Thousands of protesters on Thursday took to the streets of Ecuador’s largest city, Guayaquil, to protest against the policies of President Rafael Correa, especially new tax proposals.
The Guayaquil demonstrations, led by Mayor Jaime Nebot, were part of the third week of protests against Mr. Correa’s government. On Thursday mass protests also took place in Ecuador’s capital, Quito, and in other cities.
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A bill to tax inheritances up to 77.5% and a 75% tax for capital gains from real estate ignited protests which included complaints about other economic policies of the government and what critics describe as President Correa’s dictatorial attitude.
95% of businesses are family-owned, according to the WSJ report.
Whether the protests have any effect remains to be seen. As Oswaldo Toscano puts it, Correa Is Not Ecuador’s Problem, Socialism Is