Argentina police pepper spray pension protesters

[Avocado]

This is very shameful that the police would pepper spray protestors!

Argentina police pepper spray pension protesters

They were protesting the president's plan to veto measures to raise pensions in line with Argentina's triple-digit inflation.

www.bbc.com

 

[Digital Nomad]

How much would this increase cost the government each year? I read it was something only about $20 USD per month per person. How much is the total that it would actually cost the government?

 

[Sylvie]

They shouldn't be doing this unless people are violent.

 

[Sonja]

How much would this increase cost the government each year? I read it was something only about $20 USD per month per person. How much is the total that it would actually cost the government?

It's a bit less. Here’s the clear explanation so you can understand it:

The new pension mobility bill maintains the inflation adjustment scheme approved through an Executive Order (DNU) signed by President Javier Milei, but it adds an extra 8.1% increase to April’s pensions (the government had already granted a 12.5% increase) to cover the 20.6% inflation rate from January.

Additionally, it’s determined that the minimum pension cannot be lower than 1.09 times the basic basket for an adult (which is published monthly by INDEC and defines the poverty line), which equals $321,600, about $15,000 more than in June.

Finally, the bill proposes that the adjustment formula should consider not only inflation but also salaries. This way, if the inflation rate falls below the Average Taxable Remuneration of State Workers (RIPTE), pensioners would receive 50% of that difference through a semi-annual adjustment.

According to estimates from the Congressional Budget Office (OPC), these changes to the mobility formula would result in an extra cost of 0.45% of GDP for the entire year.

 

[Digital Nomad]

It's a bit less. Here’s the clear explanation so you can understand it:

The new pension mobility bill maintains the inflation adjustment scheme approved through an Executive Order (DNU) signed by President Javier Milei, but it adds an extra 8.1% increase to April’s pensions (the government had already granted a 12.5% increase) to cover the 20.6% inflation rate from January.

Additionally, it’s determined that the minimum pension cannot be lower than 1.09 times the basic basket for an adult (which is published monthly by INDEC and defines the poverty line), which equals $321,600, about $15,000 more than in June.

Finally, the bill proposes that the adjustment formula should consider not only inflation but also salaries. This way, if the inflation rate falls below the Average Taxable Remuneration of State Workers (RIPTE), pensioners would receive 50% of that difference through a semi-annual adjustment.

According to estimates from the Congressional Budget Office (OPC), these changes to the mobility formula would result in an extra cost of 0.45% of GDP for the entire year.

Thanks but how many retirees are there? What is the total?

 

[Sonja]

In Argentina, there are approximately 7 million retirees, which includes both retirees and pensioners who receive benefits from the country's social security system.

 

[CecilM]

In short, the increase that the government opposes is very small, just 17,000 pesos. I don’t think that will destabilize the economy.

 

[oil rush]

In short, the increase that the government opposes is very small, just 17,000 pesos. I don’t think that will destabilize the economy.

Everything adds up though. The biggest issue I have is I don't think he can place the bulk of the pain on lower and middle class. All these increases with transportation and utilities is difficult when it's done so quickly.

Still, I gotta give the guy credit. He is doing everything he said he was going to do. Based on his popularity, people still believe in the turn around story even if it's painful to them.

 

[MikeYoung]

These pensioners can't really complain they can they? I saw today that the USD amount they are getting compared to before is much higher than they were getting. Milei's point is that the Government can't pay out what it doesn't have but a tougher argument when he wants to spend billions on military spending which many locals feel like they don't need.

 

[Betsy Ross]

This is very shameful that the police would pepper spray protestors!

Argentina police pepper spray pension protesters

They were protesting the president's plan to veto measures to raise pensions in line with Argentina's triple-digit inflation.

www.bbc.com

Come on. It's not like they were just peacefully protesting. If you charge the police you probably can expect this sort of thing. Those people were punching the police officers.

 

[Vince]

At least the # of protests compared to before President Milei has drastically gone down. Previous administrations there were big protests everyday. Unfortunately in Argentina we've always had one group complaining about something or another. Something tells me even if the economy improves you would have someone complaining about something.

 

[Digital Nomad]

Come on. It's not like they were just peacefully protesting. If you charge the police you probably can expect this sort of thing. Those people were punching the police officers.

I don't know. It is difficult to tell from the video. Agree they probably went from peaceful protesting to threatening the police but I doubt any of these senior citizens are much of a threat. It looked like there were a few female police officers that got a bit threatened and then started swinging her club which heated things up.

 

[jamess]

Everything adds up though. The biggest issue I have is I don't think he can place the bulk of the pain on lower and middle class. All these increases with transportation and utilities is difficult when it's done so quickly.

Still, I gotta give the guy credit. He is doing everything he said he was going to do. Based on his popularity, people still believe in the turn around story even if it's painful to them.

Many members of La Libertad Avanza don't want the veto applied and are willing to cut more in public spending and state employee salaries, but they don't want pensions touched. That’s how most people think, there are so many areas to adjust, so why go after the most vulnerable? Just look at this poor elderly woman; the cost of her medication increased by 300% from one week to the next. They can’t even cover their basic needs, that’s just outrageous.

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