LVMH owner Bernard Arnault, who could take €1bn hit, says proposed 2% levy ‘aims to destroy liberal economy’

cross-posted from: https://lemmy.world/post/36272492

Europe’s richest man, the luxury goods magnate Bernard Arnault, has said that a wealth tax that could cost him more than €1bn (£817m) would be deadly for France’s economy.

The French founder of LVMH Moët Hennessy Louis Vuitton said in a statement to the Sunday Times that calls for a 2% wealth tax on all assets “aims to destroy the liberal economy, the only one that works for the good of all”.

The idea of a wealth tax has steadily gained ground in France because of a political crisis, with the government trying to push through unpopular budget cuts. The idea of a 2% wealth tax on fortunes worth more than €100m has been proposed by Gabriel Zucman, an economics professor who has become a household name in France.

  • merc@sh.itjust.worksEnglish
    1·
    6 hours ago

    Try replacing “the economy” with “rich people’s yacht money”. From a tweet many years ago.

    • Medicare for all would destroy rich people’s yacht money
    • The Dow Jones jumped 5%, indicating a real strength in rich people’s yacht money
    • etc.