*From Bloomberg News reporters Tara Patel, William Horobin, and Claudia Cohen:*
As Prime Minister Sebastien Lecornu navigates a narrowing path to political survival, the 39-year-old is under pressure from the left, the extreme right and even his own centrist allies to include higher levies on the well-heeled as part of an effort to rein in the largest deficit in the euro area.
The country’s fifth premier in less than two years on Friday criticized calls for a broad-based wealth tax, including one proposal named after economist Gabriel Zucman. But he left the door open to measures that could affect the richest, saying it’s impossible not to hear French people’s demands for “tax justice.”
Debate is raging with rare intensity in France on whether the wealthy should shoulder a bigger role in filling government coffers.
xgxnt on
They will just leave France and register their companies in another countries, good luck with that. We have so many examples from history, Norway was the best one.
Rik_Ringers on
It would be nice if the French could succesfully set a functional precedent here. Or with other words it would be nice if the French managed to build a tax system that puts the burden far more on the wealthy withought significant negative economic effects, to a point that it’s clearly succesfull in its aim and utility.
Droidsexual on
Oh no! Not the wealthy! Unfettered wealth accumulation never hurt anyone!
madnessone1 on
Norway tried it, I think they ended up losing more than they gained in people moving away their assets
Dennisthefirst on
The rest of the world needs to follow. For the planets people, the world is becoming more unequal every day.
Dingus_Suckimus on
Hooray 🎉
1urk3r88 on
You can tax all rich people 99% – it will still not solve the problems of this sinking welfare state 😂
the rich pay disproportionately more taxes than what others pay – and the value for money what we all get is still SHIT, because the system is shit and not transparent
it’s no wonder why UAE attracts all the wealth – the only way to solve the problem is lower taxes, end of welfare and flat tax for all
Make Europe great again! On the road we are now on – we will never be competitive to china or the US
UnMaxDeKEuros on
It’s turning to be not only a fiscal justice problem, but also a democratic one. We do not want to become like the US where an handful of oligarchs can influence elections and dictate politics.
NewOil7911 on
I find this whole media campaign against the demands of tax to the ultrarich just *bizarre.*
We’ve got people that have an individual wealth equal to the GDP of medium to major countries.
We’ve got people whose revenue is tens of thousands of times the one of the lowest salary in their company, after taking into account the wealth increase from stocks.
And yet we’re supposed to shed a tear for them.
At the same time we need to dismantle brick by brick the welfare state because we don’t have the money apparently.
g0ggy on
I hope Zucman gets this ball rolling across the EU. People are finally starting to listen to the voices of experts in many European nations. If you zoom out a bit the patterns are all identical in our nations.
Judge_T on
I wonder if Melenchon will actually vote in favour of this. Let’s see if he cares more about fighting Macron or about fighting inequality.
BenderRodriguez14 on
Macron and co would sooner cede all power to National Rally.
Xender_Tepes on
I hope that all these „rich“ people, that is, successful entrepreneurs, will see this as a wake-up call and leave France, thus closing their businesses and leaving all these angry people without jobs.
Even if France successfully tax the wealthiest without them fleeing (it’s impossible), the expected tax revenue is very little compared to the deficit.
DocHolidayPhD on
This is the way…
14_In_Duck on
Love the vibe. Reddit coming up with the solution to a problem as old as time.
Next: I have a great idea, we can call it Robin Hood tax.
Radgoncan on
There’s nothing wrong with taxing the rich. Why does this article frame it as a bad thing?
-The_Blazer- on
Remember kids, in economics, you spend less or earn more. From the perspective of all the technicians who say France is on the brink of financial collapse, this *should* be equivalent to the other option.
k1rbyt on
Oh yes, let’s put out a fire by pouring more fuel on it. And the rich will provide the fuel 🙂
spieler_42 on
Didn’t work the last time. Actually it was a disaster.
Now they try it again.
Gamblinman97 on
A very short term solution that goes after current wealth but destroys the ability for future wealth and growth to occur.
Spiritual_Paint5005 on
Interesting way of saying redistributing wealth
AmbitiousReaction168 on
Won’t happen as long as Macron is president.
Cleonce12 on
🎶ONE DAY MORRRRRREEEEE-🎶
Gawkhimmyz on
suggestion; multi level progressive property taxes
andreasmodugno on
More, more, more… everyone always wants more. I want what you have. Life on this planet has improved dramatically over a very short period of time: global poverty, especially extreme poverty has decreased significantly; people everywhere are living much longer; health and nutrition are much improved, more people everywhere are better educated and have greater access to information; and just generally people everywhere have greater access to goods and services of every kind and an improved standard of living. The result? More, more, more… I want more. I want what you have.
czk_21 on
I am all in to tax the rich more, but this wont save the budget, massive cuts needs to be done regardless, better now than later like greece….
its sad people cant look a bit mor into future, feeling good for present,only to end up in sht in the future
seattle_architect on
“Some wealthy individuals might leave France to avoid the tax, potentially reducing expected revenues and hurting the economy.
Investment Impact: the tax could discourage investment and risk-taking by entrepreneurs and business owners, adversely affecting economic growth and job creation.”
The France as we know will demographically change in the next four decades.
