My dear impertinent ones, dear impertinent ones,
Today we are going to talk about the risk of bankruptcy of the French State and the analytical reasons which unfortunately plead for a failure by Barnier who risks struggling to redress the situation.
For what ?
Because for 2025, and despite all the efforts announced according to Matignon and Bercy themselves, public spending will increase by another 2.1%, above and beyond inflation.
It is not the recovery of public finances, it is the confirmation that our spending is totally out of control because no one anymore has the courage to define what is fair solidarity and what depends on a necessary personal and individual responsibility.
I insist on this idea. There is no viable social model if it is financed by debt. And if it is financed by debt, it is because we do not want to pay the cost through taxes, because our model cannot be financed by “normal” taxes.
This means that our social model is too generous.
The back-to-school bonus? 2 billion euros. That of Christmas to give yourself gifts (more than €150 for a single person without children) is 500 million. In total? 2.5 billion euros on these two examples of “gifts” which are individual responsibility, in no case just solidarity, necessary solidarity.
The return of the rating agencies.
This all comes in a context where by the end of November the three biggest rating agencies will give their verdict on the financial state of France.
Hold on to your seat belts, because this month of pink October could well turn into red October… especially with what is happening in the Middle East.
For taxation, the suspense is at its height and you will have as many flash strategies as necessary.
The file “Reduction in rates, increase in taxation, how to navigate it” is available in your reader areas for download.
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I wish you a good reading of this file entitled “Reduction in rates, increase in taxation, how to navigate it.”
It’s already too late, but all is not lost.
Get ready!
Charles SANNAT
“Insolentiae” means “impertinence” in Latin
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