Comment by santiagogo
9 years ago
Since a couple years back, we have a 1% tax on wealth in Colombia, which applies to anyone who has above approx. 330,000 USD in assets
I don't think it has disincentivated anybody from becoming less wealthy and/or working less. It just incentivizes tax evasion, but even that is not significant.
On the other hand, a large number of social programs have been built around this new tax. Anybody in the country could get cancer and would get free decent healthcare.
How much is a normal house in Colombia?
It’s a big country, so it really depends a lot on which city you live in and and what you consider a normal house. It ranges from $20,000 USD for a rural house near a small town to $150,000 for a 2-3 bedroom apartment in Bogota which is the capital.