EconomyAccording to INSEE, the tax reforms of the past...

According to INSEE, the tax reforms of the past two years have mostly benefited the wealthiest.

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Is Macron the President of the Rich? A report released on Tuesday by INSEE sheds light on the policies pursued over the last two years of Emmanuel Macron’s presidency. Two years of crisis, between Covid-19 and rising energy prices. And this is an observation that will not necessarily please the executive branch. “Permanent” measures, which should be long-term, benefit the richest. The most modest households, for their part, have mostly benefited from “exceptional” measures, which in the long run must be questioned.

In detail, taking into account long-term assistance, on the one hand, such as a reduction in income tax in 2020, the continuation of the abolition of housing tax in 2020 and 2021, or the reassessment of the minimum age for old age, and on the one hand, on the other hand, one-time assistance, such as inflation check or energy check, these measures have saved 280 euros on average per year per person in 2020 and 40 euros in 2021 for beneficiaries.

Slight increase in poverty

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But “this increase mostly benefits the wealthiest half of the population, who are especially concerned about major long-term reforms,” ​​INSEE explains. The permanent measures “cause an increase in the standard of living by an average of 470 euros per year” for the richest households “versus 90 euros for the most modest 50%”. Exceptional aid, designed to mitigate the impact of the 2020 health crisis and rising energy prices in 2021, has been a major factor in improving the lives of the poorest 20% of the population.

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Among the reforms that have most affected the most modest are the increase in tobacco prices, which reduced the standard of living of the French by an average of 50 euros. 50 euros, which is clearly not in line with the budget of a rich family and a dysfunctional family…

The permanent measures implemented in 2020 contributed “to an overall 0.3 point increase in poverty, but the exceptional measures in 2020 would have contributed to a 0.5 point decrease in poverty in 2020, but they were not renewed in 2021.” INSI. “The cumulative effect of all these measures for 2021 is +0.1 points on the level of monetary poverty,” continued the Institute of Statistics.

Source: Le Parisien

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John
John
I am John Casanova. I am an author at 24 news recorder and mostly cover economy news. I have a great interest in the stock market and have been writing about it for many years. I am also interested in real estate and have written several articles on the subject. I am a very experienced investor and have a lot of knowledge to share with others.

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