Slavery will not return in the form of chains, but taxation.
The surging dark horse candidate in France’s presidential election is coming for the rich.
Jean-Luc Melenchon, who has been endorsed by the French Communist Party, says he would introduce a 100% tax on income above €400,000 ($425,000).
Why €400,000? That’s 20 times higher than France’s average wage.
The top rate of income tax is currently 45%. Boosting that to 100% would effectively cap earnings at €400,000.
France already has some of the world’s highest rates of income tax, and previous attempts to push them even higher have failed.
President Francois Hollande proposed a 75% top tax rate in 2012, but the proposal was rejected by the French courts.
High taxes have contributed to an exodus of millionaires from France.
Around 10,000 millionaires left the country in 2015, followed by 12,000 last year, according to New World Wealth. Movie star Gerard Depardieu is among those who have ditched France over the issue.
“I believe that there is a limit to the accumulation [of wealth],” Melenchon said in March. “If there are any who want to go abroad, well, goodbye!”
Stratospheric tax rates are not Melenchon’s only controversial idea. He also wants to limit pay for CEOs to 20 times the salary of their worst-paid employee. He argues that such a law would force executives to increase the wages paid to workers before boosting their own.
Melenchon is holding rallies across France later on Tuesday, where he will appear via a hologram.
This idea that the rich are there for you to dip your hand into their pocket and they’re wealth is immoral regardless of what they’ve done to earn it is beyond my understanding. Even the most relaxed Christians in the world should be able to see the paradox of believing you’re owed someone else’s wealth, regardless of how poor you might be. Just because my bank account might be low doesn’t mean I want to dip my hands in the register of a store, or in someone else’s wallet. Which is exactly what socialism and communism is. It’s taking money that’s not yours by force and “redistributing” it. Most often in ways that you will never see because that wealth disappears once the government gets their hands on it.
It’s a lazy ideology for lazy people who don’t want to put in the hard work themselves. Or for the greedy and simple minded who still think that the rich are only rich because they shit on the little guy. We all love the story of the little guy who makes it, but this ideological mindset would strip that person of all their wealth the moment they started to get a sizable income.
You’re owed nothing. Just because you’re alive and breathing doesn’t mean you’re owed a thing. Or as the McCann brothers said in one of my favorite movies ‘Secondhand Lions,’…. “if you need something, get it yourself. Or better yet, learn to live without.”