submitted 1 week ago by [email protected] to c/[email protected]

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.

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[-] [email protected] 44 points 6 days ago

This is a bit of a misleading summary.

Melenchon speaks for his own party, France Unbowed (LFI), not the entire NFP alliance.

The NFP as a whole has not declared support for Melenchon's position, although his party controls 71 (~41%) of NFP's 180 seats in the National Assembly.

Macron has already indicated that he will not allow Melenchon to become Prime Minister, and the entire NFP will be aware that they must select a more moderate leader to represent them if they expect to gain enough support from the centre to operate as a minority government.

[-] [email protected] 9 points 6 days ago

Macron has already indicated that he will not allow Melenchon to become Prime Minister

Good news for LePen, I guess.

[-] [email protected] 8 points 6 days ago

Thx stranger, so hard to get news from a single source if you're not a specialist on the topic

[-] [email protected] 8 points 6 days ago

It's not just Macron or Ensemble, even within the NFP some parties don't want Melenchon from what I understand. At least the PS (Parti Socialiste, but they're actually just social democrats) which has 59 seats and therefore the second most seats in the NFP doesn't want him to be prime minister.

[-] [email protected] 26 points 1 week ago

To be clear the 90% tax is an income tax, which is actually not unprecedented as other commenters note. Melenchon has talked about 100% but I guess the other parties negotiated him down.

[-] [email protected] 13 points 6 days ago

Actually, 90% income tax for the top incomes was common in western countries in the 50s.

[-] [email protected] 4 points 6 days ago* (last edited 6 days ago)

Just 90% has the pro that you'll actually collect revenue. Nobody's paying out money that doesn't reach the intended party even a bit. However, I feel like 100% would be worth it just for the paradigm shift in the way we think about society - that maybe there should be limits to how "special" you can get, and that that's not spooky communism but simply realism about our mortal condition.

[-] [email protected] 4 points 6 days ago* (last edited 6 days ago)

On paper, yes, in practice, no.

In the US, at the time that marginal tax rates got that high, the amount of things you could deduct was also MUCH higher. Truth is, nobody ever actually paid 90% back then.

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[-] [email protected] 5 points 6 days ago
[-] [email protected] 7 points 6 days ago* (last edited 6 days ago)

Petrol price controls is a terrible idea.

Why not subsidised (free) public transport, more cycle lanes more cycle parking, subsidised electric bikes, mandated EV charging.

[-] [email protected] 6 points 6 days ago

Because motorists hate anything that would help them. Why would you not want a separate bike lane as a motorist? It reduces congestion and gets the cyclist you hate so much off the road at the same time! It's a win win!

[-] [email protected] 3 points 6 days ago

In my experience, people tend to not want things that don't benefit them directly.

If they don't use the bike lanes they don't want them to take up what could be a car lane they would use.

[-] [email protected] 4 points 6 days ago

Lots of places in France are so remote and sparsely populated that public transport does not work there, at least not yet. It may or may not work once autonomous vehicles are fit for rural areas, but this may take a while.

[-] [email protected] 2 points 6 days ago

Give them money then. Don't give them cheap petrol.

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[-] [email protected] 2 points 6 days ago

Can we get a non Murdoch source on this?

This is not a tax on the rich, it's a tax on the upper middle class.

[-] [email protected] 25 points 6 days ago

The... upper middle class....? An income of 400,000 euros? that's 10x the median income.

What tf is rich then?

[-] [email protected] 8 points 6 days ago

Policies favoring the rich are always sold as favoring the middle class. If middle class means the rich, then upper middle class means the filthy rich.

[-] [email protected] 2 points 6 days ago

People who make money by investing. In the USA, the top 1% earn their income through investments, usually the purchase and sale of stocks. These are not taxed the same as regular income because they made the argument that you can't really tax unrealized gains on investments that are sold, and it takes a while for the gains to actually materialize. Also, they tend to store their money, their liquid assets, in countries with looser tax laws, called tax havens. Much of their net worths are tied up in investments. Businesses, homes, art, classic vehicles, precious metals futures, oil futures, boats, etc.

Assessing the value of all of that is a chore, and they also pay lobbyists to keep the IRS defanged so that they don't have the resources needed to go after the 1%. And don't get me started on how much more speculative the stock market has become. Investors buy stocks, not on the expected dividends they'll receive as a share of the profits of the business, but on their ability to flip the stock and sell it at a higher price to another investor, who is only buying because they anticipate flipping the stock. It's like if a whole neighborhood of single family homes gets bought up buy a few house flippers, who make renovations, then put the houses up for sale, and sell to new flippers, who are only buying so they can make further renovations, increasing the value of the property again to sell to yet another flipper, ad nauseam.

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[-] [email protected] 9 points 6 days ago

I laugh so hard because the headline for me is great news, only now I realized it's sky news so it's supposed to be scaring people

[-] [email protected] 8 points 6 days ago

Your instinct to search for a non-Murdoch source is correct, as they are trying to paint the entire NFP as holding the same positions as their most extreme member.

There is little to no chance of Melenchon becoming Prime Minister or having any ability to enact this tax.

However a marginal tax rate of 90% on income over €400k is well above the upper-middle class and would apply to only the wealthiest families, most of whom would still have other avenues to minimise the tax they actually pay.

[-] [email protected] 7 points 6 days ago

400'000€ yearly income is not middle class. It is roughly the top 1%. Are you maybe mistaking property for income?

I would have preferred taxing on property instead of income, but as long as interests and profits and other benefits are part of income, it sounds reasonable to me.

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this post was submitted on 10 Jul 2024
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