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Brazil is cutting all federal taxes on staple foods in a bid to tame inflation, after a report showed yesterday consumer prices rose more than analysts forecast for an eighth straight month.
A weaker currency, record low borrowing costs and $23 billion in tax cuts failed to kick-start the economy last year. Instead, the measures helped fuel inflation that is running faster than in Mexico, Colombia or Chile and approaching the 6.5 percent upper limit of the central bank’s target range.
Eliminating the 9.25 percent PIS/Cofins taxes on staple foodstuffs will both rein in prices and stimulate the economy as Brazilians improve their ability to save and consume, President Dilma Rousseff said. The measure will reduce tax revenue by 7.3 billion reais annually.
“At no time has there been a lack of care for the control of inflation, because economic stability is fundamental for us,” Rousseff said in a televised address. “That’s also why we don’t stop looking for new ways to lower the cost of living for Brazilians.”
With the measure, according to the president, Brazilians will stop paying every year about 7,300 million reais (3,850 million dollars) in taxes.
Originally posted by daryllyn
Oh.
So, are you telling me that their president actually cares about his people, so much so, that he is working to try to make their day to day life easier in a bad economy?
Seems backwards compared to what our president does.edit on 9-3-2013 by daryllyn because: (no reason given)
Originally posted by yamammasamonkey
Staple groceries are not taxed in the US. Sounds like this guy is way behind the curve to me.
Originally posted by yamammasamonkey
reply to post by daryllyn
Wake up, they've never been taxed in your lifetime here in the states!!!
Originally posted by daryllyn
reply to post by yamammasamonkey
Even is she was 'behind' the curve, it is still a step in the right direction.
The city of Rio de Janeiro (Brazil) is launching an electric taxi program, through a partnership between the Rio de Janeiro City Government, Nissan do Brasil Automóveis (NBA) and Petrobras Distribuidora.
Originally posted by hououinkyouma
reply to post by Trueman
She just want to give somethig insignificant to the people.
Originally posted by hououinkyouma
reply to post by Trueman
Don't post things about a country that you don't live in.
Originally posted by hououinkyouma
reply to post by Trueman
Live with your lies if you want. Maybe you should buy a ticket to Brazil and see how it really is with your eyes.
Originally posted by hououinkyouma
reply to post by Trueman
Every country has one diferent government