Summar found that 60% of property in Spain is inherited. This is one of the points that progressive economists such as Thomas Pickett point out as crucial to the analysis of inequality in the world. In contrast, the coalition led by second vice-president Yolanda Díaz has included in its election program a proposal for the creation of a universal inheritance of around 20,000 euros, with which it intends to solve one of the crucial problems in society, according to its analysis, inequality. social.
The proposal, presented by Yolanda Díaz in an interview with the newspaper El Mundo this Saturday, provides for the payment of 20,000 euros to all people when they reach adulthood, a measure estimated to cost around 10,000 euros. 0.8% of GDP, according to calculations by Sumari’s team of economists, which includes Nacho Alvarez and Carlos Martin Uriza.
“This is a transfer that young people who turn 18 will have the right to, and which will be effective until the age of 23. In these years, there will be administrative support to help young people develop a project, or job placement, entrepreneurship or train,” explained Sumari campaign spokesman Ernest Urstasun at a press conference this Monday.
Sumari increases this inheritance universally, but imposes a special tax on great wealth. “We launched this proposal to guarantee equal opportunities, accompanied by the strengthening of public services,” defended the spokesman, who also insisted on changing the tax paradigm, both Spanish and European, so far focused on income from work. to start taxing capital gains more.
This measure was part of the documents prepared by the working groups that made up Sumari’s ideological corpus during the hearing process, which became the germ of the vice president’s political project. The document, which was released last April, outlined the measure. “A universal heritage, in the sense of Atkinson or Piketty, is a proposal for equalizing opportunities and a more equal distribution of social wealth, which will have a strong impact on the opportunities of the young population,” the text explained.
“Improving training, or starting a job or a business project should not depend on where we were born. There is no true equality of opportunity without income redistribution, which provides the tools to help those starting their journey in life,” Yolanda Diaz later said on social media.
Reply to Calvino’s Criticism
Various political figures have responded to the proposal since Sunday. Economy Minister Nadia Calvino criticized that it does not have an income-related type of restriction. “Those who propose measures that include giving subsidies, similar aid, without any restrictions, income levels or a specific target, must explain how they will finance this, because in the coming years we have to continue. responsible fiscal policy”, said the first vice-president of the government.
Urtasun responded to these criticisms in a press conference by arguing that progressivism comes from the source (a tribute to great wealth) and not from the destination, as is the case with education or public health. Not only that, he reminded Calvino that a proposal for a universal inheritance has been published in a pamphlet by La Moncloa for 2050. “This paper shows that inheritance plays a crucial role in wealth inequality in young capital. . And here it includes a proposal that is the possible creation of a universal public heritage. I don’t know if Mrs. Calvino had anything to do with it; I imagine so,” he said.
Yolanda also responded to those who in recent hours have charged against the measure because they believe it is not progressive enough. “The fact that it is a universal measure does not make it regressive, but effective. Health, education or pensions are also universal rights of all people – regardless of their income level – and this does not mean that they will stop with strong redistributive policies,” he said.
“This measure will also be very effective, as it will not lead to excessive bureaucracy. Unlike other targeting mechanisms with complex access requirements, the universality of the measure ensures that no one is left behind,” he added.
Source: El Diario