An Explosion of Wealth and Prosperity in Latin America? Low Tax Rates are Slowly bringing Latin America into the First World

Even as the West is careening toward socialism and forced redistribution, some Latin American countries are increasingly seen as low-tax havens.

And the numbers of wealthy Latin Americans is growing rapidly. A June 21, 2015 story in Yahoo News detailed the fascinating growth of the super rich in Latin America.

Mexico and Brazil, for example, are increasingly large markets for Porsche and other luxury automobiles. In Peru, Colombia, and Panama, numbers of such automobiles are approaching growth rates of 60 percent per year. Mexico is now second only to the U.S. in new purchases of private jets.

And although there is widespread poverty in South and Central America, measures of human well-being are improving across the entire socio-economic strata.