By Rich Duprey
Motley Fool
Apparently Mexico never heard Chief Justice John Marshall’s famous dictum that “the power to tax involves the power to destroy,” because the government is setting out to destroy broad swaths of Mexico’s economy as it grasps for more revenues.
From soda to food manufacturers, pet-food companies to the maquiladoras, the companies that export food, Mexican industry is under assault from new tax levies. Gold miners are the latest to feel the brunt of the attempt to rake in more revenues, as the government passed a 7.5% tax on profits of resources plus an additional 0.5% on precious-metals miners.