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The newly elected left-wing government in France has proposed a radical tax policy, introducing a 90% tax on any annual income exceeding €400,000.
This proposal has sparked a wide range of reactions across the political spectrum and the public. Critics argue that such a high tax rate could have detrimental effects on the economy, potentially driving away wealthy individuals and businesses who contribute significantly to economic growth and job creation. They fear that this measure could lead to capital flight, where high earners and corporations relocate to countries with more favorable tax regimes, ultimately reducing the tax base and harming economic stability.
This proposed tax hike is part of a broader economic plan by the left-wing government. The plan also includes lowering the retirement age and increasing the minimum wage, which aim to enhance social welfare and provide greater financial security for workers.
As the government moves forward with its agenda, The outcome of this policy proposal will be closely watched, not just within France, but across the world, as it could set a precedent for how first world nations will plunge into collapse.
French government calls for a new 90% tax on any annual income above €400,000.
90 percent.
Let that sink in.
— Wealthy Expat (@WealthyExpat) July 9, 2024
LOL – total economic collapse coming in France. pic.twitter.com/rPVVRqQcHf
— Catturd ™ (@catturd2) July 9, 2024
Now that the French socialists are planning a 90% tax on the rich, let me tell you the next steps.
1) The rich will simply leave and take their money and businesses with them
2) The economy will collapse
3) Venezuela pic.twitter.com/nFFCM26Ec3
— 𝗡𝗶𝗼𝗵 𝗕𝗲𝗿𝗴 ♛ ✡︎ (@NiohBerg) July 9, 2024
