Could France show us how progressive initiatives are bad for the US?
France’s recent elections have been good news for their left leaning groups. Their new left-wing coalition is proposing a 90% tax on those making over the equivalent of $433,000, raising minimum wage, lowering the retirement age, and other popular progressive ideas. If one does the numbers, if such a tax were implemented, a person could potentially make more money a year by not going above that threshold amount. That rate existed in the U.S. before the 1980s, Ronald Reagan fought against that rate.
From American Military News:
According to GB News, the New Popular Front movement, which was formed just a month ago, managed to secure a major victory in the second round of voting. The New Popular Front secured 183 seats, which prevented Marine Le Pen’s National Rally party from winning the election as many had anticipated.
French President Emmanuel Macron’s Together coalition finished second, while Le Pen’s National Rally finished third in the election.
Sky News reported that France’s New Popular Front is pushing for a prime minister to be chosen who will promote the movement’s left-wing ideas, including a 90% tax on the rich. However, while the coalition won the most seats in the recent election, it failed to reach the 289 seats needed for a majority in France’s National Assembly.
Despite the uncertainty surrounding the French government as the major coalitions struggle for power, Sky News reported that the New Popular Front has remained insistent that its left-wing ideas will be implemented in the new government.
Additional Reading:
Frudd, T. (2024, July 10). 90% tax pushed by left-wing lawmakers in a foreign country. American Military News. Link.
Category: Economy, Liberals suck, Politics, Society
I’m not sure making $433,000 a year makes one “rich”. Most rich people don’t get salaries, or collect a nominal one at best. Corporate executives tend to make lots of money but it’s through stock options and other schemes of compensation to avoid taxes. At least that is how it works in the United States, I’m not so sure about the overseas or France.
Personally I would rather have a hundred million dollars in stocks options than $100 million dollars in a salary every time. I could probably turn the stock options into some kind of long-term capital growth and pay a much lower tax rates then 40%.
It could show us, if we were willing to learn. It’s just like socialism/communism, it wasn’t done right in the past but this time…
With all of the chickens that’s been killed because of “Bird Flu” we do have plenty of feathers.
Anybody with more than two (2) brain cells to rub together or an IQ above meat hanging temps can see/understand that these “left” policies are only good to help destroy the Country they’re implemented in. Our “left” is probably frothing at the mouth to implement such policies here so they can continue to “…fundamentally change the face of America…” Sadly the useful idiots that support such policies will not realize that their usefulness has ended until just before the dirt of the mass grave covers their faces.
Is this equivalent to the Eisenhower-era tax rate of 90% on the highest earners?
Genuinely asking, cos that’s what it looks like.
Riding the big Frenchie…..
if you are taxing 90% on 433,000 euros, what is stopping people from taking of 9 months of the year off after making say 50,000 euros and tanking the whole economy.
I remember a story about Ronald Reagan, in which he said that he only made one or maybe two movies per year because the 90% rate on the higher tax brackets made the effort worthless. The studio system cranked out a lot of movies, more quickly than today.
But the income the 90% rate applied to back then would be the equivalent today of a lot more than $400,000-ish
True story. But more than that FDR wanted a 100% tax on anything over $25k. Noting the US income tax has always been progressive, that means that income over 25k would all go to the government, because no one “needed” more than that, so it could have been a lot worse.
Communism at its unworkable worst.
Remind me what party FDR was leader of again??? No wonder he allied us with Stalin, and had an administration infested with commies.
It looks to me like they want to Make Franceistan into California. The elites who want to inflict communism/socialism cannot do it during times of prosperity, thus they do all they can to crash and burn things as fast as they can, California being one example, Joke Biteme as well as B. Hussein 0bama & Company being another. One thing is for sure, and i’s when you “Tax the Rich” like that, they hide all they can in Tax Shelters and don’t spend. Look at how many people it takes to build a big yacht, one of their vacation homes among other things, their consumption causes people to be employed, and those in the Middle Class make that happen as well.
How about only taxing unspent income? For example, earn $700K a year and spend $600K. Only that remaining $100K gets the 90% tax. This will get the money into the economy, instead of being hoarded.
BULLSHIT, it will get stashed one way or another, and look at how Government endlessly wastes money. Like Ronald Reagan said, “Government always finds a need for whatever money it gets.”. Confiscating wealth is a central part of COMMUNISM.
Bruh – go take your meds.
And upon hearing this new plan, all of France’s illegal immigrants shouted for joy.
Breaking: There apparently was a shooting at the Trump rally in Butler, PA. An injured Pres Trump was escorted away by secret service to his armored SUV. From video, it looked like DJT reacted to being grazed on his right ear (by a bullet?) & evidence of blood on right side of his head. He looked to be fully responsive while being escorted off the stage. Holy sh*t. This is what many Trump supporters were so afraid of.
Shots fired at Trump rally in PA. Trumps right ear bloody. Trump rushed to suv with fist raised as he was hustled off. 8 to 11 shots fired it sounded like.
Media can’t figure out who or why anybody would do this.
As they were trying to get him out of there, the mic picked up him saying…let me get my shoes.
[…] This ain’t Hell… wonders if Progressive France can show the US that Progressive policies are bad […]
Time to dust off the National Razor