It isn't really a wealth tax. It is a tax on large incomes. A minimum of 20% on people who earn more than 250k Euro annually.
Don't the working class pay more than 20% anyhow? Can any French people please clarify.
UK activists are proposing an actual wealth tax (not income tax like France).
Individuls earning more than €250,000 a year and couples with a joint income of more than €500,000 will this year pay a minimum 20% income tax
My understanding is that it's not a new tax, but a 20% minimum income tax for high earners. It's a limit on how much income tax optimisation high earners can do.
Given the income tax rate in France, and a quick calculation, a single person earning €250000 should have a base income tax rate of ~35%. This is without any tax rebate, without any tax optimization.
So high earners who aren't doing lots of tax optimisation should already have an incoming tax that's higher than 20%.
So they still get to pay less tax than blue collar workers.
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