Even before he was elected president, he entered the Élysée Palace to implement a massive tax credit. That was in 2012, under François Hollande. Emmanuel Macron, a young investment banker, became deputy secretary general of the Élysée to apply the tax credit competitiveness employment (CICE), a tax benefit of nearly 20 billion per year at the time. A decade later, his Minister of Public Accounts, Gabriel Attal, takes stock of Macron's first five-year term: "Between 2017 and 2022, there were 50 billion in tax cuts, half of which for households."
President Macron's first major tax measure alone illustrates the political paradox posed by tax cuts. On the one hand, the replacement of the wealth tax (ISF) by the real estate wealth tax (IFI) has been effective. An evaluation committee on capital tax reforms, led by France Strategy, an organization attached to the Prime Minister, estimates in an evaluation report...
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