APPENA DETTO DELLA NEFASTA IDEA DI METTERE TASSE PATRIMONIALI E SUCCESSIONE ED ECCO CHI MI DA RAGIONE....RIBADISCO SIETE DEI COGLIONI...DEI POVERI SEMPLICIOTTI COGLIONI!!!
QUESTION: Mr. Armstrong, you obviously have a database on Italy that is without comparison. Nobody else even had a chart on the Italian lira you recently published on the blog. I know you are well aware of the revolutions in Italy and the history. I was wondering do you have any forecast for the next revolution? It seems that the five-star movement may perhaps be the beginning. Any hint about the future?
VDM
ANSWER: Well to give you a target year where it can begin will be 2021. The Five-Star Movement is indeed the prelude. However, the attempt to stay in the Eurozone will be the undoing of Italy. The most threatening issue in Italy that will lead to revolution is most likely an attempt to raise inheritance taxes as being suggested by Brussels.
Culturally, Italy has the lowest inheritance tax in all of Europe. The German inheritance tax rates range from 17% to 50%, depending on your relationship to the decedent. In Italy, the Italian Inheritance Tax (Imposta sulle Successioni) is applied to all the assets worldwide belonging to the deceased if the person is a resident of Italy ONLY. If the person lives outside of Italy, then the tax is applied ONLY to assets in Italy. Where everyone else has generally inheritance taxes of 15% or higher for the immediate family, Italy that rate is just 4%. Here is the breakdown:
- 4% to be paid for transfers to the surviving spouse and children, with an exemption of Euro 1,000,000 for each beneficiary
- 6% to be paid for transfers to brother and sisters of the deceased, with an exemption of Euro 100,000 for each beneficiary
- 6% to be paid for transfers to relatives within the fourth degree of relationship to the Deceased, and other relatives on the spouse side up to the third degree (no exempt amount is available)
- 8% to be paid for transfers to any other (unrelated) parties.
So why do I say that inheritance taxes are the greatest threat to Italy? Rental income in Italy is extremely low. People have plowed their savings into real estate BECAUSE of the inheritance tax. Many have numerous properties and rental income just pays for the taxes and maintenance. If the inheritance tax is tripled, as Brussels suggests, what you will see in Italy is the biggest crash in real estate in modern history. This will be like taxing your bank account by 50%+. Many people use real estate, as they do in China, as their savings. In 2017, part of the very reason why the Five-Star Movement won was also the drastic imposition of property taxes in Italy.
FULTRA 10 MARZO 2020: Qui sotto la fotocopia dal vero "cialtrone medio italico" : Antitrader. Fatene una copia del pensiero per i posteri e quando tra 50 anni vorranno capire perchè l' talia sia finita miseramente