Sanchez offers "strength in the face of uncertainty" on Wall Street but create another "tax on the rich"

The announcement of the new “temporary tax for millionaires”, which was confirmed this Thursday by the Minister of Finance, Maria Jesus Montero, had the curious virtue of not satisfying anyone. He not even to the Government, because Pedro Sánchez was in New York in full offensive in search of rich people, funds and investors who want to put their money in our country. Only the PSOE, already launched in its campaign to show itself as the defender of “the middle and working class”, that of “the people”, against the PP “of the powerful”… that crushes it in the polls.

Of course, the millionaires, as directly affected, will not like it. The opposition does not applaud it either -PP, Ciudadanos and Vox bet just the opposite, for lowering the fiscal pressure to alleviate the effects of inflation shot up to almost 11%-. But it is that even Sánchez’s partners reject him: neither United We Can swallow with this figure, which “does not comply with the coalition pact”, not even the parliamentary allies accept that it is only “for two years”.

The same day that Sánchez had sold “the strength of the Spanish economy” to American businessmen; at the same time that he compared the GDP, collection and employment with the statistics of our environment and asserted that “our numbers are better”; just when she gave a speech to the Spain-USA Chamber of Commerce and he sat down to have breakfast with big investors in New York, to tell them “come to Spain and bring your money”, the Government he presides over confirmed that there will be a third leg in his persecution to those who have more.

Pedro Sánchez greets a group of Wall Street investors.

And it is that the Congress already processes the taxes to the big banking and the one who will detract “the benefits from heaven” to the energy companies. But now we know that “for weeks”, the Treasury “studies different alternatives” so that “people with the highest incomes contribute more at this time of difficulty.”

The tax, Montero noted, it would begin to be applied in 2023 and would only affect “millionaires”. As this newspaper has already explained, it is a new fiscal figure that will be processed as a bill and that it wants to have approved by the Cortes before the end of 2022. In any case, its actual mechanism is still unknown.

Curious, then, on the day of the announcement: there is no measure, nothing has been decided, the minister admits that has not yet decided on the tax, nor the type, nor who to charge it to… but he does not make it known on the day that Sánchez shook the hands of the richest on Wall Street.

rich and entrepreneurs

This Thursday, Sánchez met at the Economic and Commercial Office of Spain in New York with senior officials from some of the largest investment funds on Wall Street. Among them, ARes Management, CarlyleGroup, J. P. Morgan, KKR, L-Catterton, Providence Equity Y AmCham.

All of them have been made aware of the Spanish “resilience” in the fight against inflation and increases in interest rates. He has explained to them the measures adopted against the energy crisis and the high gas prices. And in that speech he has introduced what he considers the Spanish strengths in which it expects to see the investment of these financial groups: the digital agenda, the design and production of semiconductors, the electric vehicle and the commitment to green hydrogen.

In this regard, Sánchez boasted that thesupported by the energy transition, has led Spain to 58% of installed power is from renewable sources. He recalled that our country acts as a port and gas supplier for Europe, thanks to having a third of the EU’s regasification capacity, and stressed that this is the reason why we do not depend on Putin’s “blackmail”.

The president insisted that the “undoubted feeling of uncertainty widespread throughout the world”it can be combated with policies determined to “accelerate the inevitable processes”, such as digitization and the energy transition.

Sánchez’s commitment was to combat one of the secondary effects of the economic crisis driven by the effects of the war, the “loss of confidence”. A) Yes, he appealed “to prudence and data”.

The truth is that the data shows that the State expects to collect this year more than 30,000 million euros above what was budgeted, not only because of the “solid progress” of the economy, but also because of the price inflation huge amounts in indirect taxes to public coffers.

But the president glossed over this point, which would have led him to explain the paradox of the day: while inviting the wealthy to breakfast in New York, his finance minister was preparing a “new tax” for them.

Yes, the president spoke about the evolution of the indicators. Supported by the fact that, according to the ECB and other international organizations, the growth of the Spanish economy will be greater than that of the euro zone both this year and in 2023, he certified before the investment banking executives “solid and well-established economic growth”.

He affirmed that Spain will grow more than the eurozone and the EU in general, and pointed out that employment is growing at 3.3% per year, “and with higher quality jobs”, thanks to the labor reform “agreed with unions and employers”.

…the same businessmen with whom he no longer meets or closes agreements. To those who no longer invite Moncloa to inaugurate the political course. Those who refuse to reach a “rent agreement” with the workers as long as the State does not “put its own”. That is to say, that it collaborates with its “resilience” with measures to “contain civil servant salaries and pensions,” according to CEOE sources.

Those who do live in “uncertainty” because they have seen how, since the Debate on the State of the Nation, in July, Sánchez has raised taxes on three sides: either by executives of an energy company, or by bankers, or by being simply citizens with money to investlike those who had breakfast with the president this Thursday in New York.

Source: Elespanol

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J. A. Allen

Author, blogger, freelance writer. Hater of spiders. Drinker of wine. Mother of hellions.

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