“The tax burden in Italy has reached intolerable levels”. The warning comes from Enrica Laterza, president of the reunited sections of the Court of Auditors, who recalled how in 2014 the tax burden was 43.5% of GDP. It is the result of the emergency caused by the spread, which produced a barrage of taxes, 700 tax measures between 2008 and 2014, and almost nothing in the reduction of current expenditure.
Too many taxes result in lower collective wealth and, even more worrisome, in the run of human capital with specialist knowledge. The case of the region Lazio is emblematic. As mentioned by the Court of Auditors, the adjustment of the deficit in healthcare was pursued exclusively with the increase of additional Irpef and Irap. In 2014 the major taxes collected by way of additional reached 890 million, but this did not prevent the junta led by Nicola Zingaretti to further increase the additional income tax in 2015 to bring the value intolerable, would the Court of Auditors of 3.33%.
What are the effects of this anti modernity tax burden? Those reported in the latest report of the Bank of Italy last June 16: the exodus of young people and human capital with higher education; loss of international investment; a fall in regional GDP per capita. In 2014, the industrial added value of Lazio fell again by 1.4%. The previous two years had been horrible for the GDP per capita dropped respectively by 2.6 and 3.3%. Taxes without brakes have killed the expectations of economic agents and did run investments. Lazio, in fact, together with the Italian region of Lombardy is more integrated with the international financial flows.
There is a small difference, though. Lombardy attracts more foreign direct investment than it does abroad businesses of Lombardy, while in New York the situation is reversed: 88 billion compared to 35 employees received. The Irap highest in Italy, obviously, keeps away international investors. And taxes are unsustainable escape even the specialized knowledge.
In the three years from 2011 to 2013, young people (25-34) and graduated ones decamped from Laziotartassato: 13.7 and 9.3 per thousand inhabitants. In short, the fiscal policy of Lazio created a terrifying economic environment: less wealth, less investment, and less international graduates, replaced by immigrants. When Zingaretti announced amazing programs pro start-up, someone should remind him the effects of this intolerable taxation. Otherwise his are just words.
Translation provided by Maria Rosaria Mastropaolo