Maduro also imposed a tax on the wealthy in Venezuela, and poverty increased.

The ultra-radical left is determined to implement a new tax supposedly on the richest 1% of the population, a typical measure of statism and impoverishing socialism. 

This idea is led by PIT-CNT, and by ultra-radical left senators, such as the communists Oscar Andrade and Constanza Moreira, and by the socialist Gustavo González. 

The argument is that with the revenue from this new tax, "child poverty" will be addressed.

The eternal lie as always, imposing more taxes and claiming that the revenue from that tax will have a worthy purpose.

What these three senators and the union leadership are hiding is that they are copying a tax implemented by the Venezuelan communist dictatorship a few years ago, which has been a resounding failure.

A copy of the Chavista tax

The Large Financial Transactions Tax (IGTF) was created in 2015 under the government of the narco-communist dictator Nicolás Maduro, and was reformed in 2022.

The purpose was to tax transactions in foreign currencies and cryptocurrencies, in a context of de facto dollarization in Venezuela, where about 70% of transactions in the main cities are carried out in dollars or other foreign currencies.

The 2022 reform established a rate that varies between 2.5% and 20%, although a general rate of 3% was initially applied to transactions in foreign currencies. 

For those not registered in the banking system, the rate can reach 20%, adding other taxes such as VAT (16%).

According to Maduro's government, the IGTF seeks to collect dollars from "the richest and the largest industrialists and merchants."

Terrible results

As could not be otherwise, the tax implemented by the Venezuelan communist dictatorship has been a complete failure.

The only thing it caused was more ruin, more misery, more hunger, more unemployment, and more inflation. 

After the years have passed, all serious economists agree that the tax from the narco-Chavista dictatorship only brought more ruin to the Caribbean country.

In Uruguay, the radical sectors of the Frente Amplio led by Andrade, Constanza Moreira, and Gustavo González, and by the Frente Amplio union leadership PIT-CNT, are imitating the Venezuelan tyranny.

They want to implement a tax that will only bring ruin and misery, and that is a direct attack on private investments, which are the ones that truly generate genuine employment.

It is a very dangerous ideological delusion for macroeconomic stability, and if implemented, it will only bring disasters.

The new tax that the ultra radicals in Uruguay are proposing has already been implemented by Maduro in Venezuela, and the results have been calamitous.

It is the same old decadent socialism. Imposing more taxes so that the rulers can squander, steal, and waste it.