“It makes it harder for poor and low-income families to access food benefits they deserve, while making it easier for wealthy people to cheat on their taxes.”
President Gustavo Petro’s government plans to raise $20 trillion Colombian pesos through a hyper-targeted tax on less than one percent of the country’s top earners. Other nations should take notice.
This provision of the Inflation Reduction Act will discourage corporations from siphoning resources from worker wages and productive investments for share repurchases that inflate CEO pay.
Running on a platform of gender equity, progressive taxation, and environmental protection, Colombia’s first leftist president could bring much-needed change to a deeply unequal nation.