Today comes the taxes to pay off the Recovery Fund. Are you still convinced that PNRR is something good?

The European Commission is about to propose three new taxes to pay off the € 800 billion debt mountain it plans to issue to restart the EU economy. The package of so-called "own resources ", which will be adopted on December 22, includes taxes on large companies, but also heavy carbon taxes that will fall on all citizens.

“These initiatives require EU action, and thus form an adequate basis for the EU's own resources,” the Commission wrote in a draft communication on the proposals.

The three new taxes are:

• Taxes on the carbon exchange system. The auction system that currently awards carbon emission rights is currently channeling money to nation states for "green" grants. The Commission intends to take 25% of this money which is nothing more than an indirect tax, an excise duty, paid by all European citizens and which will now also be extended to maritime transport. All money that you, we, will pay and that will feed the “Salvifico” PNRR;
• The CBAM, a mechanism for adjusting imported carbon products, is nothing more than a system of duties to be imposed on imports to prevent companies that emit carbon, that is practically all chemical, heavy industries, etc., from going to relocate to the abroad, due to insane European energy costs. Another duty that will be paid by citizens in the form of higher prices on purchased products. Of this tax, 75% will go to the Commission, according to the proposal;
• The 15% share of the profits of large companies not taxed at the European national level should go, in its projects, to the EU, providing an extra four billion a year in extra revenue to the Commission.

The first two items will weigh, as indirect taxes, on the pockets of European and Italian citizens, regardless of their wealth. These are taxes of a regressive nature, that is, they will affect the poor more than the rich: a millionaire does not consume 10 times more energy than a poor man. This is the great miracle of the recovery Fund and the PNRR which will distribute this large amount of financial flows in imperceptible flows economically.

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The article Today the taxes arrive to repay the Recovery Fund. Are you still convinced that PNRR is something good? 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/oggi-arrivano-le-tasse-per-ripagare-il-recovery-fund-siete-ancora-conviti-che-il-pnrr-sia-qualcosa-di-buono/ on Wed, 22 Dec 2021 14:27:12 +0000.