An economist has come out against the Minister of Economy, Luis Caputo, who said that people should sell dollars to pay taxes.
The Minister of Economy, Luis Caputo, He assured that “Soon people will have to sell dollars to pay taxes”. He received strong criticism for this and the social network X accused him of “celebrating that people are getting rid of assets (stocks) to pay cash flows” and of promoting “household dissavings.” Caputo chose, however, to confirm that “the strong currency will be the peso.”
The macroeconomics specialist Pablo Bortz He countered the statements made by the head of the Treasury and said: “Do you understand that you are celebrating people getting rid of assets (stocks) to pay flows? Do you understand that you are looking for and celebrating the lack of savings in households?”
Caputo then reiterated: “Dear, what I am saying is that over time there will be fewer and fewer pesos because no more are issued for any reason and pesos are absorbed due to surplus. Once again, in currency competition, the strong currency will be the peso“.
He then said that Those who are buying dollars today thinking that it could be a good investment, “I am warning them that it will not happen”And he explained something very obvious: “Since taxes are paid in pesos, if you have savings in pesos today and you dollarize them, you will later have to sell them again to pay those taxes. The issue is very simple.”
Finally, he chose the path of chicanery: “You don’t need to be an economist to understand it, let alone have a PhD. Greetings.”
Caputo’s controversial phrase
Speaking to La Nación+ and previously on the social network “X” when replying to a post, he had stated: “We are going to dry up the peso market. Some are not convinced. Reality will prove that soon people will have to sell dollars to pay taxes.”
During the television interview, the minister insisted that he will reduce the Country Tax in September and will eliminate it in December: “We are going to fulfill what we said,” he stressed.
“When we lower the country tax, inflation will go down even more because that reduction goes directly to prices,” he reiterated.
Accordingly, he insisted that Tax cuts will be the way to regain competitiveness, which is why he once again rejected the possibility of devaluation.
Source: Ambito
