[HN Gopher] French lawmakers vote against wealth tax on super-rich
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       French lawmakers vote against wealth tax on super-rich
        
       Author : geox
       Score  : 12 points
       Date   : 2025-10-31 21:20 UTC (1 hours ago)
        
 (HTM) web link (www.lemonde.fr)
 (TXT) w3m dump (www.lemonde.fr)
        
       | sharts wrote:
       | Of course.
        
       | roenxi wrote:
       | I'm generally in favour of a <2% land tax because it is basically
       | confiscatory - over the course of a lifetime (~20 years not
       | owning land, 50 years owning land, 100% tax). That forces people
       | to store their wealth in deprecating assets and means over time
       | the economy orients towards competent asset managers having all
       | the wealth as opposed to the usual equilibrium of forming a
       | landed aristocracy. It also can't be escaped because the land
       | can't be destroyed, not created or moved.
       | 
       | So I don't know much about the French situation being more than a
       | continent away, but in principle a 2% wealth tax can't fix a
       | budget hole. It is also confiscatory, making it ultimately a tool
       | of social engineering rather than revenue raising. It is a policy
       | to eliminate large pools of assets. Things that get eliminated
       | can't be taxed sustainably.
        
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       (page generated 2025-10-31 23:02 UTC)