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.
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?