“muslims reportedly account for about 30% of births despite being around 10% of the population.”
when there was the soviet union we were better off. We need again the communism danger in order to convice the powerfull that is better to pay more taxes than to be murdered
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*From Bloomberg News reporters Tara Patel, William Horobin, and Claudia Cohen:*
As Prime Minister Sebastien Lecornu navigates a narrowing path to political survival, the 39-year-old is under pressure from the left, the extreme right and even his own centrist allies to include higher levies on the well-heeled as part of an effort to rein in the largest deficit in the euro area.
The country’s fifth premier in less than two years on Friday criticized calls for a broad-based wealth tax, including one proposal named after economist Gabriel Zucman. But he left the door open to measures that could affect the richest, saying it’s impossible not to hear French people’s demands for “tax justice.”
Debate is raging with rare intensity in France on whether the wealthy should shoulder a bigger role in filling government coffers.
They will just leave France and register their companies in another countries, good luck with that. We have so many examples from history, Norway was the best one.
It would be nice if the French could succesfully set a functional precedent here. Or with other words it would be nice if the French managed to build a tax system that puts the burden far more on the wealthy withought significant negative economic effects, to a point that it’s clearly succesfull in its aim and utility.
Oh no! Not the wealthy! Unfettered wealth accumulation never hurt anyone!
Norway tried it, I think they ended up losing more than they gained in people moving away their assets
The rest of the world needs to follow. For the planets people, the world is becoming more unequal every day.
Hooray 🎉
You can tax all rich people 99% – it will still not solve the problems of this sinking welfare state 😂
the rich pay disproportionately more taxes than what others pay – and the value for money what we all get is still SHIT, because the system is shit and not transparent
it’s no wonder why UAE attracts all the wealth – the only way to solve the problem is lower taxes, end of welfare and flat tax for all
Make Europe great again! On the road we are now on – we will never be competitive to china or the US
It’s turning to be not only a fiscal justice problem, but also a democratic one. We do not want to become like the US where an handful of oligarchs can influence elections and dictate politics.
I find this whole media campaign against the demands of tax to the ultrarich just *bizarre.*
We’ve got people that have an individual wealth equal to the GDP of medium to major countries.
We’ve got people whose revenue is tens of thousands of times the one of the lowest salary in their company, after taking into account the wealth increase from stocks.
And yet we’re supposed to shed a tear for them.
At the same time we need to dismantle brick by brick the welfare state because we don’t have the money apparently.
I hope Zucman gets this ball rolling across the EU. People are finally starting to listen to the voices of experts in many European nations. If you zoom out a bit the patterns are all identical in our nations.
I wonder if Melenchon will actually vote in favour of this. Let’s see if he cares more about fighting Macron or about fighting inequality.
Macron and co would sooner cede all power to National Rally.
I hope that all these „rich“ people, that is, successful entrepreneurs, will see this as a wake-up call and leave France, thus closing their businesses and leaving all these angry people without jobs.
[Bernard Arnault:](https://youtu.be/t5zQpN28xa4?si=XKO7WJWCJ0Q01lh8)
Even if France successfully tax the wealthiest without them fleeing (it’s impossible), the expected tax revenue is very little compared to the deficit.
This is the way…
Love the vibe. Reddit coming up with the solution to a problem as old as time.
Next: I have a great idea, we can call it Robin Hood tax.
There’s nothing wrong with taxing the rich. Why does this article frame it as a bad thing?
Remember kids, in economics, you spend less or earn more. From the perspective of all the technicians who say France is on the brink of financial collapse, this *should* be equivalent to the other option.
Oh yes, let’s put out a fire by pouring more fuel on it. And the rich will provide the fuel 🙂
Didn’t work the last time. Actually it was a disaster.
Now they try it again.
A very short term solution that goes after current wealth but destroys the ability for future wealth and growth to occur.
Interesting way of saying redistributing wealth
Won’t happen as long as Macron is president.
🎶ONE DAY MORRRRRREEEEE-🎶
suggestion; multi level progressive property taxes
More, more, more… everyone always wants more. I want what you have. Life on this planet has improved dramatically over a very short period of time: global poverty, especially extreme poverty has decreased significantly; people everywhere are living much longer; health and nutrition are much improved, more people everywhere are better educated and have greater access to information; and just generally people everywhere have greater access to goods and services of every kind and an improved standard of living. The result? More, more, more… I want more. I want what you have.
I am all in to tax the rich more, but this wont save the budget, massive cuts needs to be done regardless, better now than later like greece….
its sad people cant look a bit mor into future, feeling good for present,only to end up in sht in the future
“Some wealthy individuals might leave France to avoid the tax, potentially reducing expected revenues and hurting the economy.
Investment Impact: the tax could discourage investment and risk-taking by entrepreneurs and business owners, adversely affecting economic growth and job creation.”
The France as we know will demographically change in the next four decades.
“muslims reportedly account for about 30% of births despite being around 10% of the population.”
https://www.nextbigfuture.com/2025/08/which-european-countries-will-become-muslim-potential-tripling-by-2050.html
when there was the soviet union we were better off. We need again the communism danger in order to convice the powerfull that is better to pay more taxes than to be murdered