Iceland has made it illegal to pay women less than men

 A new law in Iceland has made it illegal to pay women less than men.

Read more: The European Banking News Network - Iceland has made it illegal to pay women less than men

Tax Systems - money is not determinating factor: The happiest countries in the world also pay a lot in taxes

The US Tax System needs an overhaul

The happiest countries in the world in 2017 are prosperous Western-style liberal democracies.

Their populations are, in many cases, largely homogeneous. And they also have something else in common: They each pay a lot in taxes.

According to the United Nations' latest World Happiness Report, as covered by CBS News, the top 10 happiest countries are:
1. Norway
2. Denmark
3. Iceland
4. Switzerland
5. Finland
6. Netherlands
7. Canada
8. New Zealand
9. Australia
10. Sweden

Report co-author Jeffrey Sachs, who is also the director of the Sustainable Development Solutions Network, tells CBS that "happiness is a result of creating strong social foundations," and that if other nations prioritized "social trust" and "healthy lives," they could also find that their citizens become more content.

The top three happiest countries, Norway, Denmark and Iceland, are all among the highest taxed countries in the Organization for Economic Cooperation and Development (OECD), in terms of total tax revenue as a percentage of GDP. The widely enjoyed social benefits residents get in exchange for their taxes, such as universal health care, access to education and subsidized parental leave, could have something to do with the "strong social foundations" touted by Sachs.

Note EU-Digest: These countries are happy, mainly for all the services they are getting in exchange for paying high taxes. Specially in the area of healthcare and low pharmaceutical costs, obviously also by enjoying great infrastructural advantages and obviously modern public transportation systems. In America right-wing politicians (mainly Republicans) have figured out that by telling the taxpayers they pay the lowest taxes in the world, it will make  corrupt practices by them easier. Unfortunately over time this made the US taxpayer the big loser.

Read more: The happiest countries in the world also pay a lot in taxes

Financial Industry: how Iceland deals with "too big to fail" banks :" we shouldn’t lose the banks to the hands of fools”

If Bjarni Benediktsson, Finance Minister has his way, Icelanders will receive kr 30,000 after their government has ownership of the bank. Íslandsbanki will be the second largest bank, of three, under Statero prietorship.

Benediktsson stated, “I am saying that the government take [sic] some decided portion, 5%, and simply hand it over to the people of this country.”

Since the government is under the control of Icelanders, they own the banks.  Bjarni believes that their economy will be fueled by foreign capital that will be brought into the country, which still remains the only European nation that has fully recovered from the 2008 crisis. Iceland was even able to pay its outstanding debt to the IMF before its due date.

Budget Committee vice chairperson, Guðlaugur Þór Þórðarson, explained that this move will ease the lifting of capital controls, even though he’s not entirely sure that State ownership is the ideal solution.

Steingrímur J. Sigfússon, former Finance Minister, agrees with Þórðarson stating in a radio show, “we shouldn’t lose the banks to the hands of fools” and that a shift in focus to separate “commercial banking from investment banking” would benefit Iceland.

Read more: First They Jailed the Bankers, Now Every Icelander to Be Paid in Bank SaleREALfarmacy.com | Healthy News and Information

Iceland: 'Refugees Are Our Best Friends': In Iceland, Communities Campaign To House Syrians, Ease Europe's Migrant Crisis - by Erin Banco

“It breaks my heart to see what's happening and I know I can help, and I will in any way possible,” Magnusdottir said in an interview with IBTimes. “We don't have a lot of money but we have food on our table and water, we have clothes on our backs and a roof over our heads, and we have each other. Some of these people are watching their children and parents die or suffer. I've started to save money as much as we can afford so I can maybe help someone.”

The campaign is part of a concerted effort to see refugees as people -- as individuals with skills to offer their host countries. In an open letter to Iceland's minister of welfare, Bjorgvinsdottir wrote, "Refugees are our future spouses, best friends, our next soul mate, the drummer in our children’s band, our next colleague, Miss Iceland 2022."

Note EU-Digest: This act by Iceland is worthy of many kudos - contrary to the lackluster reaction by many EU states,  who can't, or don't want to get their act together to assist in this human tragedy. Most of us in Europe call ourselves Christians but we seem to have forgotten a basic biblical principle found in 1. John 3:17-18 - "But if anyone has the world's goods and sees his brother in need, yet closes his heart against him, how does God's love abide in him? Little children, let us not love in word or talk but in deed and in truth."  

Read more: 'Refugees Are Our Best Friends': In Iceland, Communities Campaign To House Syrians, Ease Europe's Migrant Crisis