Almost insensitive to the crisis, the French household wealth, driven by soaring real estate, rose sharply in 2010, one more reason some economists close to the left to challenge the recent decline in property tax
According to a study released Friday by the National Institute of Statistics and Economic Studies (INSEE), household wealth, which represents nearly 80% of national economic assets, surged 9.1% last year after a slight air pocket for two years
A 10203 billion euros at end 2010, exceeding its 2007 level, before the economic crisis
This is essentially the soaring real estate prices that explains this improvementThus, "non-financial wealth of households, consisting mainly of real estate assets, is recovering significantly," 10.5% after falling 2.5% in 2009, says the instituteIn late 2010, he was 7463 billion euros
The growth of household financial assets, it "bends but remains strong", with an increase of 5.5% after rising by 10.1% in 2009It reaches 2740 billion in late 2010, with life insurance which remains the preferred placement of French
"The jump heritage is somewhat fictitious, since it is due to housing which better held in France than elsewhere," said Christian Saint-Etienne, professor of economics at Paris-DauphineIt also notes that these are 2010 figures, when the Paris Bourse had taken the colors after the financial crisis, which does not take into account "the impact of this summer"- "Beautiful property, beautiful land" - "But overall, this confirms that France is a country rich with a beautiful estate and beautiful land," he said
"Beyond the crisis, we live in a historical period of great prosperity, wealth," adds Thomas Piketty of the Paris School of EconomicsThis specialist in high-income, close to the Socialist Party, said even that "we must go back a century, the Belle Epoque, to find such a relationship between income and wealth"
According to calculations by the INSEE, household wealth in 2010 corresponded to eight years of their net disposable income
For Thomas Piketty, this explosion can not be explained only by the rising price of the stone"It is also necessary that there are people who can afford to support ongoing real estate! Wealth holders are doing well," he insists
As a result, the slayer of the decline in the solidarity tax on wealth (ISF) sees one more reason to criticize"Do not kill the heritage, but this is not the time to reduce taxes on capital," Thomas Piketty ton
The economist argues that the ISF reported, before the reform conducted this year by the government and denounced by the left, about 4 billion euros a year, a wealth of households over 10000 000 000 000
"It was already very small, and the government still decided to divide it by two so that a crisis of public finances and it is found to increase the tax that hits everyone," protested it
Christian Saint-Etienne into perspective, however, the decline in the TFR"All other taxes and capital gains were heavily burdened," he said
By Francesco FONTEMAGGI |
