Posted on 01/30/2021 2:31:14 AM PST by Oldeconomybuyer
A one-off tax on Argentina's richest people comes into effect to help pay for medical supplies and relief for businesses struggling due to Covid-19.
Those with assets of more than 200 million pesos ($2.3m; £1.67m) will have to pay about 3% on assets declared within the country and over 5% on assets held abroad.
It will apply to around 12,000 people.
The government hopes to raise around $3bn. The money will also help fund scholarships and social aid.
Oxfam's annual report on economic inequality said Argentina was showing the way towards progressive taxation of the rich as the key to an equitable recovery from the current crisis.
"A tax on the excess profits earned by corporations during the coronavirus pandemic could generate $104 billion - enough to provide unemployment protection for all workers, and financial support for all children and elderly people in the poorest countries," the report stated.
(Excerpt) Read more at bbc.com ...
“Tax on assets” is an extraordinarily incorrect phrase. It is confiscation of wealth and property just because you have it and you have more than people who don’t have it.
Oh, never mind, it’s just a “one off” tax.
> The money will also help fund scholarships and social aid. <
Oh, so it’s a Covid relief tax with lots of extra pork thrown in.
Meaning punishing the wealthy who are already paying most of the funds. While more charity (as regards amounts) is to be expect of the wealthy, this is to be voluntary.
Charge them that are rich in this world, that they be not highminded, nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy; That they do good, that they be rich in good works, ready to distribute, willing to communicate; Laying up in store for themselves a good foundation against the time to come, that they may lay hold on eternal life. (1 Timothy 6:17-19)
Agreed. What if there was some sort of match in tax credits for Charity? wouldn’t that encourage good deeds? Real charity with real tangible goals not fake BLM global network Marxist crap.
It’s not a tax. It’s confiscation of accumulated wealth. Since the American public is so stupid, collectively, this will surely come here too.
If these millionaires vote like ours do what’s the problem? Perhaps they’ll learn something. I’d start here with the billionaires.
“one-off tax”
And another one off next year.
12,000 out of 45,000,000 Argentina citizens are worth 2 million dollars = .00027% of the population. Good luck with that, like the old saying “squeezing blood from a Turnip” Argenazuela here we come!
ONE OF, MY sweet pattootie.
Nothing of this sort is EVER just ONCE...NOTHING...
Argentina already stole all private pensions—savings accounts contents—money market accounts & other funds-—
NOT ONCE-—BUT TWICE, and Argentina is BROKE again.
Pelosi & Obama spoke many times about doing that kind of steal in this country.
Does Hunter earn “excess profits”?
Sounds familiar.
A little pencil-stub calculations: 3 billion divided by 12,000 = 250,000 each. That's not taxation, that's confiscation.
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