‘Just three point zero’ was the name of the once famous Maastricht Game. ‘Not three point one or point o’ one right three percent, thereafter none’. That’s what a country once proclaimed when its finances had been tamed.
It’s been a while since three percent was what that country over-spent. Meanwhile, this threshold’s got a crack as quite some nations saw a lack in revenues and did not care about the rising minus share.
Billions of Euros are amiss. Goddess Fortuna did not kiss those countries’ treasurers who’d thought that taxes would yield three point naught. Yet, economic sluggishness put public households under stress.
That’s why some countries think the wiz are tax and other amnesties that should yield millions by the day. Yet capital prefers to stay where it is safe and not ‘dis-pursed’ to still a country’s taxing thirst.
That’s why the EU hopes it cracks by means of Interest Savings Tax those income sources that abide by reckless laws and tend to hide across the borders and beyond the local taxman’s fishing pond.
That’s why some countries do proclaim that other countries are to blame for being home and being shade to capital that does evade the local turf before it fades from annual taxation raids.
Before the wealth is coming home to Berlin, Paris or to Rome, there are some things that need to change, above all the taxation range, so that the one who earns some buck does not get punished for his luck.
Let nil point zero be the goal and let the countries search their soul to neutralize their deficit and make their P&L as fit as is required to attract some wealth that travels for a fact.