National Assembly approves tax hikes, other measures, to cover budget deficit | CuencaHighLifeCuencaHighLife
28 April 2016 Comments Off on National Assembly approves tax hikes, other measures, to cover budget deficit | CuencaHighLifeCuencaHighLife
Ecuador’s National Assembly has passed a tax bill submitted by President Rafael Correa to cover the national budget deficit. The Assembly is also considering a second bill from Correa to cover reconstruction costs from the … Read more
Symo says: Socialism is wonderful… until you run out of other peoples money. “The bill also reduces from $11,170 to $1,098 the amount of cash travelers can take out of the country tax-free” is ludicrous. How the hell are they going to “police” this? For many tourists, leaving the country with over $1,098 is “chump change”. The VAT will go from 12% to 14% (12% is already one of the highest in South America) for a year is doable… I’ll just quit consuming goods and services subject thereto. And the final take away… it doesn’t matter who governs, nor the system governing… it’s all lies, smoke and mirrors.
Earthquake… I was asked how much the EEUU has helped out… here’s a quote from Jeanne’s Periodico, in yesterday’s CuencaHighLife blog…
“The US will send help with a value of $1 million. A plane with 83 tons of supplies has been sent and the US military is working at the Manta airport to set up a temporary mobile control tower. The US Ambassador pointed out it’s difficult to send actual food to Ecuador [inserted by Symo… I bring food all the time to Ecuador in a freaking suitcase], but a contribution of $10 would arrive quickly to the private organizations already working in Pedernales. (Sorry, I have to comment, but I hope this isn’t all the US intends to send. I wonder what the value of what Cuencanos have sent is? Would it be $1 million? That’s only about $2 per person including the rural parishes. China will send $9.2 million and Peru sent 378 tons of stuff including a hospital ship.)”
Maybe the EEUU could find say $1 billion doing what it does best… nothing, and send it to Ecuador. $1 billion is chicken feed to the EEUU. This is how the EEUU is going to fund your future…