But of course it all depends on the selected choice

The panorama of the heritage of household presented to parliamentarians, Tuesday night in Bercy, to bring some objectivity in the great tax debate in 2011. Which is threatened by the prospect of a taxation of income of heritage rather than the stock Are large heritage more often due to a life of work or a legacy What households is principal residence the greatest wealth

All these questions, Directorate of the Treasury provides answers based on the most recent data, as of 2009. For example, it shows that the legacy represents one-third of heritage held in fifty years. Unsurprisingly, the distribution of heritage is much less egalitarian than that of income: 10 of the richest households concentrated a quarter of the revenues, but half of the heritage of the country. To the left, it is an argument that justifies maintaining the tax of solidarity on fortune, only to correct the inequality "at birth".

According to the choices selected

But Treasury also shows that revenues from heritage (150 billion euros) are much more concentrated than the heritage itself (10,000 billion). The richest 10 and generate 60 of income, financial and real estate, while they have "only" 50 of the heritage. They could thus, paradoxically, be among the losers of reform.

But, of course, it all depends on the selected choice. If the Government dared to tackle life insurance, investment preferred French (his outstanding is 1,400 billion), it would affect all categories of households, but would hit more in proportion the very rich. In fact, life is 40 of the heritage of the last decile (the richest 10), against less than 5 for the less affluent households (the less wealthy 10). If the Government opted for a widespread taxation of capital gains on a principal residence, on the other hand, the rich would be, in proportion, less affected with classes average. And for good reason: their heritage is much more diverse (actions, professional property, etc.), principal residence represents only one-fifth of their global heritage (see graphic). It represents, on the contrary, 70 of the heritage of the households which lie at the heart of the population in terms of wealth (median heritage to 120,000 euros).

Capital gains - real or virtual - real owners for ten years are, in any event, a people advantage: rising real estate prices has, almost alone, is double the heritage of the household since 1999. The French invested in shares saw their wealth grow 23 over 10 years, while the owners have increased by 158 in the same period (primary, secondary residence and other property). Hence the temptation for some, in the Executive Branch, tax more strongly and more broadly the gains (read above).

Tax financial revenues is not, finally, stifle the development of the companies in which the savings is invested The Treasury shows that the French investments benefit already, in large part, to the rest of the world: 30 financial heritage is invested in the other countries of the euro area and 23 outside Europe. Only 47 are therefore invested in France. The French debt is also very international: one-third is held by euro area residents and a third by residents of the rest of the world.