Some wealthy Parisian taxpayers are considering relocating if presidential candidate Jean-Luc Melenchon wins the upcoming French election.
It appears that these French taxpayers are a bit more serious than the Americans who threaten to move to Canada every four years — Melenchon’s tax policies could severely impact the pockets of the country’s wealthiest citizens.
The communist-backed candidate has expressed admiration for Venezuela’s Hugo Chavez and has an agenda that worries top earners. Among Melenchon’s plans are caps on executive compensation, a 90 percent tax on individuals who earn more than 400,000 euros per year, and a higher inheritance tax.
The French presidential election begins Sunday and runs through May 7.
“There’s no economy possible with a President Melenchon. His plans for taxes, for limits on wages — it’ll be a bigger blow for the economy than the terrorist attacks were.”
“Some of France’s Rich Are Considering Exile If Melenchon Wins,” Helene Fouquet, John Follain, and Gregory Viscusi, Bloomberg.
“…the world will be watching to see just how far the “populist wave” has travelled. “
“When is the French Presidential Election 2017, how does it work and who are the candidates?,” James Rothwell Henry Samuel, The Telegraph.
The Sanders comparison:
“…Jean-Luc Mélenchon, whose policies are so liberal they make Bernie Sanders look like a right-winger.”
“A far-left politician is shaking up France’s presidential race,” Sarah Wildman, Vox.
Photo: Tasi Zoltán.