he politics of austerity suffered a significant setback in Colombia.
The top one percent of the country’s population possesses $229.7 billion USD, or 37.3 percent of Colombia’s total wealth, which. The top ten percent has nearly three-quarters of the nation’s wealth, meanwhile the bottom half of the population retains a mere 1.6 percent. It is no surprise then that the implementation of a wealth tax in Europe was unpopular. Challenges in liquidity generated demands for primary homes and other non-income producing assets to be exempt. These exemptions were granted and later exploited by the ultrawealthy, eroding the tax base and hindering the state’s ability to raise any significant revenue.
The annual wealth tax of the reform bill has three marginal tax rates: The first is an annual tax of 0.5 percent on wealth over $600,000 USD; the second is a 1 percent annual tax on wealth over $1 million USD; and the third is a 1.5 percent annual tax on wealth over $2 million USD. This last bracket, however, is temporary and will expire at the end of 2026.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Letter: Columnist contrastAn Elgin letter to the editor: Sunday's Opinion columns provide a perfect political contrast.
Source: dailyherald - 🏆 317. / 59 Read more »
What Does The Nuclear Fusion Breakthrough Mean For Clean Energy?A breakthrough in nuclear fusion was announced this week, but some are warning the fusion revolution is still decades away. See perspectives and analysis across the spectrum from nypost, thedailybeast, and HoustonChron:
Source: AllSidesNow - 🏆 572. / 51 Read more »
Should the U.S. Increase or Scale Back Military Aid to Ukraine?The U.S. is reportedly sending Patriot missile defense systems to Ukraine. Should even more sophisticated weaponry be sent? See perspectives across the spectrum from washingtonpost, Jerusalem_Post, and FoxNewsOpinion:
Source: AllSidesNow - 🏆 572. / 51 Read more »
Chicago mayoral election: New poll shows where Lightfoot standsA new voter opinion survey suggests Mayor Lori Lightfoot is in trouble. Vote this vile disgusting incompetent racist clown out of office. great news for the city 😎 So out of her depth. Weak on crime and justice.
Source: fox32news - 🏆 547. / 51 Read more »
Opinion: Rising utility costs pushing California retirees to the limitAfter about a half of century of employment each, we hardly deserve such treatment. Not just retirees, but these rapid rise in utilities are affecting most middle class homeowners as well. Between water, sewer, electricity, gas, and soon trash pick-up, the overall rates will be up 30% in the next 2 years. That's crazy. The Governor and his henchmen in association with CPUC will try to drive us seniors under!
Source: sdut - 🏆 5. / 95 Read more »