{"id":6642,"date":"2024-04-08T15:58:48","date_gmt":"2024-04-08T13:58:48","guid":{"rendered":"https:\/\/lecercledeseconomistes.fr\/articles\/%cat-post-theme%\/the-debate-should-superprofits-and-superdividends-be-taxed\/"},"modified":"2024-04-18T18:00:27","modified_gmt":"2024-04-18T16:00:27","slug":"the-debate-should-superprofits-and-superdividends-be-taxed","status":"publish","type":"blog","link":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/","title":{"rendered":"The Debate | Should superprofits and superdividends be taxed?"},"content":{"rendered":"\n<div class=\"wp-block-group section-content-layout-without-cover is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<div class=\"block--post-meta\" >\n\n    <ul class=\"block--post-meta-list\">\n\n        \n            <li>\n                <p class=\"style-p-secondary-bold\">date<\/p>\n                <time datetime=\"2024-04-08T15:58:48+02:00\"class=\"style-p-secondary-normal\">8 avril 2024<\/time>\n            <\/li>\n\n            <li>\n                <p class=\"style-p-secondary-bold\">update<\/p>\n                <time datetime=\"2024-04-18T18:00:27+02:00\" class=\"style-p-secondary-normal\">18 avril 2024 \u00e0 18:00<\/time>\n            <\/li>\n\n            \n            <li>\n                <p class=\"style-p-secondary-bold\">author<\/p>\n\n                <div class=\"container__authors\">\n\n                    \n                        <a class=\"style-p-secondary-normal\" href=\"https:\/\/lecercledeseconomistes.fr\/en\/presentation\/members-and-authors\/members\/philippe-trainar\/\">Philippe Trainar<\/a>\n                     \n                    \n                        <a class=\"style-p-secondary-normal\" href=\"https:\/\/lecercledeseconomistes.fr\/en\/presentation\/members-and-authors\/members\/alain-trannoy\/\">Alain Trannoy<\/a>\n                     \n                    \n                <\/div>\n            <\/li>\n            \n        \n            \n            \n            \n\n            \n                <li>\n                    <p class=\"style-p-secondary-bold\">reading time<\/p>\n                                        <p class=\"style-p-secondary-normal\">5 minutes<\/p> \n                <\/li>\n\n            \n\n        \n        \n    <\/ul>\n\n    \n        \n        <div class=\"container-post-social-share\">\n\n            \n<div class=\"block--post-social-share\" >\n\n    \n    <ul class=\"container-socials\">\n\n        <li>\n            <a href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Flecercledeseconomistes.fr%2Fen%2Farticles%2Ffinance-en%2Fthe-debate-should-superprofits-and-superdividends-be-taxed%2F\" title='Partager sur Facebook' target='_blank'>\n                \n                <svg class=\"facebook\" width=\"27\" height=\"26\" viewBox=\"0 0 27 26\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<path class=\"one\" d=\"M25.6539 0.587891H0.814941V25.4269H25.6539V0.587891Z\" stroke=\"#5B5B5B\" stroke-miterlimit=\"10\"\/>\n<path class=\"two\" d=\"M14.272 18.7267V13.6327C14.772 13.6327 15.2328 13.6327 15.6958 13.6267C15.7718 13.6267 15.9031 13.5607 15.9131 13.5077C16.0281 12.8697 16.1249 12.2277 16.2339 11.5437H14.2671C14.2671 11.0247 14.2671 10.5437 14.2671 10.0627C14.2551 9.87274 14.308 9.68435 14.417 9.52832C14.526 9.37229 14.6847 9.25785 14.8672 9.20368C15.0801 9.14115 15.3001 9.10751 15.522 9.10368C15.776 9.08668 16.0332 9.10368 16.2852 9.10368V7.36868C15.8852 7.35068 15.5141 7.33168 15.1401 7.31668C14.8644 7.29425 14.5876 7.28624 14.311 7.29268C13.7675 7.30104 13.2455 7.50737 12.8433 7.87299C12.441 8.23862 12.186 8.73842 12.126 9.27868C12.0574 9.92597 12.0291 10.5769 12.041 11.2277C12.041 11.3277 12.0319 11.4277 12.0259 11.5567H10.1899V13.6347H12.0479V18.7267H14.272Z\" fill=\"#5B5B5B\"\/>\n<\/svg>            <\/a>\n        <\/li>\n        \n\n        <li>\n            <a href=\"https:\/\/twitter.com\/intent\/tweet?text=The Debate | Should superprofits and superdividends be taxed?