The rich are doing more than well in France.
According to the Observatory of Inequalities, which published its second report on the rich in France on Wednesday, they are “significantly richer than 20 years ago”, concludes one of the two authors, Louis Maurin.
Between 1999 and 2019, the average annual standard of living of the wealthiest 10%, adjusted for inflation, increased by 9,100 euros, compared to 3,300 euros for the middle classes.
“The 2017 tax measures have been very advantageous” for the wealthiest, add the authors, in particular with regard to the transformation of the wealth tax (ISF) into a real estate wealth tax (IFI).
4.5 million French people are rich
According to the Observatory of Inequalities, the share of French people who can be considered "rich" nevertheless fell from 8.6% to 7.1% between 2010 and 2019, which does not mean that the wealthiest have become poorer but inequality has fallen slightly.
In the second edition of its "report on the rich in France", which aims to fuel an "informed debate" on this subject, the Observatory of inequalities proposes to define a "threshold of wealth", in the same way as the Insee defines a “poverty threshold”.
By setting this threshold at twice the median income – i.e. 3,673 euros per month for a single person, taxes deducted, or 7,713 euros for a couple with two children – 4.5 million French people are rich, or 7.1% of the population, detail the authors of the report, Anne Brunner and Louis Maurin.
The decline in the proportion of rich households between 2010 and 2019 is explained in particular by the tax measures decided in 2011 and 2012, which affected high incomes, and by the measures in favor of the middle classes decided in 2019 to respond to the anger yellow vests.
Report aims to 'open eyes' to income disparities
If “wealth is not an evil in itself”, the Observatory of inequalities claims to want to contribute to “opening our eyes” to income disparities, and to shed light on a debate on “justice and merit”.
"Inequalities create social tensions because they are perceived as largely unfair", underlines Anne Brunner, who pleads for a "comprehensive reform of the taxation of income, inheritance and heritage", to "refound solidarity and make contribute more to all households, according to their income”.
For the two authors of the report, the challenge is not to "let off steam" on "a narrow fringe of the hyper-rich", the wealthiest 1%, but to broaden the reflection to the contributory capacity of households. many more who "lead a comfortable life".