NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 3, 2008
- Messages
- 35,712
Macron is under pressure to reinstate the wealth tax.
What I find surprising is that France wealth tax did not bring in that much, only 1.5% of the total tax revenues despite having an exemption not that high. Here in the US, a large percentage of Californians would be above the French threshold with just their home, let alone their investable assets.
Perhaps that's how there is not much wealth disparity in some countries. There are just not that many upper middle-class people. There are not many who can afford to retire early in these countries either. As FIREd described earlier, early retirement is practically unheard of in France. I suspect it is the same in other Western countries. They ask, how one can save enough to retire early with no pension. If you do not work, you must be a bum, or sell drugs.
The US is quite different than many countries, whether you take it as good or bad.
What I find surprising is that France wealth tax did not bring in that much, only 1.5% of the total tax revenues despite having an exemption not that high. Here in the US, a large percentage of Californians would be above the French threshold with just their home, let alone their investable assets.
Perhaps that's how there is not much wealth disparity in some countries. There are just not that many upper middle-class people. There are not many who can afford to retire early in these countries either. As FIREd described earlier, early retirement is practically unheard of in France. I suspect it is the same in other Western countries. They ask, how one can save enough to retire early with no pension. If you do not work, you must be a bum, or sell drugs.
The US is quite different than many countries, whether you take it as good or bad.
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