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the government thrives on commercials and often teasing. The reform of Tax both what was announced by Gualtieri and Conte actually hides a dramatic scam for the middle class. In fact, the Giallorossi executive has repeatedly stressed that there will be an intervention in personal income tax rates that should reactivate the middle class. But behind this promise is a bitter truth and it is time to make it clear. Let’s start with the currently planned scheme first.
How it works now
Regarding income from 0 to 15 thousand euros, a rate of 23 percent is applied. What does that mean? Whoever has a gross income of 15,000 euros will owe the State 3,450 euros. The higher you go, the stronger the blow will be. Those who have an income between € 15,001 and € 28,000 must pay the State 27 percent on 15 thousand euros and 27 percent on those that exceed 15 thousand. The same happens with income between € 28,001 and € 55,000. In this case, the calculation is done quickly: a share of 6,960.00 plus 38 percent of the excess will be paid to the State. Then, between 55,001 and 75,000 euros, 17,220.00 euros remain in the field, in addition to 41 percent for the excess. Above 75,000 euros, on the other hand, the rate is 43 percent, to which must be added 25,420 euros. And in this tangle of tariffs the final blow of the Giallorossi government must intervene. The revision of the tax system would be inspired by the German system.
The hit
The main objective, according to Huffpost, which could see the scheme that the government wants to implement, is to strengthen the intermediate range. How? By reducing the rate from 38 percent to 34 percent and increasing the rate from 43 percent to 45 percent. A movement that only in words relaunches the middle class. In this way, in fact, the intermediate income brackets would be reinforced but the true middle class would be penalized (and strongly and arbitrarily), that is, that band of taxpayers with a salary that exceeds 2000-2500 euros net per month that it is really capable of restarting the economy with greater purchasing power. Punishing and hitting the upper-middle range (which then considering net worth is certainly not part of the “wealth” world) could lead to an even stronger contraction in consumption. The new reform should make its debut in January 2022. But, in fact, the Giallorossi executive already aims to give some first signals next year.
The true middle class is punished
Ultimately, the ideology of punishing so-called wealth has found space between government seats, which for a handful of votes more is willing to give a few crumbs only to certain income brackets. All without worrying about a fundamental aspect of this story: those who earn the most are more likely to consume. Those who tighten their belts will continue to do so. Surely it will not be 50 or 100 euros more to restart the consumption of the lower income sections. However, the scenario that awaits us is this. Finally, there is another aspect to consider: raising the rate from 43 percent to 45 is just one of the “blows” that the true middle class will face. Each month the deductions are different and they certainly do not stop at the Irpef. Just think of the social security contributions withheld on the pay stub and all other taxes to pay. In short, we are again faced with another disaster signed by Conte & Co.
