Mayor of Guayaquil, Jaime Nebot, says that the estate taxes will affect the poor

Sources: Expreso

The Mayor of Guayaquil, Jaime Nebot, considered that a “responsible State” should generate a “moderate” inheritance tax and added that it is wrong to say that the new tax will not affect the poor and the middle class.

In Radio Tropicana explained that if the large economic groups “are punished” with a 77% tax (77 of every $100), the poor will be harmed, because the first will stop investing, growing and creating jobs and are going to take their investments to other countries with reasonable taxes.

The mayor said that a responsible State should promote legal certainty, the investment that generates employment, confidence and economic growth, as well as taxes. But if “the state destroys the private initiative, destroys itself by lack of income”.