Poverty and wealth: definitions and chronology

Definitions of poverty and wealth

Poverty: State, condition of a person who lacks resources, material means to lead a decent life. Source: CNRTL.

Wealth: Abundance of goods, means, income; state, condition of a person who possesses very important goods, who has many resources, income. Source: CNRTL

Wealth and poverty are the opposite of each other according to these definitions.

It should be noted that this opposition between rich and poor has so excited passions that the vocabulary for identifying the rich and the poor, or even for insulting them, is plethoric.

Chronology on poverty and wealth in France

1801: Direct taxes represent 64% of tax revenues in France

1872: Creation of a tax on income from securities

1893: Creation of a 1% stock market tax

1949: Audiovisual fee

1950: Guaranteed interprofessional minimum wage

1954: Creation of the VAT

1956: Law creating the inheritance tax


1978: Law creating the taxation on stock market capital gains

1982: Tax on large fortunes (IGF)

1988: Minimum income for integration (RMI)


1991: CSG

1996: CRDS

2018: The tax on real estate wealth (IFI) replaces the ISF

→ See Explanations on the Yellow Vests movement

Summary of The Wealth of Nations – Adam Smith