Can Wealthy Tax Help Countries Save Their Economy?

Will Countries Continuously Increase Taxes on Wealth? 

Independently of the outcome, the message is still the same: Plane Now.

Raising revenue is crucial for any economy, especially as the COVID pandemic generated associated long-term spending and deficit.

Brazil is one of the few South American countries that did not enact a wealthy tax.

However, the Brazilian Constitution provides that the federal government can levy a wealth tax.    

Brazilian Congress discussions intensified after increasing in public spending due to COVID, with about 20 proposals currently under discussion. 

The country’s revenue decreased drastically due to the slow of its economic activity. 

If the actual circumstances persist, the alternative would be raising current taxes making a government less popular than enacted a wealthy tax – focusing on a very small proportion of the population.  

Well-advised individuals will continue to find tax-saving strategies to lower their tax exposure legally.