cross-posted from: https://lemmy.world/post/36272492
Europe’s richest man, the luxury goods magnate Bernard Arnault, has said that a wealth tax that could cost him more than €1bn (£817m) would be deadly for France’s economy.
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 liberal economy, the only one that works for the good of all”.
The idea of a wealth tax has steadily gained ground in France because of a political crisis, with the government trying to push through unpopular budget cuts. The idea of a 2% wealth tax on fortunes worth more than €100m has been proposed by Gabriel Zucman, an economics professor who has become a household name in France.
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.”
…Good?
We don’t need them or their ill gotten gains.
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 thing is that it doesn’t even inconvenience them. it’s a net gain for them as well. (they just haven’t understood that yet)
consumerism is in decline because people have less money. if people consume less, companies can’t sell products, so they have less revenue, so the company’s worth less. rich people hold all their wealth as assets of some companies (or apartments that they rent out). if consumers have no money, these assets become less valuable as a result. the only way to keep these assets valuable is to stimulate consumerism, which can only happen if the people have money that they can spend.
taxing the rich might superficially appear as if it would annoy the rich, but actually the opposite will happen. if you tax the rich, the money goes to the people, who spend it by buying products, and so the companies (and therefore the rich) recover that money. as long as that cycle keeps spinning, there’s revenue to be made, and companies and assets are worth something. the wealth of a country is measured in its productive force; if there’s no consumption of products, companies and factories decline and crumble and the productive force diminishes. It is only as long as people continue to consume products that new products will continue to be produced, which means that the factories stay maintained and functional.
The kings of yore had to use flushless toilets, the commoner of today now has heated bidets. The wealthy don’t understand that by allowing commoners the ability to think, invent, create, and implement, that the results will trickle up and benefit the wealthy.
Wealth is meant to flow throughout society, not get locked up in the reservoirs of the wealthy. Their greed creates a drought that harms everybody, themselves included.
“We’d all die! Die, I tell you!”
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%.
That’s why you don’t ask those people about these topics.
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%.
If the economy dies from barely taxing this cunt, let it fucking burn.
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.
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".
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.
Richest man
French economy
