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Opinion: Brazil’s CPMF Tax Resuscitated?

Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL - There is a Brazilian saying that goes “Farinha pouca? Meu pirão primeiro!” That translates, roughly, into “Not enough flour? My gravy comes first!” Everybody in Brazil knows there is a lot less flour than there was six months ago, so everybody wants their gravy first. Sadly, the gravy train must pass through a station called Congress.

Everyone is clamoring for more money. Vice President Michel Temer, who had promised Congressmen . . .

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