The left-wing French coalition hoping to introduce 90% tax on rich

7 comments

1. Why 400 000€ was choosen as borderline?

2. Will totaly not backfire

3. Like Eisenhower did in the fifties.

4. Didn’t Hollande attempt a 75% tax and it backfired hard?

5. France already suffers from massive brain drain, many HNWI leave every year (I live in a country that welcomes them) and many companies and entrepreneurs on the rise leave before making it big.

   Even with Macron’s flat tax and reduced wealth tax, people were leaving. If the left manages to move forward with these purely populist policies, it’s gonna be wild.

   Only the top 30-35% of French citizens pay more into the system than what they get back, so every mildly successful person who leaves is terrible news for the state’s finances.

   But a lot of French people will cheer this on !

6. Also cancelling the pension reforms is a nonsense populist policy that will backfire.

7. i mean it won’t pass, but I’m glad to see a political party actually in power to introduce a piece of the socialist utopia.