Whether it is called a "supertax" or a "solidarity contribution", the only certainty is that it has nothing to do with a property tax or with the Prodian Eurotax of 1997. The Government's latest idea to raise a good share of the 20-25 billion needed to reach a balanced budget in 2013 is an additional personal income tax on medium-high incomes. The decree that will be issued tonight the Council of Ministers should establish a levy of 5% on the portion of income of employees and self-employed workers between 90 and 150 thousand euros. Beyond this wealth limit, the rate rises to 10%.
It will not be an isolated intervention, but will have a duration of at least two to three years. Only the "golden pensioners", already affected by a similar provision contained in last month's maneuver, and civil servants, who until 2014 will suffer cuts in payrolls for incomes exceeding 90 thousand euros, will be excluded. But in all likelihood even the big tax evaders will be able to get out of the web, especially those who can afford to put their accounts in the name of companies based abroad. The risk is, as always, that the greatest assets will once again be able to save themselves, but in the face of the burning house and the pressing requests of the EU, putting your hands in the pockets of Italians is almost inevitable.
However, there is another possibility, supported by the governor of Bank of Italy Mario Draghi. In essence, it would be a question of repeating the 2005 contribution, increasing the highest marginal income tax rate by 2%, currently at 43%. If this path is chosen, the Italians with lower salaries will also pay, starting from 75 thousand euros per year. Another key provision of the anti-crisis decree being approved is that on the taxation of financial income.
All rates will be harmonized at 20%, which would mean an increase of 7,5% for the levy on shares, bonds and funds (currently at 12,5%) and a reduction of 7% for that on bank and postal deposits (now at 27%). The only securities not to be affected by the level would be BOTs and BTPs, which would continue to be taxed at 12,5%. The risk that investors will stop buying our government bonds is obviously already high enough. (c.mu.)
