Argentina is Abolishing Income Tax. Here's Why

Argentina is Abolishing Income Tax. Here's Why | Vantage with Palki Sharma

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Argentina is Abolishing Income Tax. Here's Why | Vantage with Palki Sharma
Argentina's senate has passed a bill that seeks to abolish income tax for most formal sector workers in the country.
The policy was pushed by Argentina's finance minister who is also a candidate in next month's presidential elections.
Can governments ban income tax? What is the income tax landscape in India? Palki Sharma tells you.
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Argentina | Income Tax | Abolishing | Formal Sector Workers | Firstpost | World News | Vantage | Palki Sharma
#argentina #incometax #abolishing #formalsectorworkers #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories - making Vantage a destination for thought-provoking ideas.
Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.

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Пікірлер: 1 600

@Firstpost Жыл бұрын

#Firstpost2Million: Thank you viewers for your trust! Leave a comment and let us know what more would you like to see on the channel.

@shaktimaan1064 Жыл бұрын

Are baba it’s simple common sense that overall quality of life will always be better in developed countries than that of in developing countries. And there are always pull factors in developed regions and push factors in developing or underdeveloped regions be it immigration from developing to developed countries or migration from under developed states to developed states within a country. So that’s not a point of debate when everyone is agreed. Here some social media heroes it seems to be after the propaganda of portraying The so called high tax as only reason to leave India. I am completely against and protest against such propaganda. As far as high indirect tax is concerned, I would request foreign lovers to compare the overall taxation versus GDP in developed countries versus India before adopting some strong attitude based on factual incorrectness or misplaced idea. As far as tax on luxury is concerned, it is always taxed heavily in all the countries. In developed countries, most of the people pay tax even if it is higher then India’s tax slab .whereas in India, only 2% of people pay tax. We also have to investigate where these people going after leaving India. Most of them are going to high tax economies then tax is certainly not the reason. But it seems antinational elements R deliberately linking tax regime with incidents of high immigration out of India so that Indian state can be weaken. Let’s not get trapped into such conspiracies and pay tax honestly. I would like you to make video against the anti-tax mindset and anti-national propaganda to link migration with taxation.

@robingupta18 Жыл бұрын

@@shaktimaan1064This is not propoganda, this is truth. May be you don't understand but others are.

@ishmaelpierre773 Жыл бұрын

@@shaktimaan1064⁸⁸

@SH-ji5fk Жыл бұрын

Don't agree with you. 13 crores people were removed from poverty. Govt cannot keep printing notes and remove tax. Taxes will gradually reduce in India once poor and neo middle class get empowered and earn sufficiently.

@ItsMyLifeAsh Жыл бұрын

Do u dare to ask indian govt when they will abolish tax ?? Or atleast reduce the income tax ?

@sriharsha8062 Жыл бұрын

I think in india a reward system should come to play . Like those who pay income tax could get house loan car loan at low interest. Taxes on vehicles etc could be reduced for tax payers. It could incentivise tax payers and also encourage others to get into the fold

@links3711 Жыл бұрын

Interesting idea. Should be tried

@ashwithullal Жыл бұрын

yes, privileges in railway booking and some preference in govt undertaking should be encouraging. Yes, I know article 14 will come into the picture now.

@jec_ecart Жыл бұрын

Agree

@Rexorazor Жыл бұрын

I don't want any fking loans.

@bhaskaradgual8850 Жыл бұрын

First make our law makers pay their taxes !!

@AyushBisht20 11 ай бұрын

What a brilliant piece and a way forward for India not following Argentine's; "No Income Tax" Policy but following advice at the end by Mrs. Palki Sharma based on the facts and figures of India and it's Taxes story.

@girishmalviya7719 Жыл бұрын

Abolishing income tax in India would finish the problem of black money. With the black money coming in circulation GST collection will increase. In case there is still shortfall in total tax collection GST rates can be increased marginally. This will also remove double taxation of income tax payers as they pay tax on income as well as spending (GST). The IT dept then can be use for ensuring better GST compliance.

@Pipsum Жыл бұрын

If GST would be the only tax applicable to India. It would have coped up with more then average income tax payers. Since we pay gst in everything.

@anandbm7715 Жыл бұрын

Hahaha

@raghuveerdendukuri1762 Жыл бұрын

Abolishing income tax is quite possible. Non-cascading transsction tax proposal from IdealNation can support do it comprehensively with an integrated alternative

@shaktimaan1064 Жыл бұрын

@VijaygKamat Жыл бұрын

@@Pipsum You pay GST on everything because you consume everything.

