towards a new wealth tax?

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Is this a turning point in the taxation of the ultra-rich? Friday October 31, the Assembly transformed the tax on real estate wealth into a tax on unproductive wealth. What is it about? Real estate assets would still be taxed, but also boats and luxury cars and financial assets such as life insurance.“We arrive at something which allows us to move forward and which really allows, I think, to answer this question which concerns the French, of fairness in tax matters”comments Erwan Balanant, MoDem deputy from Finistère.

But La France insoumise is stepping up to the plate against this new tax, considered less profitable than the IFI, the real estate wealth tax. They did their calculations. Example: a man with assets of 100 million euros, according to them, with the IFI, would pay 1.35 million euros in taxes. With the tax on unproductive wealth, it would be 910,000 euros.“Compared to the real estate wealth tax, which has a progressive scale, here we are on a fixed rate. What is certain is that the largest assets, that is to say multimillionaires or billionaires in terms of assets, will pay less taxes if this system were to see the light of day”assures Manuel Bompard, LFI deputy for Bouches-du-Rhône.

The government camp is also opposed to this new version. This tax was voted on thanks to a motley alliance: National Rally, MoDem and socialists ready to improve this taxation. “It’s positive, even if for us, the account is not completely there, since we want to work again on the rate, work on the floor in order to obviously ensure that we have the best possible return”assures Philippe Brun, PS deputy for Eure.

This tax must pass several barriers, notably the Senate. Taxation of the wealthy continues to be at the center of debate.