If it's correct, the minimum income tax bracket was raised so that no one owes income taxes unless their salary is more than $60,500 per year -- which, according to Bloomberg, is "a fraction of the workforce" in that country.
So not "abolished" entirely but since the majority of taxpayers won't have to pay, it's fair say it was abolished "for them" -- and "for now."
Also from the article:
[The government] is attempting to recoup lost electoral ground by spending heavily. [They are] giving millions of informal workers handouts, increasing social security paychecks and upping salaries for public sector employees.
Sounds just like desperate politics. Cancel taxes, give everyone free money, and let the next guy in line deal with the consequences.
Breaking news: Argentina opts to drop an administratively burdensome method of tax that is showing diminishing returns in favour of the easier way to tax their citizens
so no more roads and firefighters for argentina?
The roads are already terrible, the mind reels.
I found this bloomberg article helpful: https://archive.ph/WnSNL
If it's correct, the minimum income tax bracket was raised so that no one owes income taxes unless their salary is more than $60,500 per year -- which, according to Bloomberg, is "a fraction of the workforce" in that country.
So not "abolished" entirely but since the majority of taxpayers won't have to pay, it's fair say it was abolished "for them" -- and "for now."
Also from the article:
Sounds just like desperate politics. Cancel taxes, give everyone free money, and let the next guy in line deal with the consequences.
This is fake news. Tax wasn't abolished, merely updated at the expense of more printing.
Yea, seems a marketing headline, the tax still exist, just rise the amount you need to reach to pay it.
Interesting timing Peter McCormack just released a video about Argentina - #284680
Breaking news: Argentina opts to drop an administratively burdensome method of tax that is showing diminishing returns in favour of the easier way to tax their citizens
CBDCs and more inflation tax incoming
Need to see how it plays out first Jimmy
This will make it a Bitcoin haven
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