The Week at a Glance

Argentina: Income Tax Populism

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Last week, the government presented a bill to modify the income tax paid by individuals that is a step back from many angles. The central idea is that just over half of the salaried workers who today pay the tax stop doing so. Essentially it would reduce the universe of taxpayers from 2 million to about 750,000 at a cost that the government estimated at ARS 40,000 million, probably something more. In macroeconomic terms this is not a significant amount. We are talking about 0.1% of GDP (it could be something more) that will have to be financed between the provinces and the national state. Nor
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