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Then people don't invest in France as much for fear of having their wealth nationalised and invest in neighbouring countries instead. Then the middle class leav
by fvdessen 4y ago
Then people don't invest in France as much for fear of having their wealth nationalised and invest in neighbouring countries instead. Then the middle class leaves to the better jobs in the neighbouring countries.
- danaris 4y agoAre you under the impression that most wealth in a country comes from rich people? Because observation over the past few decades strongly suggests it's the reverse. Rich people drain money out of the economy; working people create value, and thus wealth. Or what do you think is going to happen? The billionaires will pull out, but they'll make sure to retain ownership of all the businesses they ran—and fire everyone, thus ensuring that those are just losing them money? How is that going to be better for them than paying the tax? And how long before France just nationalizes the businesses and puts people back to work without the billionaires getting a cent?
- fvdessen 4y agoInvestors are usually not billionaires but either regular people putting money in the stock market for their savings or retirement money, companies looking to expand their assets, state looking to manage some of their funds, etc.
- danaris 4y agoBut that's not who was being talked about. The contention at hand was that if France were to tax its billionaires' wealth, they would leave and stop investing in France's businesses...and this would somehow destroy jobs.