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The ultrariches, big winners of the Macron tax system

The purchasing power of the most modest households will decrease under the cumulative effects of the budgets of 2018 and 2019.

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This would again be the controversy about the 'president of the rich & # 39; calls, a label that sticks to Emmanuel Macron since the start of his five-year term.

While the delegates have just completed the examination of the draft budget regulation (PLF) 2019 in the finance committee, and that the text will be discussed in the Hemicycle of Monday, October 15, the Institute for Public Policy (IPP), an independent research organization, published on Thursday, October 11, a thorough assessment of the impact of fiscal and social measures in the first two budgets of the Macron era.

Their conclusions are unfounded: the cumulative effects of the 2018 and 2019 reforms will lead to a loss of "Available income" – ie purchasing power – for the 20% of the most modest French (in the range of -0.5% to -1%). For the 60% "intermediary" households (between the poorest 20% and the richest 20%) there will be a profit, up to almost 1%. The largest deficit is recorded by the 20% most prosperous (almost – 1%), with the notable exception of the 1% ultra-households: the latter will see their income rise by almost 6%.

However, over the whole population, the effects of Macron reforms on purchasing power must be positive, 1.2 billion euros by 2019, the IPP researchers explain from the figures in the PLF. In fact, the reduction of compulsory deductions (housing tax, flat tax of 30% on capital income, etc.) will in total be greater than the drop in social benefits.

"High political costs"

But the effects of the Macron tax by the seven economists' valuation models are striking for each category of population and income. For example, the 2018-2019 measures should increase the income of an employee to the number of EUR 32 per month at the end of next year (384 …