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But there are tricks:
- As you say, much income from tax on business.
- Much income from non-tax sources, eg Singapore has big investments on markets world wide. Of course this takes some discipline to set up, and probably is out of the range for Argentina.
- Then, there is the running on deficits, creating money and borrowing of money.
Singapore, Hong Kong went one way.
Norway went the way of big investments from oil wealth.
The western democracies however, have chosen a mix of everything self destructive.