Multiple parties are jockeying for position in the aftermath of France’s seismic snap election. The leftist New Popular Front (NPF) insists its ideas should be implemented.
France’s left wing New Popular Front (NPF) - now the largest group in parliament - has called for a prime minister who will implement its ideas including a new wealth tax and petrol price controls.
The leftist alliance secured the most seats in the recent French elections but fell short of the 289 needed for a majority in the National Assembly, France’s lower house of parliament.
President Emmanuel Macron’s Together bloc came in second and Marine Le Pen’s far-right National Rally (RN) party finished third.
France’s parties are now jockeying for position and it’s unclear exactly how things will shake out, but the NPF has insisted it will implement its radical set of ideas.
Actually, 90% income tax for the top incomes was common in western countries in the 50s.
On paper, yes, in practice, no.
In the US, at the time that marginal tax rates got that high, the amount of things you could deduct was also MUCH higher. Truth is, nobody ever actually paid 90% back then.
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That sounds like the era. KISS was not a principle appreciated by economic legislators until the later 20th century. Mercantilism died slow.
Just 90% has the pro that you’ll actually collect revenue. Nobody’s paying out money that doesn’t reach the intended party even a bit. However, I feel like 100% would be worth it just for the paradigm shift in the way we think about society - that maybe there should be limits to how “special” you can get, and that that’s not spooky communism but simply realism about our mortal condition.