Taxation and savings are inextricably linked. While taxation puts more money in the government’s hands, it also decreases private savings by leaving people and firms with less income to save, invest, and grow the economy. Despite this clear relationship, the negative impact of taxation on private savings is often the blind spot when policymakers tackle tax reform in Latin … [Read more...] about Rethinking Taxation to Protect Savings
Carola Pessino is Principal Economist of the Fiscal and Municipal Management Division of the IDB. She holds a Ph.D. in Economics from the University of Chicago. She was Secretary of Fiscal Equity under the Chief of Cabinet of Ministers (with a rank of minister) in Argentina and member of the Economic Council of Advisors to the Finance Minister of Argentina between 1996-1999. During her tenure in government, she designed and implemented major projects, including the System of Social Work and Social Security, federal co-participation in taxes, and the design, implementation and management of the first integrated system of information for tax and social purposes (SINTyS) in Latin America. She was director of the Economics department at CEMA University; professor and director of the Center for Poverty Studies at Torcuato Di Tella University; a professor at Duke University, and a visiting professor at Yale University.