@izakniemann5734 11 ай бұрын

Fabulous. Finally common sense in Argentina.

@DineshGaikwad Жыл бұрын

I liked the last line, "India has a huge wealth gap and taxes alone cannot solve this", it cannot get truer than this for sure!

@smeshnoymatvey2054 Жыл бұрын

Taxes only increase gap because rich Indians have capability to shift their companies outside India and migrate.

@legalconsultant861 Жыл бұрын

You better deal with the concentration of wealth because without a fair and equitable resource allocation system, the tax system isn't the way to correct it, including abolishing taxes. The wealth is still unfairly in the hands of few.

@exosproudmamabear558 11 ай бұрын

There are different tax types. Income tax usually affect middle class while corporate tax affects ric and companies while indirect taxes like product taxes affects poor people. So yeah taxes are the most important thing to decrease wealth gap. Look scandanivians for example have really high cprporate tax low indirect taxes

@AB-jz9ns 11 ай бұрын

@@exosproudmamabear558 Corporate taxes in reality are never paid by corporations themselves but they are passed on to the consumers of the products and services they serve. If a government increases corporate tax rates then this increase becomes part of the cost of doing business and it translates to higher prices. Corporate taxes are a fallacy by design. IMO business taxes should be abolished and only physical persons be taxed based on their income. If a corporation makes a profit then that profit get's smaller after paying corporate taxes. Tthen the rest get's distributed to all shareholders (including employee shareholders). Then all these people pay income taxes AGAIN on something that was already taxed at the corporate level!!! This increases the cost of doing business and companies seek to move the business elsewhere!

@exosproudmamabear558 11 ай бұрын

@@AB-jz9ns These are on theory true but when you look America which have less corporate tax although the products are cheap wealth gap is really high while in Norway corporate tax is high products are expensive but wealth gap is a non issue that much so even minimum wage can afford most of the things. Companies get out of paying corporate tax because of screwed audit systems and lobbying. If you keep your corruption low and establish proper audit systems then there wont be a problem like how Scandanivian countries does. But this is for developed economies. Increasing too much corporate tax as you say will cause a problem in undeveloped or still developing countries but abolishing it is simply an idiotic take since auditing personal accounts are more difficult than auditing company acounts therefore they can keep away money more.

@Damremont18 11 ай бұрын

One of the best taxes is a consumer\sales tax or VAT because it’s voluntary in essence. You buy, you pay or you don’t. Basic Food purchases are usually exempt from a sales tax except the caviar. Items like cigarettes, liquor, and weed (where legal) can be taxed at a high rate. Road and Bridge tolls also fit in nicely with this kind of regime. Universal health care could be available and costs financed by a public insurance scheme with premiums paid by families and individuals. I wish Argentina good luck and hope it goes well for them.

@AnonymousAnonymous-dc3jm Жыл бұрын

the Nordic countries have very high income tax, and also they have extremely low corruption, so paying 50%+ in income tax is not a problem but in India paying income tax means filling the pockets of the politicians.

@harshanand9329 Жыл бұрын

True. ❤

@Renusri12 Жыл бұрын

And freebies for elections

@anshulsharama1073 Жыл бұрын

bro ,Argentina is in south America it has very high inflation rate and also they are trying to increase the money holding ratio with the public so that they can increase demand , lemme tell you ARGENTINA has 76% inflation whereases INDIA has only6% inflation

@docaz9453 Жыл бұрын

How do you know they dont have corruption ?

@chaatkedekh Жыл бұрын

Dont just assume anything. Argentina is in trouble with its economy and India is growing way too strong in comparison of Nordic countries. The infrastructure is growing at record pace, that cannot be possible with corruption. You have such insecurity that you dont want to see the numbers just want to lick the boots of Goras

@mohammedakram7710 Жыл бұрын

I liked what he did in Argentina. In future, everyone knows about him what he has done. His creativeness is clearly admired me. He took long road not short one.

@nakulponnanna5633 Жыл бұрын

India should also Abolish Tax on Income but keep Tax on Expenditure.

@darkzero4608 Жыл бұрын

Just stop Free fund, and tax exemption to salaried employees, everything will come to normal.

