The property tax will be the tool for the false tax relief

Italian economic policy, or rather the little that remains of it after everything has been bound by the diktats of the European and Brussels Treaties, still active, but suspended, is about to reach its own Redde Rationem, the one that will separate a situation at the "Monti 2011 ”By a true expansionary policy, while respecting the balance of the budget.

At present the Montian ghost, that of austerity, which translates into a forced impoverishment of a large part of the population, seems to prevail. On The truth Giorgio Spaziani head, president of Confedilizia, launches a clear alarm on the revision of the land registry: "The delegation law of the government is so vague as to pave the way for a sting". at the same time, Daniele Franco has set the primary budget balance as a goal for 2024. This means that the very few, 7 billion in tax relief promised by Draghi, less than 1% of revenues, and which will then be divided into several streams, will be compensated immediately from more revenue. Which ? well the government, with the tax delegation on the land registry, sends an unequivocal signal: with a form of property taxation on the house . Or with cuts to the welfare state. We have already talked about the objective cuts in disability allowances, linked to the introduction of the “zero income” requirement to be able to take advantage of them. The discussion on "Quota 102" or "Quota 104" are just another way to postpone the retirement age, just at a time when life expectancy, with covid-19 and its consequences on the health system, it is getting smaller.

Beware that the hypothesis of equivalence between cuts in outgoings and increase in income turns out to be optimistic. The government will face two further problems:

• the stagflationary crisis that will have a heavy impact on consumption, and therefore on the income and fiscal capacity of the government. This is an evident factor that will have a great political and social weight;
• the push for the “Reform-non-reform” of the Stability Pact, which sees the two pivotal countries, plus a few Nordic acolytes, unwilling to make concessions to Italy. on the contrary, today the ESM is back and its intervention, only slightly remodeled, which, as in the previous version, provides for the reduction of the debt with a 5% primary surplus per year or, alternatively, the intervention of the ESM in the case of "Unsustainable debt". A colossal trap specifically dedicated to our country …

So both the financial and the European negotiations are expected to be complex and suggest threatening clouds on the horizon. The Draghi government was also born to better protect Italy in Europe, but, for now, there are no particular steps forward compared to previous managements.

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The article The property tax will be the tool for the fake tax relief comes from ScenariEconomici.it .

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This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/limposta-patrimoniale-sara-lo-strumento-per-i-finti-sgravi-fiscali/ on Mon, 25 Oct 2021 12:00:44 +0000.