DECRYPTION – The OECD recommends increasing the tax on transmissions to fight against inequalities.
Income and wealth inequalities have grown steadily over the past decades. With a strong concentration at the top of the scale, underlines the OECD in a report which recommends better taxing inheritance taxes. Thus, the richest 10% own on average half of the total wealth, out of a panel of 27 countries among advanced economies. The fringe of the wealthiest 1% owns 18% of the assets. France, where wealth per capita almost tripled between 1995 and 2019, is within the OECD average. This concentration is strongest in the United States: 80% of wealth is in the hands of the wealthiest 10% of Americans.
“There is a mutual reinforcement of income and asset inequalities”, comments Pascal Saint-Amans, Director of the OECD Center for Tax Policy and Administration. Because people with high incomes can save more easily and at a better return than the less well-off.
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