&#038;url=https%3A%2F%2Flecercledeseconomistes.fr%2Fen%2Farticles%2Ffinance-en%2Fthe-debate-should-superprofits-and-superdividends-be-taxed%2F&#038;hashtags=cde\" title='Partager sur Twitter' target='_blank'>\n                \n                <svg class=\"twitter\" width=\"26\" height=\"26\" viewBox=\"0 0 26 26\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<g clip-path=\"url(#clip0_805_2)\">\n  <rect class=\"background\" width=\"100%\" height=\"100%\" fill=\"white\"\/>\n  <path class=\"one\" d=\"M0.5 0H0V25.839H25.839V0H0.5ZM24.839 24.839H1V1H24.839V24.839Z\" fill=\"#5C5B5C\"\/>\n  <path class=\"two\" d=\"M7.035 17.9391C6.863 18.1171 6.693 18.2961 6.5 18.4961C6.792 18.4961 7.05 18.4881 7.308 18.4991C7.445 18.5051 7.534 18.4591 7.624 18.3651C8.934 17.0021 10.25 15.6431 11.559 14.2791C11.649 14.1851 11.68 14.2091 11.745 14.2931C12.799 15.6621 13.856 17.0281 14.909 18.3971C14.965 18.4701 15.023 18.4971 15.116 18.4971C16.2 18.4941 17.285 18.4951 18.369 18.4941C18.41 18.4941 18.455 18.5081 18.5 18.4751C18.491 18.4601 18.484 18.4461 18.475 18.4331C17.967 17.7801 17.459 17.1271 16.95 16.4741C15.857 15.0701 14.764 13.6651 13.669 12.2631C13.615 12.1941 13.608 12.1541 13.676 12.0861C13.953 11.8081 14.221 11.5231 14.493 11.2411C15.534 10.1631 16.576 9.08512 17.617 8.00612C17.771 7.84612 17.924 7.68612 18.099 7.50212C17.814 7.50212 17.56 7.50912 17.308 7.49912C17.177 7.49412 17.091 7.53712 17.004 7.62812C15.749 8.93112 14.49 10.2301 13.235 11.5331C13.168 11.6031 13.146 11.5891 13.095 11.5221C12.077 10.2121 11.057 8.90312 10.04 7.59212C9.986 7.52212 9.93 7.50012 9.844 7.50012C8.777 7.50212 7.71 7.50112 6.643 7.50212C6.603 7.50212 6.557 7.48512 6.517 7.52512C6.53 7.54312 6.542 7.56012 6.554 7.57712C8.082 9.55512 9.609 11.5331 11.139 13.5091C11.198 13.5851 11.209 13.6261 11.133 13.7041C9.764 15.1131 8.399 16.5251 7.034 17.9371L7.035 17.9391ZM8.059 8.30412C8.043 8.28412 8.03 8.26212 8.014 8.24012C8.048 8.19612 8.095 8.21612 8.135 8.21612C8.596 8.21412 9.057 8.21812 9.518 8.21312C9.621 8.21212 9.685 8.24212 9.746 8.32212C10.664 9.50912 11.585 10.6941 12.505 11.8791C13.993 13.7961 15.482 15.7121 16.97 17.6291C16.99 17.6551 17.008 17.6831 17.044 17.7351C16.504 17.7351 15.991 17.7351 15.478 17.7351C15.413 17.7351 15.387 17.6921 15.356 17.6521C14.356 16.3711 13.357 15.0891 12.357 13.8081C10.925 11.9731 9.492 10.1391 8.059 8.30412Z\" fill=\"#5C5B5C\"\/>\n<\/g>\n<\/svg>\n            <\/a>\n        <\/li>\n        \n\n        <li>\n            <a href=\"https:\/\/www.linkedin.com\/sharing\/share-offsite\/?url=https%3A%2F%2Flecercledeseconomistes.fr%2Fen%2Farticles%2Ffinance-en%2Fthe-debate-should-superprofits-and-superdividends-be-taxed%2F\" title='Partager sur Linkedin' target='_blank'>\n                \n                <svg class=\"linkedin\" width=\"25\" height=\"26\" viewBox=\"0 0 25 26\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<path class=\"one\" d=\"M24.8649 0.587891H0.0258789V25.4269H24.8649V0.587891Z\" stroke=\"#5B5B5B\" stroke-miterlimit=\"10\"\/>\n<path class=\"two\" d=\"M18.1309 13.5412C18.1539 15.1962 18.144 16.8512 18.144 18.5062C18.1386 18.5827 18.1283 18.6588 18.1138 18.7342C17.4238 18.7342 16.743 18.7342 16.063 18.7342C15.826 18.7342 15.8902 18.5472 15.8892 18.4182C15.8892 17.2602 15.8892 16.1022 15.8892 14.9432C15.8892 14.8222 15.8892 14.7002 15.8892 14.5792C15.8913 14.3853 15.8548 14.1928 15.7817 14.0132C15.7087 13.8336 15.6002 13.6703 15.4634 13.5329C15.3265 13.3955 15.1637 13.2867 14.9844 13.2129C14.805 13.1391 14.6129 13.1018 14.4189 13.1032C14.005 13.0978 13.6058 13.2566 13.3086 13.5448C13.0114 13.833 12.8404 14.2272 12.833 14.6412C12.816 15.8412 12.8332 17.0412 12.8252 18.2482C12.8252 18.7912 12.8952 18.7332 12.3252 18.7362C11.7552 18.7392 11.1838 18.7362 10.5918 18.7362V11.1462H12.8198V12.1112C12.9688 11.9552 13.0519 11.8742 13.1279 11.7882C14.1279 10.6732 17.1092 10.5882 17.9092 12.5482C18.0427 12.863 18.1176 13.1994 18.1309 13.5412Z\" fill=\"#5B5B5B\"\/>\n<path class=\"three\"d=\"M8.09164 7.27812C8.36496 7.27255 8.63415 7.34853 8.86411 7.49635C9.09406 7.64417 9.27472 7.85713 9.38315 8.10808C9.49157 8.35903 9.52247 8.63659 9.4725 8.90535C9.42253 9.17412 9.29376 9.4219 9.10239 9.61711C8.91101 9.81232 8.66601 9.94611 8.39829 10.0014C8.13056 10.0567 7.85251 10.031 7.59946 9.92755C7.34641 9.82413 7.12974 9.64767 6.97739 9.42069C6.82504 9.19371 6.74385 8.92649 6.74399 8.65312C6.73999 8.47373 6.77175 8.29535 6.83774 8.12849C6.90373 7.96163 7.00265 7.80966 7.12827 7.68153C7.25388 7.5534 7.40367 7.4517 7.56918 7.38242C7.7347 7.31314 7.91221 7.27767 8.09164 7.27812Z\" fill=\"#5B5B5B\"\/>\n<path class=\"four\"d=\"M9.22314 11.1509V18.7169H7V11.1509H9.22314Z\" fill=\"#5B5B5B\"\/>\n<\/svg>            <\/a>\n\n        <\/li>\n        \n<\/ul>\n\n  \n    \n    \n<\/div>\n        <\/div>\n\n\n        \n\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<p><strong>To make up part of the public deficit, the government is preparing to open the hunt for pensions. The contours of these &#8220;rents&#8221; are not yet precisely defined, but we can think of the superprofits made by certain groups and sectors of activity. Two economists are debating. For Philippe Trainar, taxing would be economic nonsense; for Alain Trannoy, a pragmatic tax is needed.