Yet other candidates are making hay with a message of a greater assault on wealth. “Greed must be done away with for virtue,” Jean-Luc Mélenchon, the far-left candidate, has exhorted, campaigning on a platform that includes a 100 per cent top rate of income tax, for those earning more than €360,000 a year.
I think we can work out how well that would work, no?
And as for Ritchie’s wealth tax:
The wealth tax costs France more than it yields, says Eric Pichet, a professor of economics at finance at Kedge Business School, who calculates that the country loses €5bn in tax revenues each year because of people who leave to avoid paying the tax.