The Ministry of Finance shall lower taxes on all Classes to 60% or if a budget deficit is incurred before that, a five percent increase on the percentage when the deficit was incurred.
While it a positive that taxes are being lowered, I have a problem with the way the new tax system is being implemented. Even as a wealthy person my self, I think it is wrong that I should spend the same portion of my income on taxes as a poor or middle class citizen. After all, I spend a much smaller portion of income on my necessities than someone less wealthy than. Those life needs are not much more optional than taxes are. In effect, this flat tax ensures that the poor and middle class are spending more of their income on mandatory spending than the rich are. I think this is wrong and I imagine most Hispanians would agree with me.
Additionally, this cut might well help those who can not fully meet their needs, it still does nothing to help the masses of small burgher artisans whom have no stable income due to tariffs undermining their ability to import the resources they need to produce products Hispania consumes and exports.
Lastly, if the conservatives want to make the environment for investment healthier for those of us who are industrialists, an end to intervening in the economy and an abolishing tariffs would do it. No matter how much money you let us stockpile, we'll be waiting for healthier times to invest.
- Manuel Medrano