What this means in practice, is that someone will make a billion dollars in Brazil, and then move and spend it all elsewhere, so they can continue becoming richer. This is bad for Brazil, since developing is expensive.
I agree, a 2% tax would still be just slightly better than nothing.
someone will make a billion dollars in Brazil, and then move and spend it all elsewhere
you are 100% accurate, they do exactly that already. most of our oligarchs hate their own country and spend most of their time (and money!) in europe or something.
What this means in practice, is that someone will make a billion dollars in Brazil, and then move and spend it all elsewhere, so they can continue becoming richer. This is bad for Brazil, since developing is expensive.
I think a hard cap would be better.
I agree, a 2% tax would still be just slightly better than nothing.
you are 100% accurate, they do exactly that already. most of our oligarchs hate their own country and spend most of their time (and money!) in europe or something.