domingo, junio 14, 2015

6 key points about the opposition protests in Ecuador


The Citizens’ Revolution commands broad support from a cross-section of Ecuadorean society, including support from the middle-classes, however there is great resentment from the wealthy upper classes who begrudge the fact that, after previously ruling the country for so long, they no longer wield the same political power. This is despite the fact that Ecuador is one of the best performing economies in the region

The Wealth Redistribution Law, which prompted this latest round of protests is a measure specifically designed to target the wealthiest in the country, affecting a mere 2 percent of the population. The law provides a progressive taxation schedule, meaning those inheriting more will pay more. Only three out of every 100,000 Ecuadoreans will ever receive an inheritance greater than US$50,000. 

Those calling on people to protest are looking to protect their own interests. Unlike other opposition demonstrations in Ecuador, the class character is clear. Those protesting are among the wealthiest in the country who want to keep their economic power and perpetuate the inter-generational transfer of wealth. In Ecuador 2 percent of the population controls 90 percent of big business, giving them a disproportionate amount of wealth and influence.

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