Not taxing the rich would be deadly to the rest of the humanity
“Poverty exists not because we cannot feed the poor, but because we cannot satisfy the rich.”
this post was submitted on 22 Sep 2025
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My guess: poverty exists to satisfy the rich. They feel happy when someone else suffers.
I have a game, where every time I hear or read "the economy" in the news, I replace it with "rich fucks' money" in my head - works really well, and in many cases is actually closer to reality than the original news...
The Zucman tax is absolute minimum of what's required at this point. It should be higher, it should be progressive, and it should start at lower levels of wealth. Moreover, in the future it should be applied globally and yearly.
I propose a simple, practical test: ask anyone with more than 100 million dollar or euro what their exact wealth is. The difference between what they say and what it really is, that can just be taxed away. It's going to be more than 2%.
I feel like for balance they should also talk to Europe's poorest man.
For financial balance, they would need to talk to Europe's poorest 20 million men.
There are few different economies. The top 1% own the businesses, top 10% own shares and investments and the 90% who just work paycheck to paycheck.
This guy is not talking about the 90%.
There are (..) different economies.
Thank you, I need to remind myself that "The Economy" is just another lie, usually cited with the undertone that it's too complex to understand for the 90%.
Try replacing "the economy" with "rich people's yacht money". From a tweet many years ago.
- Medicare for all would destroy rich people's yacht money
- The Dow Jones jumped 5%, indicating a real strength in rich people's yacht money
- etc.
If the economy dies from barely taxing this cunt, let it fucking burn.
...Good?
“aims to destroy the liberal economy, the only one that works for the good of all”.
Lmao. Seriously dude?
Yeah. And he really means it the way every European would read it anyhow: Economic Liberalism, a.k.a. Unfettered Capitalism
Arnault’s net worth stood at $169bn (£125bn) on Friday, mainly because of his 48% stake in LVMH Moët Hennessy Louis Vuitton, according to Bloomberg. After joining his family company and turning it from construction to property, Arnault grew his fortune by buying up brands ranging from the jewellers Bulgari and Tiffany & Co, the fashion houses Christian Dior and Celine, to perfumes and whiskey brand Glenmorangie.
(...)
The wealth tax could raise as much as €20bn, according to Zucman. However, other economists have argued that it would raise only €5bn if the ultra-wealthy leave France.
a wealth tax that could cost him more than €1bn would be deadly for France’s economy.
megalomania
And sociopathic
We don’t need them or their ill gotten gains.
I’m sure he is saying that from a completely objective position and has no personal stake in it whatsoever.
Every time they whinge about leaving if they get taxed and they actually do get taxed, they stay. Because it's hard to move your fortune off of the source.
"We'd all die! Die, I tell you!"
That's why you don't ask those people about these topics.
The French founder of LVMH Moët Hennessy Louis Vuitton said in a statement to the Sunday Times that calls for a 2% wealth tax on all assets “aims to destroy the NEOliberal economy, the only one that works for the good of all MONEY BROS".
No shit, Sherlock! No ask someone without money in the game.
I wonder if he thinks a wealth tax or a guillotine would be deadlier
Deadly for who?
https://feddit.org/post/19150492
Literal translation of the headline: The rich agains inheritance tax.
(Beacuse the name of our minister for the economy translates to "The rich")
France tried this is the late 80s, 10-12,000 millionaires left and it lost money overall so they scrapped it. A wealth tax doesn't work in Europe where it's so easy to leave.
But my understanding is France is already pretty tax heavy, so I don't know of a better tax revenue solution.
There's been plenty of historical examples where taxing the wealthy has worked. Assets can't easily move countries, nations can enforce taxes regardless of a wealthy person's residence, etc etc etc. Even if this tax is hard to design and implement, it's the right thing to do and it's necessary for our future.
Stop doing the work of the billionaires for free. Properly designed wealth taxes will work in Europe, we're smart enough to figure it out - and again - it's necessary.
"There's been plenty of historical examples where taxing the wealthy has worked". And yet they literally tried it IN FRANCE and it didn't work, France is literally the example used for capital flight.
What a lazy rebuttle, "you're doing the work of billionaires", lazy and without substance. But if you require a pledge of allegiance to the lower classes before I can talk tax: Idgaf if France decides to wealth tax every dime until billionaires earn $20 an hour. There you go.
Wealth taxes are extremely hard to implement. You're hand waving off-shore holdings like, "nations can enforce tax". Tell that to Ireland. Not to mention the costs involved with determining "wealth".
A wealth tax sounds lovely and appeals to voters, but it historically just doesn't fly. A VAT on luxury goods is way easier, cheaper, less risky, and achieves a lot of the same goals. It's just a lot harder to sell to mugs like you.
Wealth taxes are extremely hard to implement, but legislating thousands of tax loopholes is extremely easy. Removing them is hard, adding them is easy. Why is that?
Removing step up basis on assets, taxes inheritance over a limit, increasing capital gains taxes, taxing corporate buy backs, are all great wealth taxes. VAT is a horrible wealth tax, that’s not the level of wealth we want to target. We don’t want to target consumption, we want the money back in circulation. I don’t think anyone here appreciates your explanation or your intelligence as much as you do.
Ah, you're one of the morons who thinks a billionaire has a bank account filled with $1,000,000,000, just sitting idly, waiting to be added back into the economy by the government.
Good luck France, here's hoping you're the ONE country who can successfully institute a wealth tax.
No I think a billionaires assets are being leveraged by 10x at a 4% interest rates to manipulate asset prices and consolidate wealth. What do you think they are doing big brain?
Just implement capital flight tax. Norway has done it.
After the rate hikes in 2022, capital flight exceeded the additional revenue raised by the higher rates. And Norway had incentivised local governments to have a stake in the wealth tax which aided in the responsibility of the tax, something I haven't read France propose.
After the rate hikes in 2022, capital flight exceeded the additional revenue raised by the higher rates.
The wealthy fled before the tax on capital flight was implemented.
And Norway had incentivised local governments to have a stake in the wealth tax which aided in the responsibility of the tax, something I haven't read France propose.
Because France is run by politicians who pretend that there is no solution to combat the threat of capital flight, because they are in rich people's pockets.
Even Warren Buffet advocate increasing tax on the wealthy. He stated that higher taxes did not actually stop them from investing or leaving the country with their wealth, when the US used to tax higher rate on the higher marginal wealth bracket. Only relatively few wealthy people do leave the country.
France also did a wonderful political experiment a few hundred years ago. It was a real work of equality. I’m sure there are other solutions we could consider….