@raghuveerdendukuri1762 Жыл бұрын

Abolishing income tax is quite possible. Non-cascading transsction tax proposal from IdealNation can support do it comprehensively

@shaktimaan1064 Жыл бұрын

@anon7641 Жыл бұрын

Of course HNI’s are leaving India! Serves is right- we take away 50% of what they earn! Bloody BJP

@Animessloth Жыл бұрын

@@shaktimaan1064 Our taxes are going waste for all the freebies

@aayush146 Жыл бұрын

I paid almost 50% tax last year . I’m a general category guy but don’t get any support from Central or state government. It’s hard to get nothing in return of such amount . Though I don’t want to but situations are pushing me to think to move abroad

@Yogendra55Yadav Жыл бұрын

I also want to migrate abroad India is not for general category people government is exploiting general category people it's time to leave India.

@iicyifu0 11 ай бұрын

@@Yogendra55Yadavbhai aap to Yadav ho aap to OBC ho, apko to 9th fail Tejashvi Yadav ji reservation badhane wale hai, please India se mat jana ok, kyunki ab to Tesla motors aur Apple iPhone company Bihar aane wali hai. You are right bro. India, me general category ki koi value nahi hai jabki sabse jyada taxes ham dete hai. Politician caste aur religion politics karke janta ko chutiya banate hai

@Yogendra55Yadav 11 ай бұрын

@@iicyifu0 Bhai kyaa fayda mein obc creamy layer mein aata hoon mujhe koi fayda nahi milta reservation mein isliye Hindustan chodne kaa man hain.

@megharaj4989 Жыл бұрын

In India, the salaried class is the only one paying income tax. They pay 30% when income is high and another 20% in indirect taxes. This highly demoralises people who want to work hard and earn more

@josheversmann1376 Жыл бұрын

When it's 30pcent, lots of cess also comes up, so the tax is almost 33to34pcent

@meerosman9696 Жыл бұрын

@megharaj4989 what is more disappointing is that our Rich/elite class avoid paying tax through loop wholes. Pandora box Papers released.Names : Amithabh Bachhan, Sachin Tendulkar.

@josheversmann1376 Жыл бұрын

@@meerosman9696 when rich are robbed in the name of tax, it has to happen. If a new business will pay 33 pcent as IT and then gst above that,how will it expand. When u work for 12 months and pay 5 months as tax people will be pushed to do such things. It is one big reason why rich leave India as they do not getting anything in return even after paying that much tax.

@devarajkrishnamoorthy4265 Жыл бұрын

after tax money you get hit by GST when you spend. TDS/Capital gains tax when you invest.@@josheversmann1376

@megharaj4989 Жыл бұрын

@@meerosman9696 is not just about evading tax, it's about what you get back as well. If your money is going to be used to give 1000rs/month to someone for votes but you are gonna get bad roads, improper security in return, who would wanna pay tax?

@barryscott6222 11 ай бұрын

Will be fascinating to see how this works out for them. And if there is any relevant lessons from this for the rest of us. If printing money is the way this is planned to work, then this is a bad joke.

@skeezix8156 11 ай бұрын

It will work about as well as it has from ghengis khan to modern day Venezuela. Disastrous, the US is heading down a slippery slope to a version of this

@wilfriedvomacka1783 11 ай бұрын

My guess is this will work out for them the Zimbabwe way. Massive spending not enough income, they need those money. If they don't get them through taxes, they will need to print them. This will create more inflation. And no politician will ever reintroduce income tax. That would be suicide for them. So most probable outcome is higher inflation every year. Slow at first and then quick hyperinflation the end. And dead economy.

@cfaninjas Жыл бұрын

Well in India a large audience is using agriculture income as a source to escape taxes

@sudhanvabhat3100 Жыл бұрын

Businessmen have agricultural land . They show their business income as agricultural income.

@hiteshsaxena1553 Жыл бұрын

One of the reasons why the new farm laws, introduced by Modi government, were opposed so vehemently was that they tried to distinguish between agriculture middlemen/traders and actual farmers, because middlemen/ traders disguise themselves as farmers and evade taxes because income from trading is taxable unlike farmer's income. In this way a huge number of households do not pay income tax because either they're actual farmers or are rich traders but pose as farmers.

@russellhorsefield9199 Жыл бұрын

Now what if that farmer has invested in the shops that sell his good and he take them there himself , well in that case he has piss the middle man off as it does not exist , Then I ask the question should he pay tax if he provide the jobs from his farm?

