Monday, March 07, 2005

Lula's Samba: Expropiate the rich while you smile to Standard&Poor's

In 2002, Lula's fiscal policy beated any optimistic expectation gaining a 4,6% of budget surplus. A wave of international analysts have quickly gained confidence in the Brazilian administration to overcome the huge debt of the country... as quick as they have lost it some years before. Brazil country-risk premium is falling now to levels before the debt crisis, but the new tax policies implemented by the .gov are gaining strong opposition in the streets, and specially in the federal congress.

Lula's administration tries to shift the weight of the tax burden from salaried employees to farmers, professionals and self-employed, but the House has the key to put working that revolutionary new legislation.


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