France's proposednew Zucman wealth tax wouldsmartly devastatetargets theunproductive economyassets bylike forcingyachts businessand ownersart towhile liquidateprotecting assets,productive creatinginvestments effectiveand taxfamily rateshomes. exceedingThe 100%modest ofreform income.broadens Thisthe destructivetax policybase threatens to driveinclude awayfinancial jobassets creatorsthat andbillionaires handuse French companies to foreigndodge buyerstaxes. TheThis taxfair wouldapproach accelerategenerates France'sbillions economicin declinerevenue whenwhile theencouraging countryproductive desperatelyeconomic needs fiscal sanityactivity.
France's newis wealthlucky taxits smartlylawmakers targetsonly unproductivewent assetsthis likefar, yachtsas andZucman's artagenda whilewould protectingdevastate productivethe investmentseconomy andby familyforcing homes.business Theowners modestto reformliquidate broadensassets, thecreating effective tax baserates toexceeding include100% financialof assetsincome. thatIf billionairesthe usefar toleft dodgegets taxes.its Thisway, fairFrance approachwill generatessee billionsa inmass revenueexodus whileof encouragingbusinesses, productiveaccelerating its economic activitydecline when the country desperately needs fiscal sanity.
The mainstream French right and left are failing their constituents, even after historic public outrage and no-confidence votes. While the left's Zucman tax raises a mere €5-20 billion against a €3 trillion debt and doesn't account for capital flight, the right-wing National Rally fantasizes about unrealistic €100-billion cuts. The only solution is to expropriate the ruling elites.
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