@hiteshsaxena1553 Жыл бұрын

@@russellhorsefield9199 Selling at the shop, charge and deposit GST, if applicable.

@bhavickameishri1883 Жыл бұрын

Very frank &naked truth said openly I am regular taxpayer &highly educated citizen of India says couple of questions openly frankly like u ma'am kindly consider these questions asking too-:1)where does every nation's toll pay mere just day collection is more than 1lakh &20crores estimated (roughly)the hard-earned people money go 2)why there is SO CALLED TAX BURDEN (LAGAAN)FOR MIDDLE TO HIGHER MIDDLE CLASS BCOS NONE OF ANY POLITICALS HAVE BEING PAYING OR CONTRIBUTING TO OUR GDP^AS U SAID THE BILLIONAIRES ARE ALREADY MIGRATING TO ZERO TAX COUNTRIES&TAKING THEIR WEALTH WITH THEM IS THERE ANY LAW TO THIS INJUSTICE FOR staying &working our button out tolling for nothing seems worth staying in INDIA then -ma'am

@DevendraMahendraSingh Жыл бұрын

Zero income tax for people earning below a certain amount is called a "Tax Treshold".

@shaktimaan1064 Жыл бұрын

it’s simple common sense that overall quality of life will always be better in developed countries than that of in developing countries. And there are always pull factors in developed regions and push factors in developing or underdeveloped regions be it immigration from developing to developed countries or migration from under developed states to developed states within a country. So that’s not a point of debate when everyone is agreed. Here some social media heroes it seems to be after the propaganda of portraying The so called high tax as only reason to leave India. I am completely against and protest against such propaganda. As far as high indirect tax is concerned, I would request foreign lovers to compare the overall taxation versus GDP in developed countries versus India before adopting some strong attitude based on factual incorrectness or misplaced idea. As far as tax on luxury is concerned, it is always taxed heavily in all the countries. In developed countries, most of the people pay tax even if it is higher then India’s tax slab .whereas in India, only 2% of people pay tax. We also have to investigate where these people going after leaving India. Most of them are going to high tax economies then tax is certainly not the reason. But it seems antinational elements R deliberately linking tax regime with incidents of high immigration out of India so that Indian state can be weaken. Let’s not get trapped into such conspiracies and pay tax honestly.

@venkataramananchidambaram3684 Жыл бұрын

Argentina ,no Tax !!! Chance of falling like SriLanka !!!! Not a wise decision.Rajapakshes decision of no Tax ,made the country Bankrupt.!!! Argentina likely to suffer.!!

@LankanIan Жыл бұрын

yes

@nospamallowed4890 11 ай бұрын

The problem in the 3rd world is that taxes do not normally translate into public services. Much of the money either gets wasted in stupid things or embezzled. Also, a huge part of the economy is "informal" and a large portion of the population pays no taxes even though they have income. So, the concept of no income tax could make sense... if it is replaced by a tiered system of sales tax: No tax for basic food, medicine and shelter. Normal tax for most items and services... things that are normally used but not essential and people typically do without when they cannot afford them. A high tax for luxury items and services that are typically consumed by the top 10% of the population.

@kghello Жыл бұрын

Thats the exact fear indians should have regarding INDI party for 2024 elections.

@stanleyj9839 Жыл бұрын

why are you paranoid? this sounds like NDA will eliminate minorities. Irrespective of party india need taxes. Don’t create unnecessary problems in your mind.

@ambientsounders Жыл бұрын

What's the fear ?

@ambientsounders Жыл бұрын

@@Hello-ww1so Lowering of taxes ? BJP is the one that increased the taxes. They were quite low during UPA

@kghello Жыл бұрын

@@ambientsounders And the country was called the fragile five with high debt and not even counted as a strong country then.

@ambientsounders Жыл бұрын

@@kghello The UPA GDP growth rate was almost 2% higher than the BJP growth rate for the past 10 years despite BJP trying to fudge the numbers by changing the GDP base year. The Fragile 5 rating was just given by a random analyst at Morgan Stanley because the countries were dependent on foreign investment - which we still are.

@vinayraje6514 Жыл бұрын

An eye opener presentation by First Post. Good going.... keep it up.... Now it's really a time for Govt of India to think and reduce the Income Tax.

