Argentina: The Problem Is the State

[Rich One]

On the proposed tax to the super rich with over US$ 2 MM. The creator and main promoter of this proposed Law is Maximo Kirchener with a net worth well over 2 million dollars. That gives him some credibility..?

 

[antipodean]

On the proposed tax to the super rich with over US$ 2 MM. The creator and main promoter of this proposed Law is Maximo Kirchener with a net worth well over 2 million dollars. That gives him some credibility..?

Well it’s dubious a public servant and career politician ever actually worked for such a fortune... easy come, easy go I imagine. You can’t tax black money anyway so bets are Probably hedged.

 

[EL_TIGRE_de_Tigre]

Well it’s dubious a public servant and career politician ever actually worked for such a fortune... easy come, easy go I imagine. You can’t tax black money anyway so bets are Probably hedged.

Actually, you can tax black money ... It is done with a consumption tax at the point of sale.

 

[antipodean]

Actually, you can tax black money ... It is done with a consumption tax at the point of sale.

Good point, but only if they actually spend it here and only if the merchant declares the sale. Without laundering it, it is theoretically hard to spend or invest large amounts in Argentina since you must prove the source of funds for many transactions and register assets (houses, cars, boats, business investments, deposits, shares etc.)

 

[EL_TIGRE_de_Tigre]

Good point, but only if they actually spend it here and only if the merchant declares the sale. Without laundering it, it is theoretically hard to spend or invest large amounts in Argentina since you must prove the source of funds for many transactions and register assets (houses, cars, boats, business investments, deposits, shares etc.)

And you're making a great point as well - good call.

 

[Rich One]

Well it’s dubious a public servant and career politician ever actually worked for such a fortune... easy come, easy go I imagine. You can’t tax black money anyway so bets are Probably hedged.

Not quite Maximo K inherited at least 55 rental properties in Santa Cruz, obtained by .. Among other valuable assets

 

[antipodean]

Not quite Maximo K inherited at least 55 rental properties in Santa Cruz, obtained by .. Among other valuable assets

Inherited all 55 from Papa who was also a lifelong career politician himself from a humble small town family? Whatever Amway scheme that guy signed up for, I want in!

(For reference the Presidential salary in Argentina is AR$326k per month... that is less than US$5000 a month at the official rate... a modest professional salary in most parts of the world where one would struggle to purchase 5 houses over a lifetime of hard labour, let alone 55.)

 

[Rich One]

Inherited all 55 from Papa who was also a lifelong career politician himself from a humble small town family? Whatever Amway scheme that guy signed up for, I want in!

Not quite the 55 properties were snatched by the Law Offices of Kirchener & Kirchener (Nestor and Cristina) she claimed she was a successful lawyer in S.C, ...

 

[Rich One]

Inherited all 55 from Papa who was also a lifelong career politician himself from a humble small town family? Whatever Amway scheme that guy signed up for, I want in!

(For reference the Presidential salary in Argentina is AR$326k per month... that is less than US$5000 a month at the official rate... a modest professional salary in most parts of the world where one would struggle to purchase 5 houses over a lifetime of hard labour, let alone 55.)

The apts and houses purchased were up for FORECLOSURE , long time ago, may not have paid more than 10 or 20 K each

 

[antipodean]

Not quite the 55 properties were snatched by the Law Offices of Kirchener & Kirchener (Nestor and Cristina) she claimed she was a successful lawyer in S.C, ...

Amazing, how many years were they practicing law and building a successful firm before entering into public office in the 80s and after spending the better part of the 60/70s at university? Still sounds like the deal of the century to me and gives hope that capital gains in provincial Argentina is a pretty solid investment. Do you by chance know what Florencia and Cristina also inherited in their own rights?