What's Going On By The Congress Now?

[julian63]

Simple: they had an automatic rise of [minimum] 14% per year of the pention and now is about 5%. If you have inflation over 20% it is a serious issue.

Is 5% the new minimum or is it the maximum too? Has the maximum increase been altered as well as the minimum? Is that the only way pension law has been altered? The link to La Nacion above seemed to be quite detailed, but as it was in Spanish, I could not comprehend it. It did seem to be more complicated than simply lowering the minimum possible annual increase.
p.s. If you have inflation of 4%, then an increase of 5% seems pretty good.
p.p.s. While I don't pretend to have much knowledge of the details of the pension reform bill or the current economic issues in general, it is my understanding that the pensions of privileged persons (judges, congresspersons) have not been affected. If true, that strikes me as bad.
p.p.p.s, The tax reform of Macri heretofore did not seem to generate much opposition. Has he been slashing taxes on the wealthy in a way that will hurt the middle classes? How so?

 

[semigoodlookin]

Simple: they had an automatic rise of [minimum] 14% per year of the pention and now is about 5%. If you have inflation over 20% it is a serious issue.

Is this correct? I thought the law allowed the 5% over inflation each year, in other words removing inflation from the equation? Also, why were they getting a 14% (or more) increase each year?

 

[ben]

Great article.

https://panampost.com/marcelo-duclos/2017/12/19/day-of-fury-in-buenos-aires/

 

[MikeB12]

Simple: they had an automatic rise of [minimum] 14% per year of the pention and now is about 5%. If you have inflation over 20% it is a serious issue.

14% even seems low considering the 30% + annual inflation over the past decade.

 

[MikeB12]

He was left with no deficit.
Deficit began when you cut 100% taxes to mining (gold and lithium) and cut taxes to soy. Then he also cut taxes to employers (that are used to finance pentions). And meanwhile he took over 100 billion usd in loans to cover the deficit and the capital flight.

The tax self pardon also was a disaster for finances.

Is this true? I honestly don't know. I found this on Reuters though -

"He has also pledged to trim the country’s fiscal deficit, which ballooned under Fernandez because of generous spending on social programs. But cuts to the deficit in the government’s 2017 budget were more modest than previously announced."

https://www.reuters.com/article/argentina-economy/argentina-foreign-reserves-hit-40-bln-for-first-time-since-april-2013-idUSL1N1CQ2CI

 

[gracielle]

Awesome[background=rgb(252, 252, 252)] Possum - It is not true. The Reuters article is good. The 2 articles below show actual figures.[/background]

[background=rgb(252, 252, 252)]It appears that Bajo_cero2 posted an erroneous attestation......[/background]He was left with no deficit.

http://www.ambito.co...291000-millones
OFFICIAL DATA Thursday, March 10, 2016
The primary fiscal deficit soared 73.2% in 2015 to $ 291,000 million....


Originally printed on March 14, 2016.
https://www.infobae....ficit-que-2001/
Argentina ended 2015 with a greater deficit than in 2001. The treasury exhibited the highest red of the last twenty years (4.1% of GDP), according to a private study center. It is even very high compared to other countries that are in fiscal crisis such as, for example, Greece (3.7%), Spain (3.4%) or Italy (3.7%).

The fiscal deficit reached $ 291,660 million in 2015 (5.4% of GDP), which implies an increase of 73% with respect to 2014, according to the Palace of Finance yesterday. While the fiscal result -without rents- of January last was a red of $ 548 million, this is a reduction of more than 90% year-on-year (revenues increased 29.7% and expenses 22.6%)......

 

[julian63]

Awesome[background=rgb(252, 252, 252)] Possum - It is not true. The Reuters article is good. The 2 articles below show actual figures.[/background]

[background=rgb(252, 252, 252)]It appears that Bajo_cero2 posted an erroneous attestation......[/background]He was left with no deficit.

http://www.ambito.co...291000-millones
OFFICIAL DATA Thursday, March 10, 2016
The primary fiscal deficit soared 73.2% in 2015 to $ 291,000 million....


Originally printed on March 14, 2016.
https://www.infobae....ficit-que-2001/
Argentina ended 2015 with a greater deficit than in 2001. The treasury exhibited the highest red of the last twenty years (4.1% of GDP), according to a private study center. It is even very high compared to other countries that are in fiscal crisis such as, for example, Greece (3.7%), Spain (3.4%) or Italy (3.7%).

The fiscal deficit reached $ 291,660 million in 2015 (5.4% of GDP), which implies an increase of 73% with respect to 2014, according to the Palace of Finance yesterday. While the fiscal result -without rents- of January last was a red of $ 548 million, this is a reduction of more than 90% year-on-year (revenues increased 29.7% and expenses 22.6%)......

My mind is made up. Don't confuse me with the facts.

 

[London2Baires]

Hi all,

The use of the word thug in a racialized demeaning and discriminatory sense seems to be a predominantly USA usage.

These forums have English speakers from the UK, Australia, New Zealand, Canada, South Africa, etc etc.

I know the whole 'thug' issue is a little off topic anyway, so apologies. That said; it is perhaps worth pointing out that a predominantly usa-centric tone has produced more heat than light in some regards.

Just thought I'd point this out...

I hope you are all well,

Happy Holidays!

 

[ben]

...has produced more heat than light in some regards

Exactly!

 

[Bajo_cero2]

Here is a good explanation:
https://www.google.com.ar/amp/s/amp.tn.com.ar/economia/la-reforma-previsional-es-ley-asi-aumentaran-jubilaciones-auh-y-asignaciones-en-2018_840940