@carloschapa4571 11 ай бұрын

If the IMF is against this then it's the right thing to do

@SaiPuneeth. Жыл бұрын

Yes people are leaving india...but what about the remittances india receive...i think india got 112.5 billion dollars in remittances

@curiousindori Жыл бұрын

Remittances only last for a few years or decades but brain drain is Permanent.

@fpxpGetReal 11 ай бұрын

Wow 🤩 Finally and it won’t cost as much as it would if they simply raise interest. The more money in the hands of the majority would mean money spent within its own economy and sales tax would allow people to choose according to their needs .

@LastDance007 11 ай бұрын

great one-liner about immortality, Palki you excel

@avneeshsingh6296 Жыл бұрын

I m very impressed with your anchoring

@gabrielsalinas9866 11 ай бұрын

Very sad, painfully true, in Argentina the political organization are mafias, and all of them have the same goals... still as much money as possible, the next government will still what the prior couldn’t do to time issues. No one hold the other accountable. It is a great country with natural resources, beautiful landscapes and all 4 seasons from north to south, sadly there is no one political leader that would have what it takes to get my country a chance to be a good place to live. I myself left Argentina in the year 2001 before the devastating storm of Menem presidency and all the political corruption he created was brought to light and expose the reality that the rest of the world was clearly seen. Thank you for your information, it hurts to see what is happening in the country I once was happy growing up. As always you do a great journalistic inform. I now live in a country where taxes maintain infrastructure, where you can see how much advance and growth tax bring to the country to its people, no isn’t perfect but it’s a day & night difference between taxes use to keep the country moving forward and taxes that only benefits the political system in power at the given time.

@ayanghosh307 Жыл бұрын

This economic diversity is not helping the country. lower class has to come up quick. India has to match the infrastructure the of the developed world. If not, then for the people paying taxes, out of the country seems a better place to be.

@shaktimaan1064 Жыл бұрын

@heronimousbrapson863 Жыл бұрын

No INCOME taxes. I suspect there will be other, more regressive forms of tax.

@funfun9360 11 ай бұрын

In India also the Indian govt should not take any Income tax from Indian citizens.

@gweitsman 11 ай бұрын

I do not know about India, but in UK is official highest tax is 45%, but if you make more than 125K per year, the additional hidden tax would get to 60%. Plus all pensions are taxable if exceed 12.5K per year (it is very difficult to live for 1K per month with recent price rise. Just wanted to complete picture....

@nitinsubudhi5158 Жыл бұрын

Finally at least you raised this. Yes with high tax it is really difficult for us.

@seerchdb9369 11 ай бұрын

This income tax, taxed only income above 25 thousand dollars per month in 1999. But with so much inflation we have in Argentina now this tax is applied to the working force. At 400 dollars per month you pay the tax. This ban only rises to 1700 dollars per month. But it's set in pesos, so with a inflation rate of 150% in one year those winning 850 dollars will start to pay again this tax. Also this is not the only tax we pay.

@Cutestar6757 Жыл бұрын

I support,Argentina is doing good... taxes do not increase xealth of any country...all goods ,house electricity are already taxed... double tax.. werent ancient rukers not into taxing common ppl

@JaiPrakash-hu6db Жыл бұрын

Great .. india should also abolish all taxes to grow demand

@bethelnest2704 Жыл бұрын

Implement it in every state,some states contribute much to GDP and some don't.let every state work on scaling solutions

@mehdizyoutube Жыл бұрын

wow, she finally became a real journalist, putting out facts even if critical of Indian issues, to help us acknowledge it, and wórk to improve it

@TSnowy23 11 ай бұрын

I agree Argentina shouldn't be going on a spending spree, BUT I am in favor of getting rid of income tax, as it would force the government to be more fiscally responcible; You still pay federal state & local taxes, even taxes on goods and services, why should people pay a tax on earning income? interesting video

@ramfulsurendra7003 Жыл бұрын

How 😊do they find funds to run their govt. Is there plenty of funds at the treasury to meet all the annual expenditures and still having more funds for investment? Very surprising how its possible for Argentina to do away with taxation.

@gostodemaisdaroca4052 11 ай бұрын

Income taxes= punishment for your hard work .

@sbodrillo 11 ай бұрын

Revise your statement about Italy. High taxes, declining service quality, and long medical wait times.

