This is a well-founded and timely report. Two weeks after a wide-ranging call was launched, at the G20 summit in New Delhi, by economists and politicians to tax the super-rich in the name of tax justice – signed by 139 American and British millionaires willing to contribute without delay – the Free Greens-European Free Alliance group published in The European Parliament, Wednesday, September 20, issued a study urging its passage “From slogan to reality”.
Spain has taken the lead in Europe, launching a temporary and progressive wealth tax. Why don’t other EU members follow suit? »Al-Khidr’s question in the preamble, referring to “Solidarity tax” Established By the socialist government of Pedro Sanchez, beginning of 2023, for a period of two years.
This study, conducted by the NGO Tax Justice Network based on Data on income, wealth and inequalitystatistics from the Organization for Economic Co-operation and Development (OECD) and the works of economists, such as Gabriel Zucman and Emmanuel Saez, evaluate “Possibilities associated with the implementation of a wealth tax”Beside “Eliminate tax abuses by the wealthy”. It offers these shocking numbers: Wealth Tax (ISF) “Moderate and progressive, focused on the richest 0.5%.” Each European country would bring more than €213 billion in additional tax revenues to the public purse each year. The Green Party points out that this “top 0.5%” alone owns nearly 20% of European wealth, compared to about 3.5% for the less wealthy half of the population. Their assets increased by 35% in ten years.
1.35% of the cumulative GDP of the twenty-seventh century
Germany and France, in particular, would have a lot to gain from implementing such a tax on the rich, €65.1 billion and €46.1 billion respectively, but also close behind, namely southern Europe and Italy (with €27.2 billion). Or Portugal (3.7 billion) or Greece (1.4 billion). Unlike the tax passed in Spain or the French real estate wealth tax, the tax proposed by the Green Party would apply to all assets (real estate, bank deposits, company shares, works of art, etc.).
This number is amazing and unprecedented at the European level. These tax revenues will represent 1.35% of the cumulative GDP of the 27 countries, even without taking into account the potential progress in the fight against tax optimization for large fortunes in tax havens, which the Green Party is calling for to strengthen. This is an amount equivalent to a check of 1,083 euros for each European family, which represents a promise of a significant redistribution of the national wealth of countries.
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