A fiscal big bang to meet the challenges of the 21st century.
In a note published by the Circle of economists ahead of the Aix-en-Provence meetings from July 8 to 10, Alain Trannoy proposes taxing land to reduce taxation on capital and labor which weighs very heavily on the economy.
A potentially explosive reform that he thought up with Étienne Wasmer…
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The starting point?
France has a considerable land heritage valued at some 7,000 billion euros.
However, the real estate market is experiencing major dysfunctions (high vacancy rate, substantial transfer rights, difficult access for young people to property, etc.) which limit its operation.
These flaws are partly linked to real estate taxation which results in “
discouraging rental investment since it is the only taxed income, in favor of wait-and-see and speculative attitudes”
, indicates Alain Trannoy
.
In an attempt to counter these “
harmful
” effects, successive governments have not…
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