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27 May - 2 June 2019 | 326 comments (326 topical, 0 editorial, 0 hidden)
Re: Europe (4.00 / 4)
Regrettable that it's the Fascists doing this eminently sensible and necessary thing.
Even more regrettable that they will quite likely get away with it, and that it will probably work just fine.

In fact what is truly regrettable is that Tsípras didn't have the guts to do it.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Tue Jun 4th, 2019 at 04:23:16 PM EST
[ Parent ]
Re: Europe (none / 1)
Yeah.

I thought it would be 5* that would pull it of, given Italy's economic strenght within the EU, and 5* opposition to austerity. But now it looks like it is the fascists who will do it and be credited for breaking the economic prison of the euro. One more reason not to ally with fascists, if it was needed.

by fjallstrom on Tue Jun 4th, 2019 at 08:06:17 PM EST
[ Parent ]
Re: Europe (none / 1)
Then again, the same fascists plan to introduce this neo-lib wet dream: a regressive "flat tax" of 15 to 20% max, regardless of income.

What is Italy's flat tax and who would it benefit? - The Local

After initally proposing a flat tax of 15 percent, the party now proposes a two-tier flat tax of 15 percent on annual earnings of up to €80,000, and 20 percent for incomes above this threshold.

The 2019 budget law introduced a 15 percent rate for self-employed people on up to €65,000 a year.

Forza Italia politician Renato Brunetta said that the idea of the flat tax is to cause a "fiscal shock that will enable the country to escape the trap it's stuck in", and increase growth levels to "more than three percent".

Oh, and in addition to other tax breaks for wealthy foreigners:

Super rich buying up Italy's mansions under new tax regime - Guardian

The client, a northern European entrepreneur who Heath declined to identity, is part of a growing influx of the global super-rich to Italy exploiting a little-known tax break that allows the world's millionaires to pay a "flat tax" of just €100,000 no matter how much money they earn.

"There has been a huge spike in interest among the global wealthy since the tax change," Heath says in his office overlooking a picture postcard perfect view of the Ponte Vecchio in the heart of Florence. "There was an immediate 17% increase when the law changed in 2017 and, now that they [the wealthy and their advisers] are convinced that the tax break is here to stay, we are getting 350 qualified requests a month.

"People love this. You get the same sort of tax savings you get in Jersey [and other tax havens] but you get to live somewhere you actually want to live."

by Bernard (bernard) on Thu Jun 6th, 2019 at 06:14:40 PM EST
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27 May - 2 June 2019 | 326 comments (326 topical, 0 editorial, 0 hidden)
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