A left-wing bloc made up of the Socialist, Communist, Green parties and the hard-left France Unbowed had proposed a minimum 2 per cent tax on wealth over €100 million (S$150 million), dubbed the “Zucman tax” after the French economist who devised it.
Mr Lecornu expressed his “profound disagreement” with the wealth-tax proposal, insisting there was no such thing as a “miracle tax”.
Yeah, the proposal was
a jokean effort to start the movement. And it still failed.(Imagine if you get a billon a year & they proposed a 2% tax - not much difference for you but if you invest only 1% of one year into lobbyists, that’s a budget of 10m that is spent on for full-time employees working on how to not make the tax increase happen. And ofc bribes & extortions.)
With such speed of wealth concentration to remain a society without kings an actual wealth tax is needed, directly in company profits, and on personal income. Which includes closing tax loopholes & monitoring intra-group wealth transfers.
Besides, the alternative is to legally nationalize all the wealth of a few select individuals, like a purge common to after-revolution times (and literally end the debt crisis). That or be enslaved.
^ If that kind off public discussion would be going on billionaires would be lobbying for a gigantic tax increase on their wraith.