Argentina’s Economy Minister Backs Wealth Tax, Rejects Austerity

Argentine Economy Minister Martin Guzman has backed the idea of a wealth tax on the country’s rich as the nation to fend off creditors and find money to help cope with the Covid-19 pandemic.

The tax would affect 11,000 people with fortunes of at least $2 million, Guzman said, without specifying where that cut-off point might come. He spoke in an interview with journalist Horacio Verbitsky, published on the website El Cohete a la Luna. President Alberto Fernandez, in a separate interview, spoke of the need for wealth redistribution.

Argentina lacks room for austerity or cutbacks and needs ...