In a particularly critical time in terms of electoral support, Renzi shoots big: cutting 45-50 billion in taxes over the next three years. End of 2018, year of the return to the polls. The Prime Minister has finally realized that the tax burden in Italy in 2015 reached 43.5% and that in 2016 will rise to 44.1%, so on a hot Saturday in July launched the media bomb: the Copernican revolution of taxes .
In the next three years, the premier with the magic wand will make cuts to about 50 billion euro of TASI, IRES, IRAP, personal income tax . Details of the transaction are not yet clear epochal, but in the meantime under the umbrellas of Italians do not talk about anything else and some votes have already been recovered. It is money that will go mainly to older employees and retirees, clubbed IRPEF, IRAP flagellates and charged the hated TASI on the first house. And for young people, who often have VAT numbers without a house on which to pay taxes, unlike the other two categories? Not much, coe we will see shortly.
On the Revolution of the fees filed by Renzi possible reflections are numerous. The first problem to solve is that of shell: to eliminate the need for TASI 2016 5000000000. A plus other spesuccie that the government will have to bear for the indexing of pensions, the release of public contracts, the reverse charge and defusing the safeguard clauses. Total practice: 27 billion euro only in 2016 . To find these resources, as we have already explained at length, in the streets, more or less viable, are four: economic growth (just walking), increased deficit (just passable ), the spending review (which means cutting deductions, linear cuts or lower transfers to municipalities) and increase other taxes (with one hand you cut taxes and with the ‘another will increase, hoping that no one notices).
But the doubts about the Copernican revolution of the charges do not end there. As a note on the blog Noirsefromamerika.org Sandro Brusco, as they say, does not add up. Renzi announced cutting the TASI worth 5 billion, by calculating the expense for the entire three-year period are 15 billion . To which are added another 15 billion for the cutting of IRES and IRAP in 2017 that, in logic, will also weighing on state coffers in 2018 for another 15 billion. But in the third year of revolution additional 20 billion will go to cut personal income tax and for interventions in favor of minimum pensions. Let’s recap: 15 billion to cut the TASI over the three years, 30 billion to cut IRES and IRAP in 2017-2018 and another 20 billion in personal income tax and pensions in 2018, total: 65000000000 . In short or maneuver Renzi worth more than he has announced, or the premier intends to remove the taxes a year and replacing them as if nothing had happened the next year.
The second point concerns the municipalities and municipal coffers increasingly dysfunctional. The abolition of the first house, in the final analysis, it will burden the budget of local authorities will probably be forced to further cuts to services, or to raise other local taxes to compensate for the lost revenue. Here you could also add a talk of fairness: abolish the TASI on castles or luxury homes is not the same thing as abolishing it for a studio in the city where he lives a whole family. Instead of cutting indiscriminate tax on first homes could be left to the municipalities the possibility of renegotiating with the TASI exemptions calculated based on the value of the property and the economic situation of the owner leaving the tax on luxury homes.
The last consideration is not economic, but it is certainly the most bitter . The tax cuts announced by Renzi will go mainly to employees and retirees. According to preliminary indications the Income Tax reduction will follow the road of the 80 euro that affected employees with low and middle income; intervention on minimum pensions affects over 65 pensioners and cutting TASI goes in favor of the upper middle class who was lucky enough to buy a house. This Copernican revolution marginally affect young people, and only those who are lucky enough to have a job . The Prime Minister seems to have forgotten that Italy, reached 42.7% of youth unemployment and, without an extension, 31 December 2015, tax relief for new permanent contracts, only small boost youth employment , vanish into thin air.
It ‘a matter of priorities: first place the interests of the Government, there are the elderly, employees and retirees, those who have a job or a pension and the house property, those that when there are elections line up and go to the polling station, maybe vote for PD. Not like today’s youth who are boycotting the elections because they do not feel represented, vote protest movements or write “Government thief” on the ballot, to those it is better turn your back.
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