<\/strong><\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Taxing superprofits and superdividends is economic nonsense \u2013 Philippe Trainar<\/h2>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>The taxation of the &#8220;rich&#8221;, the &#8220;superprofits&#8221;, the &#8220;super dividends&#8221;, the buybacks of shares has become the commonplace of French political life&#8230; Served up in all sorts of ways, it is indicative of the disappearance of any effort to reflect on economic policy. Often presented as economically equivalent, these different measures are in fact economically very distinct.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>Wealth is not particularly related to &#8220;superprofits&#8221; or &#8220;super dividends&#8221;. The truly rich are natural persons not legal persons, yet natural persons received in 2022 only 19% of dividends distributed in France, the bulk (66%) having been received by companies to which these dividends are necessary to finance their activity.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>As for &#8220;superprofits&#8221;, they themselves are hardly related to &#8220;super dividends&#8221; or share buybacks, since &#8220;superprofits&#8221; are generally attached to profitable investment and reinvestment opportunities that provide little incentive for dividend payments or share buybacks. In fact, the notion of &#8220;superprofit&#8221; is purely subjective. For example, Oxfam, a confederation of charities, arbitrarily defines &#8220;superprofit&#8221; as the average amount of profits over the past four years (adjusted for growth). This definition is economically absurd insofar as the volatility of profit varies greatly from one sector to another, and that the overtaxation of &#8220;superprofits&#8221; as defined by Oxfam would in fact lead to an overtaxation of the riskiest sectors of the economy, which are also the most innovative, thus giving a competitive advantage to companies with little or no innovation.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>As far as the notion of &#8220;super dividends&#8221; is concerned, it is largely misleading: &#8220;super dividends&#8221; generally occur not when the company makes &#8220;super profits&#8221; but when a company&#8217;s investment and profit opportunities dry up and it is desirable to reallocate capital to other, more promising companies, for this to do so it is necessary to start by returning the capital to the shareholders. Taxing &#8220;super dividends&#8221; by discouraging the reallocation of capital gives an unfair competitive advantage to less productive companies with no future. The taxation of share buybacks is subject to a similar analysis.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>Only the overtaxation of monopoly profits would make economic sense&#8230; However, in developed economies, particularly in Europe, the dismantling of monopolies no longer requires taxation but the control of competition. The competition authorities thus seek to reduce the risks of monopoly inherent in the GAFAMs while not harming the dissemination of the innovations that these companies carry. There is no need for taxation.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>However, the measures to overtax &#8220;excess profits&#8221;, &#8220;super dividends&#8221;, share buybacks or, more trivially, the &#8220;rich&#8221; have this in common: they would reduce investment by the amount of the revenue from the surtax (bearing in mind that this revenue would probably feed into final consumption expenditure) to which would have to be added the consequences of the disincentive to invest resulting from the fall in the return on capital induced by the surtax.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>In the case of France, this would be doubly catastrophic. On the one hand, because the French economy suffers from a chronic shortage of domestic capital, which constrains investment<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>and which makes it dangerously dependent on foreign capital. On the other hand, because France is the developed economy where inequalities are the lowest, where they have continued to fall in recent decades and where compulsory taxes are the highest, with the result that France is one of the few OECD countries where there is no urgency to reduce inequalities and where the rise in marginal tax rates no longer makes it possible to increase the tax revenues (the famous &#8220;Laffer&#8221; effect). A measure that should therefore be avoided as much as possible.