Argentina Wealth Tax Fought by the Rich Raises $2.4 Billion (2)

Argentina’s government raised 74% of the amount it had targeted from a controversial new tax on the country’s wealthiest citizens.

The government collected 223 billion pesos ($2.4 billion), according to an official statement. Early data show that 10,000 people with assets over 200 million pesos paid the new tax, which goes as high as 5.25% of their assets’ value.

Initiatives to tax the rich have gained support throughout Latin America as the region struggles to recover from its worst recession in two centuries. In Argentina, millionaires resisted paying the levy right up to the government’s April 16 deadline. In ...