France wants to make one-off wealth tax permanent

France wants to make one-off wealth tax permanent

France's debt rose by 202.7 billion euros to 3.3 trillion euros ($3.55 trillion) last year, accounting for 113% of GDP, according to the official statistics agency. Eric Lombard, France's economic minister, has acknowledged that this is a threat to France's financial stability.

DECRYPTION - In recent years, the number of French people subject to the IFI has continued to increase. Nearly 176,000 tax households were subject to this tax in 2023.

The financial cost of the Green Party's 9 proposed measures

An annual wealth tax would rake in $121 million over 5 years The post The financial cost of the Green Party’s 9 proposed measures appeared first on Investment Executive.

The rich should contribute more, budget tensions require it, according to the government

French Economy Minister Eric Lombard wants to make a temporary tax on the wealthy permanent to make public funding “fairer,” AFP reports. Lombard told BFMTV on Sunday that the measure would be part of an effort to find 40 billion euros in next year’s budget, mainly from savings, to bring the budget deficit to 4.6 percent of gross domestic product (GDP) by 2026. According to Lombard, tens of thousands of French citizens with high incomes will hav…

IEJ is wrong about corporate tax

Photo by Towfiqu barbhuiya on UnsplashThe Institute of Economic Justice (IEJ) has proposed raising corporate income tax to 28% (from 27%), introducing a wealth tax (which sees assets being taxed, even if they are not producing an income), a 25% luxury goods tax, a financial transactions tax, and eliminating pension tax benefits and medical tax credits. This is being pushed as a superior alternative to raising VAT.The IEJ’s proposals are, succinc…