Argentina passes new tax on the rich; opposition claims it will further deter foreign investment

Tuesday, December 8th 2020 - 08:54 UTC

Full article 5 comments

Argentina has passed a new wealth tax to help the government pay for health supplies and economic relief measures amid the ongoing coronavirus pandemic. Lawmakers in the Senate passed the bill, dubbed the “millionaire’s tax,” by 42 votes to 26 late on Friday. Read full article

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HansF
Like in “planet of the apes” (1968 movie), talented and productive Argentines are being enslaved by a perpetual political elite whose only big new idea is to further raise taxes.

I foresee a great future for Uruguay, as Argentine companies and Argentine entrepreneurs are fleeing there, taking their ideas, capital and investments with them.
Dec 08th, 2020 - 11:07 pm - Link - Report abuse 0
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hurricane
11,000 people are going to carry a nation to prosperity. Solve all of it's problems. Of the proceeds raised by the levy, allegedly 20% would go toward medical supplies, 20% would go to small and medium-sized companies, 15% to social developments, 20% to student scholarships and 25% to natural gas ventures. A syringe will never be bought, a small business will never get enough money to buy a piece of toast, and social developments ?? please, student scholarships ( I thought college was free ) and natural gas developments ???? whatever that means. You can't fix stupid so perpetuate it with a good old fashion TAX.
Dec 09th, 2020 - 03:02 am - Link - Report abuse +1
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Chicureo
And people seem mystified why rich Argentines offshore their earnings and assets...

The REAL national sport of Argentina is avoiding paying taxes.

The passion of Argentine politicians is divert public taxes into their pockets.

In the end — the middle class gets screwed and why the Argentine government avoids paying their national debt with a continuous maveloent habit.
Dec 09th, 2020 - 09:18 pm - Link - Report abuse 0
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Think
TWIMC...
UK's next in line..., I reckon...
https://warwick.ac.uk/fac/soc/economics/research/centres/cage/news/09-12-20-should_the_uk_have_a_wealth_tax_the_wealth_tax_commission_publishes_its_recommendations
Dec 10th, 2020 - 12:58 am - Link - Report abuse 0
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Chicureo
Chile is also considering the current inequality situation. In the end taxes in my country will be increased, but the middle class will feel the eventual negative economic aftermath.
Dec 10th, 2020 - 06:20 pm - Link - Report abuse 0
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