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Exclusive: Brazil to cut electricity taxes to boost economy

Yahoo -- SAO PAULO (Reuters) - President Dilma Rousseff plans to cut and simplify taxes for electricity producers and distributors, two senior officials told Reuters, as part of a strategy to reduce Brazil's high business costs and stimulate its struggling economy.

Brazil has been on the brink of recession since mid-2011 as high taxes, an overvalued exchange rate and other structural problems squeeze what had previously been one of the world's most dynamic emerging economies.

Rousseff has in recent months announced targeted tax cuts for stagnant sectors such as the automotive industry, embracing an incremental approach to reform that has drawn criticism from investors who say more drastic changes are needed.

But the officials, who spoke on condition of anonymity, said the tax reductions for elec

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Submitted May 15, 2012 By: mastermariner

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carranco Champion Author Georgia Posts:1,027 Points:269,015 Joined:Dec 2008	Message Posted: May 15, 2012 8:04:27 PM Ignore carranco Report Abuse Even though Obama only has a few months left, we should probably send him to Brazil for a few days of economics training.
BurtB Champion Author Los Angeles Posts:5,164 Points:1,366,090 Joined:Jun 2006	Message Posted: May 15, 2012 11:16:05 AM Ignore BurtB Report Abuse Instead of Government polices that "feel good" someone in Brazil decided to do something that has a history of working. some Brave Brazilian politician chose "helping their country", rather than "pandering for votes". Gives you a little faith in Humans again.
WildmanMick Veteran Author North Carolina Posts:426 Points:316,540 Joined:May 2011	Message Posted: May 15, 2012 9:36:39 AM Ignore WildmanMick Report Abuse "The focus is as much on simplifying taxes as reducing them," a second official said. - What a novel idea!
drpepperTX Champion Author Texas Posts:8,945 Points:752,210 Joined:Apr 2011	Message Posted: May 15, 2012 9:19:38 AM Ignore drpepperTX Report Abuse Looks like President Dilma Rousseff understands that the best 'stimulus' is to cut taxes NOT spend other peoples money.
fracknsave Champion Author Grand Rapids Posts:1,666 Points:58,000 Joined:Mar 2012	Message Posted: May 15, 2012 8:53:49 AM Ignore fracknsave Report Abuse that which can be lowered can also be unlowered
wrunner Champion Author Virginia Posts:4,440 Points:1,136,360 Joined:Dec 2009	Message Posted: May 15, 2012 8:40:20 AM Ignore wrunner Report Abuse Wonderful!
TripleHs Champion Author Austin Posts:3,355 Points:916,590 Joined:Oct 2009	Message Posted: May 15, 2012 8:38:32 AM Ignore TripleHs Report Abuse makes sense
Amplion Champion Author Oregon Posts:6,767 Points:1,865,060 Joined:Sep 2005	Message Posted: May 15, 2012 8:13:35 AM Ignore Amplion Report Abuse Looks like President Dilma Rousseff is clearly a smarter than OBOZO & HIS CRONIES !!!
Nikontraveler Sophomore Author Los Angeles Posts:168 Points:507,910 Joined:Mar 2011	Message Posted: May 15, 2012 7:57:34 AM Ignore Nikontraveler Report Abuse The good news: Some one figured out how the machine works. The bad news: It wasn't Obama and friends.
fjkcpa Champion Author Houston Posts:4,511 Points:602,210 Joined:Nov 2005	Message Posted: May 15, 2012 7:41:19 AM Ignore fjkcpa Report Abuse -fedupMN Silly Rabbit
fedupMN Champion Author Twin Cities Posts:2,949 Points:572,480 Joined:Mar 2011	Message Posted: May 15, 2012 7:31:41 AM Ignore fedupMN Report Abuse So will they pass along those savings to the consumer or keep it for themselves.
bills299 Champion Author Atlanta Posts:3,366 Points:904,490 Joined:May 2005	Message Posted: May 15, 2012 7:29:45 AM Ignore bills299 Report Abuse Sounds good!! Others should follow!!
LilRedWagonIN Champion Author Indiana Posts:7,776 Points:1,554,385 Joined:Oct 2008	Message Posted: May 15, 2012 7:27:50 AM Ignore LilRedWagonIN Report Abuse Amazing theory. Too bad we don't have an administration that will try cutting taxes to boost our economy.
roadrunnin Champion Author Richmond Posts:1,749 Points:564,160 Joined:May 2008	Message Posted: May 15, 2012 7:13:48 AM Ignore roadrunnin Report Abuse will be interesting to see if it works