It has been three consecutive years that the finance bill ultimately allows public debate to open up to its main orientations. It is a new phenomenon which contrasts with the passage in force with 49.3 used by the various prime ministers who have followed one another since the second term of Emmanuel Macron.
This debate has notably the consequence of underline the requirement of a radical alternative to the proposed choices, particularly if it is, as declared by each of the last tenants of Matignon, to retreat the debt.
How to resolve this question. If there is a real tax justice problem, it cannot be treated from the only angle of the distribution. Of course the population is very sensitive to this question of distribution of wealth and therefore to tax the rich when they have never accumulated so much capital and that the rest of the population is dangerously detected. And this is the idea that transpires from the Zucman tax proposal. This measure appeals but is not enough and even risks locking up the debate in an equation whose MEDEF very quickly grasped the scope until it makes a kind of caste belli so that we do not look elsewhere.
Because it is essentially elsewhere that the issues are located. That is to say in the creation of a new relationship with companies with the aim of interacting on how to produce wealth and on the use of money thus generated; This implies intervening at this level and not when this money joined the portfolios of a few billionaire shareholders. Because on the way many will have escaped, escaped, with little chance of recovering it one day.
The central question is therefore to reconnect with real efficiency, which does not necessarily make it possible to reach a single increase in samples from the rich. If this money is only used to fill holes that we dig on the other hand, it is sterile! Get out of the vicious circle “Debt-Deficit” deficit “supposes two levels of intervention.
On the one hand, it is a question of establishing real fiscal justice which begins with a new taxation of companies with a tax on companies (IS) progressive and incentive, because it is modulated according to the use of benefits for employment, training, ecology or to relocate and swell dividends. Indeed, a recent INSEE report indicates that the decrease in the IS rate has mainly benefited large companies, which see their effective rate drop from 19.1 % to 14.1 %, less than 5 points while, for SMEs, it drops from 23.1 % to 21.4 % (- 1.7 points). For very small businesses it only increases 0.4 points.
This first lever of the IS modulation would be accompanied by two others. We would set up a local tax on the capital of companies in order to dissuade capital waste and an ISF integrating professional goods whose base would be modulated according to their contribution to a healthy and effective development, that is to say participating in particular in developing added value. Likewise, the taxation of people would be oriented towards a deterrent tax on the income of the rent and a reduction in VAT. It should never be forgotten that VAT is paid by the end consumer, that is, in the vast majority of cases by the particular taxpayer, companies benefiting from the principle of deductible VAT, which represents an amount of more than 80 billion euros.
The second engine to activate is that of expenditure. For a new offer based on job creation in public services and in a decarbonized industry. It is actually advanced to initiate a healthy and effective revival of growth in our country. For years we have been at a low, even sluggish level of growth. The consequences are measured. It is a general impoverishment of the country, not only in terms of purchasing power, but in the field of employment, particularly qualified employment with a worrying subsidence of industrial and agricultural production and a strong disintegration of public services (hospital, school, transport, energy, etc.).
Remedy this situation involves another level of intervention than the tax component, because it is not only to distribute and use the wealth created today, but to increase it. You have to enlarge the cake. And for that it takes money that the country does not have at the moment T, which supposes to turn where it can be created and loaned, that is to say the banks.
This is why we propose to create an advance fund for the development of public services funded at 0 % by the public banking center made up of the Caisse des Dépôts, the Public Investment Bank and the Post. A convergent battle would be waged at European level so that the ECB refinance at zero rate the public banking pole.
We also propose to use a part (25 billion euros) of social security contributions exemptions (80 billion out of 221 billion public aid without control to businesses) to improve (management) the interests of bank loans to companies provided that they develop employment, training and are ecologically converting.
This injection of money placed under the control of employees and citizens, articulated with a new taxation encouraging in another way of producing wealth, and therefore distributing them, would constitute a powerful vector of recovery of healthy and effective growth. It would allow France to get out of the rut of the budget deficit and to reconnect with a virtuous cycle: absorption of the deficit and swallowing debt, thus subtracting it from the pressure of the financial markets (66 billion euros in interest in 2025) which only worsen the situation.
Alongside those who fight!
Social emergency is the priority of humanity.
- By exposing employers’ violence.
- By showing what those who work and those who aspire to do so.
- By giving the keys to understanding and tools to the employees to defend themselves against the ultra -liberal policies which degrade their quality of life.
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