4 ms·
>they tend to cost the government tax revenue Is that actually true though? Or just something a mouthpiece of the wealthy has put out in some shonky report?
by hermitcrab 1y ago
>they tend to cost the government tax revenue
Is that actually true though? Or just something a mouthpiece of the wealthy has put out in some shonky report?
- guywithahat 1y agoYes, as far as I'm aware that was the primary motivation Macron had to remove the wealth tax in France, as with most other countries. The argument is even a small wealth tax is actually an astronomically high tax (a 2% wealth tax is approximately equal to an additional 50% capital gains tax), and so rich people are highly motivated to move their money out of the country or to a form of investment which isn't taxed. Wealth taxes tend to raise basically no money compared to what they wanted, and in return there is less investment in the country hurting the economy. https://www.bloomberg.com/opinion/articles/2025-10-03/wealth-tax-in-france-uk-or-new-york-city-it-s-a-bad-idea https://www.bloomberg.com/opinion/articles/2025-10-03/wealth... -> https://archive.ph/jhxzr https://archive.ph/jhxzr