While the financing of the ecological transition sparks debates, a duo of deputies from the opposition majority proposes financing it through an “exceptional” and “temporary” tax at European level on the assets of the richest taxpayers.
In a report on property taxation, Jean-Paul Mattei, head of the MoDem deputies and part of the presidential camp in the Assembly, and Nicolas Sansu, a communist opposition deputy, warn of “asset inequalities” in “the increase of more than 20 years”.
“92% of the mass of gross wealth is in the hands of half of the best-endowed households” and “the average inheritance of 0.1% of the largest heirs” represents “around 180 times the average inheritance,” they write. particularly the deputies.
An observation that “directly calls into question our social pact”, considers Nicolas Sansu. This pushes to “question the current framework of wealth taxation”, particularly in the face of the challenge of “climate change”, underlines Jean-Paul Mattei.
Last May, Christophe Béchu, Minister of Ecological Transition, considered that taxing the richest to finance this transition was a “legitimate issue.”
Exceptionally and temporarily tax the rich
Following the line of the Pisani-Ferry/Selma Mahfouz report, which recommends taxing the richest to finance the ecological transition, the two elected officials propose “exceptional and explicitly temporary taxes” on the richest assets at the European level.
“A 5% rate spread over 30 years, based on the net financial assets of the best-endowed 10%, would provide 150 billion euros,” write the deputies.
The deputies will present their report to the Finance Committee on Tuesday, between Emmanuel Macron’s announcements this Monday on ecological planning and the arrival of the draft state budget to the Council of Ministers on Wednesday.
The two elected officials agreed to 26 other proposals. It is not “a great fiscal evening”, insists Jean-Paul Mattei. But PCF deputies will “apply” certain recommendations, especially during budget debates, warns Nicolas Sansu.
They also recommend reviewing the deductions on real estate capital gains, reviewing a system that provides for exemptions after 22 and 30 years of ownership of the property, which, according to them, can lead to speculation and retention in a sector in crisis.
They advise indexing the real estate tax obligation threshold to inflation and “limiting the 30% reduction in the main home.”
The report also proposes hindering certain tax exemption mechanisms for financial income through asset holding companies, revising upward the taxation of life insurance transfers or even “a moderate increase” of three points in the single tax, a single flat-rate rate on capital income.
Source: BFM TV
