#Argentina #WealthTax #CovidReliefFund
Argentina Introduces Wealth Tax for Covid Relief
A BBC report this week announced that Argentina has enacted a Corona wealth tax, similar in principal to that proposed by the Workers Party of Britain.
According to the report:
“Argentina has passed a new tax on its wealthiest people to pay for medical supplies and relief measures amid the ongoing coronavirus pandemic.
“Senators passed the one-off levy – dubbed the ‘millionaire’s tax’ – by 42 votes to 26 on Friday.”
Reports from international media noted:
“The lower house of Argentina’s congress on Tuesday began debating a bill seeking to raise 300 billion pesos ($3.75 billion) through a tax on large fortunes to finance programmes aimed at helping families hit by the Covid-19 pandemic.
“People with more than $2.5 million – about 12,000 individuals – would get hit by the 2% flat tax. The levy would increase progressively as equity increases, under the proposal.”

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