@RR-pg3hw Жыл бұрын

Wish we get benefits worth the money paid as taxes when we really need it during retirement atleast, the worst part is when we see the politicians take the cake without having to do anything at all.. just become an MLA for a year and get pensions.

@edwardyanis1301 11 ай бұрын

Good luck, Argentina!

@voltaire229 11 ай бұрын

2 weeks before their election. Will this turn the tide?

@WorlTramp Жыл бұрын

As always, well explained

@MatchaCocoaDog Жыл бұрын

I did a global health program in Argentina this summer for a month; wonderful people. The economy is really bad and they just can't seem to catch a break. Hopefully the tide will turn!

@thato596 Жыл бұрын

Other countries are printing millions and billions every year we do not see inflation

@Jamal-Ahmed786 11 ай бұрын

Your chart is wrong, the highest level of income tax in UK is 45%, not 40%

@thierrylaval4449 Жыл бұрын

This is better democracy and values.

@aniksamiurrahman6365 11 ай бұрын

Sure Mrs. Palki - instead of trying to increase productivity and opportunity, India should add Uber rich welfare to their corporate welfare package.

@jimba6486 11 ай бұрын

This lady gave fantastic commentary. She knows more about economics than the talking heads in America.

@anilanchalachoudhury7386 Жыл бұрын

I liked the factual depiction and Palki has clearly said that the high tax rate in India does not come back to the tax payers in the form of public infra, that is concerning. People calling out for tax reduction or reducing tax burden should know that it has been a long time since section 80c limits were revised; let alone revamping the tax system. Everyone in this country is here just for filling their pockets by merely doing the lip service. The smartest thing is to just do as 700+ HNIs have done because this country is never going to change.Though I am sounding pessimist but intent is to just be realistic and unfortunately that's the truth. Hope someone from the govt reads this and wakes up if possible remotely.

@dariobon 11 ай бұрын

Income tax is not exactly the same as "Impuesto a las Ganancias". The correct translation is "Tax to Profits"

@djjohnson5580 11 ай бұрын

We should do the same. Tax the purchase not the earnings. Abolish the irs.

@SrinivasA-vk7if Жыл бұрын

It was 30% tax for income >10L in 2012. Still, it is same with minor changes in below 10L income. But, the cost of living is more than doubled in these 11 years. Govt is taking granted of income tax of salaried. They should identify business men who are not paying tax properly instead of taxing LTCG, revoking indexation benefit of debt funds, taxing PF interest beyond 2L...

@norayr3975 11 ай бұрын

The US didn't have a federal income tax for half of its history. The federal government relied on tariffs for its revenue.

@Southghost5997 Жыл бұрын

In the absence or control of corruption (control seems easier i guess), we should be able to freely adjust tax levels.

@satyanarayang6589 Жыл бұрын

Then, they will introduce Expenditure Tax?

@viralnewsmalaysia Жыл бұрын

Wow so cooooool👍

@Christopher-hx6xm 11 ай бұрын

Is it safe in Argentina?

@kentvalentin2628 11 ай бұрын

The thing people don’t understand with less tax is, when people get more money in there hands they will spend more. Typically on there home and general living standards. Thereby the money will again flow back to the economy. So lover tax doesn’t necessarily cost a government anything.

@Dancing_Alone_wRentals 11 ай бұрын

Go Argentina Go !!!!

@ISpitHotFiyaa Жыл бұрын

I'm not sure how they can afford it but it's a good move. It's probably like a lot of other income taxes in that only middle class wage earners end up paying it. You're better off with a sales tax or property tax. It's a lot harder for the rich to hide property than income.

@Ami7166 Жыл бұрын

Tax and interests are curse. Businesses should be profit based and Govt should be service based.

@fribersson 11 ай бұрын

UAE has oil, Monaco has casinos, Argentina has elections. Makes sense.

@AmanKumar12138 Жыл бұрын

This kind of measures in democratic countries for political gain makes me think sometimes whether democracy is really good, because often parties tend to put their political interests ahead of national interest.

@FellTheSky Жыл бұрын

I'm from Argentina and trust me, you don't want to take any of our economic policies as example of anything.

@sanketnegi1 Жыл бұрын

All the governments are screwing countries just for votes.. Common people are sailing in the same boat..

@Lone.Wolf1976 11 ай бұрын

Beautiful now thats a law anyone can get behind!

@crisb3631 11 ай бұрын

The country will boom money goes round

@RNIIVI1985 11 ай бұрын

How much to get Argentina citizenship???

