Bolsonaro Calls Brazil “Broke”, Says He Can’t Do Anything; Economists Differ

The raising of the personal income tax exemption brackets was one of Bolsonaro's campaign pledges that never materialized.

RIO DE JANEIRO, BRAZIL - On his first working day in 2021, President Jair Bolsonaro said that Brazil is "broke". To supporters, he said he "can't do anything" and mentioned as an example possible alterations in the Income Tax withholding brackets.

"Brazil is broke, man. I can't do anything. I wanted to change the Income Tax bracket, then there was this virus, powered by the media, this media with no character," said Bolsonaro to a supporter upon leaving the Alvorada Palace.

The extension of the personal income tax (IRPF) exemption is one of Bolsonaro's campaign pledges that never . . .

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