The file of the taxation of the most fortunate returns by the door of the European Union. More than a hundred left-wing MEPs and ecologists, as well as a dozen economists and several NGOs, have signed a petition in favor of the creation of an international tax on the fortunes of the ultra-rich.
Relayed in a column in Le Monde published on Tuesday March 14, this initiative aims to “ to introduce a progressive tax on the wealth of the ultra-rich internationally in order to reduce inequalities while participating in the financing of the investments necessary for the ecological and social transition “.
The signatories of the petition propose a taxation of 1.5% from a heritage of 50 million euros – which will have to be determined “ collectively and democratically », and ask the OECD and the UN to launch negotiations on the subject.
Insufficient tax rates
MEPs justify this proposal because of the low effective taxation of the wealthiest people in the world, citing as an example, Elon Musk, who would have paid no federal tax in 2018, according to a Propublica survey unveiled in 2021, which had led to a media standoff between the American billionaire and Senator Elisabeth Warren on social networks (Elon Musk then declared that he was going to pay more than 11 billion dollars in taxes for the year 2021).
In France, ” the 370 richest families are actually only taxed around 2% to 3% “, also underline the authors of the tribune.
The taxation of large fortunes and multinationals has been regularly on the table of political discussions since the coronavirus crisis. Increasing the taxation of high earners in respect of their personal assets is one of the solutions explored by politicians and specialists, while several surveys have shown that by using tax exemption tools, these high earners pay proportionally a lot less tax than other households.
“ How did we get there ? Quite simply because the very wealthy can use elaborate tax arrangements to reduce their tax rate to the bare minimum, which ordinary households cannot do, but also because countries have gradually abandoned taxation on wealth and the capital. A situation which is reminiscent of that which prevails between multinationals and SMEs. On average, the tax rate for SMEs in Europe exceeds 20%, when it stagnates around 9% for digital multinationals, for example »thus denounces the collective in this forum.
Gafa tax
In fact, most of the initiatives aimed at increasing taxes in recent years have mainly concerned the taxation of businesses. At the international level, the G7, then the OECD concluded a historic agreement in 2021 for the establishment of a minimum global tax of 15% on corporate profits – the “Gafa tax”, the deployment of which will not shouldn’t see the light of day before next year.
On the side of the European Union, in the context of the war in Ukraine, a tax on the superprofits of energy companies was adopted last October.
Private jets and super dividends
In France, the proposal for a more ambitious tax, demanded in particular by the Nupes and the RN, was rejected last summer in the Senate. The left-wing opposition had also demanded the establishment of an eco-contribution from companies in the aviation sector when a controversy over the journeys of billionaires in private jets – much more polluting than commercial flights – had erupted in the heart of the summer.
On this subject, the deputy EELV Julien Bayou has also returned to the charge with the preparation of a bill aimed at banning these devices, which will be debated in the National Assembly on April 6.
Another recent French attempt to tax superprofits: an amendment to the Finance Bill of 2023 carried by the MoDem aimed to increase the taxation of dividends from large companies. This proposal had been adopted by the deputies in session before falling by the wayside with the use of 49.3.
The government is divided on the issue: on the Bercy side, any tax creation or increase is rather perceived as counterproductive in a country renowned for its level of taxation among the highest in Europe. But the record profits of some economic actors linked to the war in Ukraine even as the country is going through a purchasing power crisis have made part of the presidential majority more receptive to the idea of increasing business taxes. the most lucrative.