Another harebrain idea has come to Hippo*s bald head from his economic advisors. The proposed "Barnichta Tax"(my own name to it) which proposes to tax interest earned on savings accounts and bank certificates at 5% of earnings(sort of like a capital gains tax) is as bad, if not worse than the tax on exports that was just declared illegal by the supreme court in DR.
My own impression is that this is the most sacred cow in DR and that Dominicans, including myself, who live off their savings, will fight this tooth and nail and we will even have politicians, the senate and even deputies on our side. This idea will run into a brick wall if sent to congress. The law will have to change to pass this stupidity, but it will also be the greatest run of money in the history of DR.
One of our worst presidents ever, Salvador Jorge Blanco tried to do this in the 80s and had to revert to something else. There was so much uproar, even an idiot like him had to swallow his pride. Now comes idiot Hippo trying to emulate a loser like Jorge Blanco and he will run into the same stone wall.(read my comments on the Trujillo book thread on Jorge Blanco)
Anyone who dares play games with savers in DR is digging his own grave. Saving is not a Dominican virtue and the only reason people save in DR is to earn hefty interests without paying taxes. Our economy has grown because of money investors. The economy dies without it.
I suggest to Hippo he better goes somewhere else for the money he needs to close the black holes in the economy and his empty head. I venture to say this may just be a trial balloon to sweet sell an increase in the ITBIS. If this is so, he better be right, because the ITBIS is the only thing he will be able to pass thru congress and avoid an economic riot from us. We can still take our money to Costa Rica or Panama. Let him go with this crazy idea and see who wins.
No wonder Leonel Fernandez is so far ahead in the polls. This dude just doesnt learn. Just go ahead and increase the ITBIS and stop flirting with suicide Hippo!!!
TW
My own impression is that this is the most sacred cow in DR and that Dominicans, including myself, who live off their savings, will fight this tooth and nail and we will even have politicians, the senate and even deputies on our side. This idea will run into a brick wall if sent to congress. The law will have to change to pass this stupidity, but it will also be the greatest run of money in the history of DR.
One of our worst presidents ever, Salvador Jorge Blanco tried to do this in the 80s and had to revert to something else. There was so much uproar, even an idiot like him had to swallow his pride. Now comes idiot Hippo trying to emulate a loser like Jorge Blanco and he will run into the same stone wall.(read my comments on the Trujillo book thread on Jorge Blanco)
Anyone who dares play games with savers in DR is digging his own grave. Saving is not a Dominican virtue and the only reason people save in DR is to earn hefty interests without paying taxes. Our economy has grown because of money investors. The economy dies without it.
I suggest to Hippo he better goes somewhere else for the money he needs to close the black holes in the economy and his empty head. I venture to say this may just be a trial balloon to sweet sell an increase in the ITBIS. If this is so, he better be right, because the ITBIS is the only thing he will be able to pass thru congress and avoid an economic riot from us. We can still take our money to Costa Rica or Panama. Let him go with this crazy idea and see who wins.
No wonder Leonel Fernandez is so far ahead in the polls. This dude just doesnt learn. Just go ahead and increase the ITBIS and stop flirting with suicide Hippo!!!
TW
