His source is he made it up.
Actually it has some factual basis. He’s wealthy, it would be bad for him, he thinks he’s the economy. He just has a big, selfish, ego.
Apart from this guy obviously being biased and a super villain: Nobody who held this opinion was ever able to even give me a rough idea of an explanation how it should supposedly damage the economy. The excessively rich don’t spend most of their wealth (which would induce growth through demand), they sit on it and watch it grow. Taxing it takes not a single cent out of the economy.
In this case we’re looking at proposed 2%. The fortunes of the excessively rich grow by 10% and more in a year. So with this tax they would still get richer and richer. Attach another zero to that number, then we’d be getting somewhere.
Nobody who held this opinion was ever able to even give me a rough idea of an explanation how it should supposedly damage the economy.
Because if you tax the rich, they move away! And that’s clearly bad because…
They take their wealth with them! Just think of all the jewellery that will hang of people’s necks in other countries and all the overpriced art that was never publicly displayed, now not visible elsewhere.
And of course they’ll take all the housing and factories and the land they’re built on, stuff it all in their pockets and fly away with it.Just think of all the jobs. Not the jobs, companies are already offshoring now, of course.
And ignore that companies make such decisions based on productivity, available infrastructure and supply chain networks.
No, they’ll move to less profitable countries because clearly not paying taxes is more important to rich people than making more money.And of course, we can’t tax people when they move away, so we shouldn’t tax them to avoid this.
Because if you tax the rich, they move away!
Yup. This wasn’t a warning about the economy, it was an ultimatum.
I don’t see any potential conflict of interest here whatsoever
Probably a good idea, if the money is used well and not just to maintain status quo. Paying off loans, building good infrastructure and financing Ukraine would be some excellent ways to use such money.
The time for talking about taxing the rich is over. Bring out the guillotines already.
Seeing that he is French, one would think he should know better than to invite this to happen.
Let’s get the old blood going again.
I’ve heard guillotines are deadly for the French economy too.
But the French already saw that movie so they’re probably trying to get in front of any repeat episode.Of course he’s gonna say that
Taxes on the working class are a gigantic portion of our income- billionaires taxes going up would literally be the equivalent of like a parking ticket for a working person. Inconvenient but you pay it and forget about it in a week.
Billionaires could and should be taxed at like 90% or more for income, and there should be a wealth or net worth tax for every single billionaire. The fucked up thing is that we (in the US) HAD THIS TAX CODE until Reagan fucked us all in the ass
The us tax system literally gave us a middle class and built the highways and created the largest economy on earth. AND THERE WERE STILL RICH PEOPLE
THERE WERE STILL OBSCENELY WEALTHY PEOPLE EVEN UNDER THAT TAX CODE
But they didn’t have more money.
I think about this clip from The Boondocks more and more lately
Do it, France. The wealthy are leeches.
If a rich man’s opinion about taxes shouldn’t be trusted, why should the French trust an English newspaper about it?
If [
legitimate concerns about conflicts of interest] then [genetic fallacy]genetic fallacy
Indeed. Because their mother was a hamster and their father smells of elderberries.
Touché. I wave my private parts in your general direction, you son of a window dresser.
I don’t actually care about the economy. Improve my material conditions please
Every fucking time.
Goddamned, insatiably greedy motherfucker billionaires.
Confirmed by this quote in the article. Certified motherfucker.
Arnault, who lives in Paris, sparked a French national debate over tax in 2012 when he sought Belgian citizenship. However, in April 2013, he withdrew his application as “a gesture of my attachment to France and my faith in its future”, according to Bloomberg.
So tax it is!
Fuck France’s economy then! Burn their cash!
Who asked the grass about mowing?
It’s worse, it’s like asking the parasite about it having to somewhat share what it has stolen from the host.
Everyone else screaming: That is the point you rich fuck!
Uhh what? You admit that the point is to ruin the economy?
You guys should be more loud about this.