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">On the usefulness of taxation, measured but certain \u2013 Alain Trannoy<\/h3>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>The poor results of public finances with a larger than expected deficit for 2023 (5.5% instead of 4.9%) lead to questions about different avenues for raising taxes. Unsurprisingly, the French are in favour of taxing the richest and superprofits. An examination of the second option suggests that there are possibilities for action in two directions, the taxation of share buybacks and that of energy companies outside EDF.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>The starting point is to agree on a definition of surplus profit. The economist nourished by market analysis learns that surplus profit is profit beyond the return on capital invested in a risky activity in an economy of pure and perfect competition.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>The company in a purely competitive situation (it cannot pass on an increase in costs in its prices) now exists only in a few sectors of the economy, in particular in agriculture, and this is one reason for the economic difficulties of this sector.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>A majority of companies find themselves in a situation where the entrepreneur has opportunities to make a profit because the competition regime is very imperfect with local monopoly situations. A high-profile example is the case of shipping where the rate of profit to turnover was 40% during the pandemic. But it can also concern the small craftsman in the construction sector in a tourist area. Excess profit can therefore be widespread, and this makes any regulation by a competition authority potentially sprawling.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>Despite many microeconomic examples where it seems easy for the entrepreneur to make a margin, the distribution of value added between the remuneration of labour and that of capital at the macroeconomic level, according to the national accounts in France, can always be schematized by a macroeconomic production function where factors would be remunerated at their marginal productivity in a situation of pure and perfect competition. It&#8217;s a bit of a micro\/macro paradox. Overall, there is no overall surplus profit made by companies operating in France.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>On the other hand, there may be excess profits generated by French multinationals in their global activity. The question is whether they are taxable in France, and the answer in the case of current international legislation is probably no, but the situation can evolve as illustrated by the agreement initiated by the OECD on the taxation of multinationals.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>However, the issue of share buybacks, which reached \u20ac30 billion for CAC 40 companies, raises questions. The logic of paying generous dividends and distributing free shares to employees is understandable, but a company that uses its profits to drive up its stock market in the current situation, where companies need to invest to change the growth model, is not defensible from a collective point of view. I support the same type of provision contained in the Inflation Reduction Act passed by the US Congress in the summer of 2022 which introduced a tax on share buybacks (1% of the value of the transaction).<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>There remains an easy case to deal with, that of the surplus profit generated by the regulatory and fiscal activity of the State. According to a report by the Court of Auditors, all energy companies have made \u20ac30bn in exceptional profits. This is a matter of fiscal taxation, except for EDF since the State is the sole shareholder!<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"featured_media":6641,"parent":0,"template":"wp-custom-template-single-post-classic","cat-post-theme":[137],"cat-post-type":[135],"cat-blog-event-media-type-serie":[],"class_list":["post-6642","blog","type-blog","status-publish","has-post-thumbnail","hentry","cat-post-theme-finance-en","cat-post-type-news"],"acf":{"is_featured_post":false,"display_twitter_hastags":false,"twitter_hastags":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Debate | Should superprofits and superdividends be taxed? - Le cercle des \u00e9conomistes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Debate | Should superprofits and superdividends be taxed? - Le cercle des \u00e9conomistes\" \/>\n<meta property=\"og:description\" content=\"To make up part of the public deficit, the government is preparing to open the hunt for pensions. The contours of these &#8220;rents&#8221; are not yet precisely defined, but we can think of the superprofits made by certain groups and sectors of activity. Two economists are debating. For Philippe Trainar, taxing would be economic nonsense; [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/\" \/>\n<meta property=\"og:site_name\" content=\"Le cercle des \u00e9conomistes\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-18T16:00:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/04\/Banniere-Site-Cercle90.