Multiple parties are jockeying for position in the aftermath of France’s seismic snap election. The leftist New Popular Front (NPF) insists its ideas should be implemented.
France’s left wing New Popular Front (NPF) - now the largest group in parliament - has called for a prime minister who will implement its ideas including a new wealth tax and petrol price controls.
The leftist alliance secured the most seats in the recent French elections but fell short of the 289 needed for a majority in the National Assembly, France’s lower house of parliament.
President Emmanuel Macron’s Together bloc came in second and Marine Le Pen’s far-right National Rally (RN) party finished third.
France’s parties are now jockeying for position and it’s unclear exactly how things will shake out, but the NPF has insisted it will implement its radical set of ideas.
I think it’s a great target to aim for. That’s an unfathomable income to most people, so it should at least have popular support
Some will, but there’s an ever growing movement against gross wealth inequality. When simply buying groceries becomes a struggle for more and more people, that’s usually a telltale sign that the working class is going to start getting angry at the insatiable greed of those at the top.
The most likely thing that will happen is the rich renouncing citizenship and leaving the country.
Taxes don’t work like that. It’s only the portion above a level that’s taxed at that level.
In the US you could absolutely fall into a new range where certain deductions no longer apply, so you could make that extra little bit of income, then lose out on deductions totaling more than your increased income.
It’s not as simple as the progressive tax brackets look at first glance.