Platform for Dialogue “(De) Regulation of Wealth in Latin America: A New Approach in Times of Pandemic”
Latin America is the most unequal region in the world and mechanisms to regulate wealth and reduce inequity continue to failure. Historically, our societies have been characterized by regressive tax systems, states captured by financial elites, capital flight, and the embezzlement of public funds. Tax revenues in Latin America depend on consumption duties and the export of raw materials. By 2015, only 1.8% of GDP was generated from income tax, compared to 8.3% in OECD countries. In some nations of the region, accumulated wealth reaches 60% of GDP.