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1480\" \/>\n\t<meta property=\"og:image:height\" content=\"335\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Debate | Should superprofits and superdividends be taxed? - Le cercle des \u00e9conomistes","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/","og_locale":"en_US","og_type":"article","og_title":"The Debate | Should superprofits and superdividends be taxed? - Le cercle des \u00e9conomistes","og_description":"To make up part of the public deficit, the government is preparing to open the hunt for pensions. The contours of these &#8220;rents&#8221; are not yet precisely defined, but we can think of the superprofits made by certain groups and sectors of activity. Two economists are debating. For Philippe Trainar, taxing would be economic nonsense; [&hellip;]","og_url":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/","og_site_name":"Le cercle des \u00e9conomistes","article_modified_time":"2024-04-18T16:00:27+00:00","og_image":[{"width":1480,"height":335,"url":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/04\/Banniere-Site-Cercle90.png","type":"image\/png"}],"twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/","url":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/","name":"The Debate | Should superprofits and superdividends be taxed? - Le cercle des \u00e9conomistes","isPartOf":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/#primaryimage"},"image":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/#primaryimage"},"thumbnailUrl":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/04\/Banniere-Site-Cercle90.png","datePublished":"2024-04-08T13:58:48+00:00","dateModified":"2024-04-18T16:00:27+00:00","breadcrumb":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/#primaryimage","url":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/04\/Banniere-Site-Cercle90.png","contentUrl":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/04\/Banniere-Site-Cercle90.png","width":1480,"height":335},{"@type":"BreadcrumbList","@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/the-debate-should-superprofits-and-superdividends-be-taxed\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/lecercledeseconomistes.fr\/en\/home\/"},{"@type":"ListItem","position":2,"name":"Articles","item":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/"},{"@type":"ListItem","position":3,"name":"Finance","item":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/finance-en\/"},{"@type":"ListItem","position":4,"name":"The Debate | Should superprofits and superdividends be taxed?"}]},{"@type":"WebSite","@id":"https:\/\/lecercledeseconomistes.fr\/en\/#website","url":"https:\/\/lecercledeseconomistes.fr\/en\/","name":"Le cercle des \u00e9conomistes","description":"","publisher":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/lecercledeseconomistes.fr\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/lecercledeseconomistes.fr\/en\/#organization","name":"Le cercle des \u00e9conomistes","url":"https:\/\/lecercledeseconomistes.fr\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lecercledeseconomistes.fr\/en\/#\/schema\/logo\/image\/","url":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2023\/08\/logo.svg","contentUrl":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2023\/08\/logo.svg","width":1,"height":1,"caption":"Le cercle des \u00e9conomistes"},"image":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/blog\/6642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/blog"}],"about":[{"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/types\/blog"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/media\/6641"}],"wp:attachment":[{"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/media?parent=6642"}],"wp:term":[{"taxonomy":"cat-post-theme","embeddable":true,"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/cat-post-theme?post=6642"},{"taxonomy":"cat-post-type","embeddable":true,"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/cat-post-type?post=6642"},{"taxonomy":"cat-blog-event-media-type-serie","embeddable":true,"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/cat-blog-event-media-type-serie?post=6642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}