $2,000 daily. I got it from Her last week and now I have $8,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it, it is not traceable and now i have money for business and enough money for me and my family to live on .I am really happy i met Elizabeth because i met two people before her and they took my money not knowing that they were scams. But am happy now. Elizabeth sent the card through DHL and i got it in two days. Get your own card from her now she is not like other scammer pretending to have the ATM card,She is giving it out for free to help people even if it is illegal but it helps a lot and no one ever gets caught. im grateful to Elizabeth because she changed my story all of a sudden . The card works in all countries except Philippines, Mali and Nigeria. Elizabeth's email address is elizabethcole232@yahoo.com

      Delete
  4. GET RICH WITH BLANK ATM CARD
    i'm here to testify about MR CLIFFORD blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job.I saw so many testimony about how CLIFFORD send them the ATM blank card and use it to collect money in any ATM machine and become rich. I email her also and he sent me the blank card. I have use it to get 80,000 dollars. withdraw the maximum of $10,000 daily. CLIFFORD is giving out the card just to help the poor. Hack and take money directly from any ATM Machine Vault with the use of ATM Programmed Card which runs in automatic mode. email (cliffordhackerspays@gmail.com.) on how to get it. He will gives out the card to anybody email CLIFFORD today and become rich cliffordhackerspays@gmail.com

    ReplyDelete
  5. ALL THANKS TO UPSTART LOAN AM NOW FINANCIALLY STABLE . upstartloan@yahoo.com ::::
    I am Michelle Huxford from Casper, Wyoming. I was in a very chronic financial issue and terminal health situation some few weeks back. After all my search for assistance from friends and neighbors proved abortive, I feel there was no one who truly cares. I became so emaciated due to lack of good food and my 2 kids age 5 and 8 were not also good looking due to lack of proper care as a result of finance. One faithful morning I saw an old time friend of my late husband and I told him all I have been going through and he said the only way he could help was to direct me to a good loan agency that also helped him, He explained to me on how he was financially down and how he got boosted by this loan agency UPSTART LOAN INC ( upstartloan@yahoo.com ) who grant him 245,000 USD loan at an affordable rate. He further assured me that they were the only legit loan firm he found in the quest of seeking for loan after been scammed by various fake loan lenders online. He gave me their email: upstartloan@yahoo.com or text/call (574) 301-1639, That was how i applied and was also granted a loan and my life changed for the good. CONTACT THE ONLY GENUINE LENDERS( UPSTART LOAN INC) VIA email: upstartloan@yahoo.com or call +1 (574) 301-1639 to resolve your financial mess.

    ReplyDelete
  6. We specialized in Bank Guarantee {BG}, Standby Letter of Credit {SBLC}, Medium Term Notes {MTN}, Confirmable Bank Draft {CBD} as well as other financial instruments issued from AAA Rated bank such as HSBC Bank Hong Kong, HSBC Bank London, Deutsche Bank AG Frankfurt, Barclays Bank , Standard Chartered Bank and others on lease at the lowest available rates depending on the face value of the instrument needed.

    We deliver with time and precision as sethforth in the agreement. Our terms and Conditions are reasonable, below is our instrument description.

    The procedure is very simple; the instrument will be reserved on euro clear to be verified by your bank, after verification an arrangement will be made for necessary bank documents and stock testing expenses, the cost of the Bank Guarantee will be paid after the delivery of the MT760.

    DESCRIPTION OF INSTRUMENT:
    Instrument: Bank Guarantee (BG/SBLC).
    Total Face Value: Minimum of 1M Eur/USD (One Million Eur/USD) to Maximum of 5B Euro/USD(Five Billion Eur/USD).
    Issuing Bank: HSBC London, Barclays Bank, Deutsche Bank Frankfurt, Hong Kong, Any AA rated Bank in Europe or any Top 25 WEB.
    Age: One Year, One Day
    Leasing Price: 4% of Face Value plus 1% commission fees to brokers.
    Delivery: Bank to Bank SWIFT.
    Payment: MT-760.
    Hard Copy: Bonded Courier within 7 banking days.

    All relevant business information will be provided upon request plus our terms and
    procedures.

    Contact name: David Verney

    Email : davidverney18@gmail.com

    skype davidverney18@gmail.com

    ReplyDelete
  7. We are able to finance your signatory
    projects and help you enhance your
    business plan. Furthermore, our
    financial instrument can be used for
    the purchase of goods from any
    manufacturer irrespective of their
    location. It can also serve as
    collateral with any bank in the world
    to secure loans for your project or to
    activate credit line to finance your
    business plan. We have {BG}, Standby
    Letter of Credit {SBLC}, Medium Term
    Notes {MTN}, Confirmable Bank Draft
    {CBD} as well as other financial
    instruments issued from AAA Rated bank
    such as HSBC Bank Hong Kong, HSBC Bank
    London, Deutsche Bank AG Frankfurt,
    Barclays Bank , Standard Chartered Bank
    and others on lease at the lowest
    available rates depending on the face
    value of the instrument needed.


    Email : nat.mandate18@gmail.com
    Skype : nat.mandate18@gmail.com


    Regards
    Nat

    ReplyDelete
  8. Excellent and professional investigative services. I hired Mr Frank for a very private and difficult matter of hacking my husband's phone, and he far exceeded my expectations. He helped me get the info(whatsapp, facebook, text messages, call logs etc) I needed faster and cheaper than I had imagined. The first time we spoke, we had a very long phone consultation in which he gave me all my options that he could think of to resolve my case, and he even recommended I try other options before hiring him, which shows that he is honest. I decided to hire him and I am glad I did. He is a fantastic investigator and a great person and if you have a dishonest partner don't hesitate to send him a mail Contact: frankthegreathacker at g mail dot com. Eva Tito REFERRED YOU

    ReplyDelete
  9. Do you need Personal Loan?
    Business Cash Loan?
    Unsecured Loan
    Fast and Simple Loan?
    Quick Application Process?
    Approvals within 24-72 Hours?
    No Hidden Fees Loan?
    Funding in less than 1 Week?
    Get unsecured working capital?
    Email us:urgentloan22@gmail.com
    Application Form:
    =================
    Full Name:................
    Loan Amount Needed:.
    Purpose of loan:.......
    Loan Duration:..
    Gender:.............
    Marital status:....
    Location:..........
    Home Address:..
    City:............
    Country:......
    Phone:..........
    Mobile / Cell:....
    Occupation:......
    Monthly Income:....
    Email us (urgentloan22@gmail.com)

    ReplyDelete
  10. We are direct mandate to providers and facilitators of all types of Bank Guarantee (BG), SBLC for Lease and Purchase. We engage in MTN, PPP programs, MT109, MT799, MT760, Loans, Sale and Lease of Financial Instruments. In addition we have a
    track record of 100% deliverance rate with the best workable procedures in the Financial Instruments industry. Our providers are very reliable and ready to transact.


    We have an excellent relationship with top rated banks in both Europe and Asia, Stock brokers and financial institutions all over the world. Within a short and transparent transaction period we can provide the SBLC/BG for your Heavy/Light project funding.

    We look forward to your cooperation as we establish a successful business relationship. Anticipating your inquiry

    Email: tekstructuredfinanceltd@gmail. com
    Skype: tekstructuredfinanceltd

    Regards
    David Thomas
    TEK STRUCTURED FINANCE LTD
    BROKERS ARE WELCOME

    ReplyDelete