Skip to content

Legislative 2022: tsunami of taxes in the Nupes program

Prestigious support. Jean-Luc Mélenchon has received the official support of Thomas Piketty, author of the world bestseller Capital in the 21st century. For the economist, the program of the New People’s Ecological and Social Union (Nupes) marks “the return of fiscal and social justice” and “offers much better prospects than the current majority on the need to finance the necessary investments in a fair, transparent and democratic”. Piketty had even participated in the brainstorming of the presidential project of Mélenchon via the think tank Intérêt Général, which worked on the taxation of inheritances.

Disciple of Piketty, Gabriel Zucman, professor at Berkeley, known in the United States for his work on inequalities, also supports the Nupes project, less enthusiastically: “It has the merit of putting tax issues back at the heart of the debate, even whether we can more or less like certain proposals.” He is convinced that very high taxation of “exceptionally high incomes” goes in the (good) direction of history. By taking us back to the post-war period, when high taxes had greatly reduced inequality.

“Robin Hood Plan”

With his burst of taxes on the rich, Jean-Luc Mélenchon convinced these economists who denounce the explosion of the weight of fortunes, revealed by the ranking of the first 500 of Challenges -1,000 billion euros in 2021, i.e. a surge of 30% in the year of emerging from the pandemic. Faced with this “parasitic capitalism”, with these rich people whom he describes as “assisted” receiving billions in tax benefits from the State, Mélenchon has unleashed the heavy artillery, a “Robin Hood plan” which aims to ” take from the rich to distribute to the poor”.

In his viewfinder, the very high incomes (more than 400,000 euros per year) which should release 90% to the State according to his presidential project, twice as much as today. And capital income, which had benefited from the 30% flat tax created by Emmanuel Macron, would be taxed like labor income, up to 90%. For their part, the big heirs would be shorn: above 12 million euros, the far-left leader “takes everything, to finance an allowance for young people”. And wealth holders would pay a new ISF supposed to bring in 10 billion euros, twice as much as before its 2017 reform.

Leave a Reply

Your email address will not be published.