why Eric Ciotti needs to assault the “death tax” | EUROtoday

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Eric Ciotti, deputy for Alpes-Maritimes and president of the Les Républicains party, at the National Assembly, in Paris, April 10, 2024.

Published on May 23 in Le Figarothe title of the column is specific: “We want the death of the death tax”, write Eric Ciotti, president of the Les Républicains (LR) social gathering, and François-Xavier Bellamy, head of the right-wing record within the European elections on June 9. In truth, the primary handed the pen to the second, whose arguments to defend this initiative are as a lot financial and political as philosophical. “We have a tax system that slows down the transmissionaccuses the MEP. I believe in transmission, whether of values, culture or goods. »

In his party, the idea is not disruptive, but Eric Ciotti claims his consistency on the subject. “This is one of the themes that allowed me to emerge during the primary for the presidential election in 2021”, admits the previous shock finalist towards Valérie Pécresse. At the time, the deputy for Alpes-Maritimes sought to embody a extra economically liberal proper and took over the idea of “death tax” by the American economist Milton Friedman (1912-2006). After having defended, within the Nineteen Sixties, the concept that a market economic system with out inheritance was viable, Friedman subsequently denounced a tax that he thought of immoral.

In 2021, candidate Ciotti took up the work of the American economist to defend the thought of ​​eliminating inheritance taxes on belongings of lower than 5 million euros. Today, he’s calling for aligning the inheritance tax system with the best-selling deduction in Europe, specifically Italy, or 1 million euros, in comparison with 100,000 euros presently per inheritor.

High value

Inheritance taxes have been diminished and even eradicated within the majority of the thirty-eight OECD international locations, partly because of their unpopularity. An argument taken up by Mr. Ciotti. “The left doesn't understand it, but the French have common sense and say that you cannot have worked a whole life and be taxed again on this heritage”he says.

The argument of unpopularity makes Guillaume Allègre, economist on the French Observatory of Economic Conditions and writer of a number of works on inheritance, smile. “The proper is attacking inheritance tax on the grounds that it’s an unpopular tax. But she forgets to remind that the ISF [l’impôt de solidarité sur la fortune] was the most well-liked tax. If we take this argument, we must always reinstate the ISF. But this isn’t actually LR's want. » Not to say that, in truth, a big proportion of French individuals are not affected by inheritance taxes, because of the reductions and exceptions already in pressure.

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