@shauncorless8965 11 ай бұрын

Here's why ,,nobody, s got any money to pay for anything ,,😢

@getplaning 11 ай бұрын

Income tax should be abolished everywhere, and replaced with a flat tax on net assets, wherever they are held. No loopholes, exemptions, or hiding assets in tax havens.

@danw6014 11 ай бұрын

Several states in the US have no income tax and a budget surplus.

@smaaditya Жыл бұрын

Why can’t we have consumption tax. U can’t earn and stock. Have to spend right ?

@abithgk8023 Жыл бұрын

Personal income tax for Indian citizens working in India need to be abolished .This will not dent the govt income.when income tax is abolished black money will be eliminated and spending will increase which will increase indirect taxes

@mikemassey7403 11 ай бұрын

Watch how this country will get richer along with its citizens.

@tsankar9603 Жыл бұрын

In Vedic period of Bharat, taxes were collected only from the business people [houses or enterprises], but not from the workers or from the employees. But the British [curriculum of loot] trained Bureaucracy from Dehradun, is fully and hundred percent, following the footsteps of ‘their masters’, and making the already low income Indians from poor to poorer. That is why, the rich are leaving the country, because of the ‘Draconian’ tax policies of India, particularly Income Tax, & if it is abolished, then, all the Black money which government labels it, will flow into the market economy and the Indian economy will flourish, but & about it, which, the National Media never covers or questions the government. Thank you.

@Entrenamientonautico 11 ай бұрын

May be, but today they told us if we buy a thing like Spotify, we will be charged a tax of 25%

@azzureone78 Жыл бұрын

It's so sad that this used to be one of the richest countries in the world. The terrible policies governments have pursued over the decades have made it poor.

@thevasilakis 11 ай бұрын

Income-tax is a crime.. Some states of the USA have also no income-tax....

@krunalpatadia5225 Жыл бұрын

amazng....

@orunabho Жыл бұрын

We should do the same in India. Abolish income tax for all indians with income below 1 crore rupees. Amd then 15 percent over 1 crore income.

@avidebnath8435 Жыл бұрын

In India make all transactions to be compulsorily done through online, and keep only one tax called Banking Transaction tax. Also put all tax on imported goods. INDIA 🇮🇳 MUST ALSO TRY TO GO FOR ZERO IMPORT.

@rolandivankovic1438 11 ай бұрын

Sounds fair for a change

@Good_Jobs Жыл бұрын

Very good decision

@wilfredpeake9987 11 ай бұрын

The only way this works is if they they increase the investability and liquidity of the currency

@dhaneshwarpoojary6148 Жыл бұрын

What are your thoughts on Manipur.

@physiocrat7143 11 ай бұрын

Governments can do without taxes on wages, goods and services but they must be replaced by a land value tax or the result will be hyperinflation.

@gordonhamilton727 11 ай бұрын

This is a giant step forward for Argentina. They now need to reduce the size of goverment. They need to stay away from the IMF, (it's like borrowing from a loan shark).They need to go back to sound money Gold and Silver. Hong Kong was built on low taxation and had one of the highest standard of living in the world.

@kluge1245 11 ай бұрын

As a Sri Lankan, this reminds me of the huge Tax cuts former President Gotabaya enacted shortly after his election in 2019. It was one of his campaign promises and was very popular at the time. But we all found out the devasting long term consequences of his tax cuts.

@Dan16673 11 ай бұрын

If you cut income tax but do not cut government. Youve done no good

@kingk2405 Жыл бұрын

In France roughly 52% do not pay income taxes .

@soundaramg9559 11 ай бұрын

India may not withdraw Income Tax. Even the tax exemption has not been increased as said by Thiru. Vajpayee then prime minister at Rs 5 lakhs

@mariogomez2153 11 ай бұрын

Argentina should abolish deficit spending politicians and deficit spending goverment! Then maybe we will have a chance!

@LowCarbLowDrama Жыл бұрын

I could be wrong, so don't quote me on this but from memory, minimum taxable personal income in: Australia is $18,000 +. In the US is $12,000 +. In Canada is $53,000 +. In the UK is £12,000 +.

@HassanKhurshid-jh1cu Жыл бұрын

Don't end income tax. Rather put an end to indirect taxes and subsidies and end limited liability. This way each individual will be taxed on any gain he makes their companies will not be involved.