[Magnusmaster]

Taxes in Argentina are insane. If you have a 1000 USD monthly salary you will be taxed in the same way as a billionaire: you have to pay a third of your income and 3% of your total wealth (that is, everything you own) each year. And you can't even deduct most debts from the 3% tax. And you get nothing in exchange, because all the money goes to the politicians' pockets and a welfare state that literally hands out money to millions of people who refuse to work

[notch656a]

Doing Business* puts Argentina's tax on profit at 106%. That is, it is illegal to make a profit in Argentina. Legally every business must shrink until destruction.

https://www.doingbusiness.org/content/dam/doingBusiness/coun...

[likortera]

Yes, but it is a feedback loop into destruction. People don't pay taxes because of this, so the government increases taxes to collect more, so people pay less, so they need more. There is no way out of it.