You can put this on whole France, this is general approach at least for past few decades.
Ultra rich easily bypass all those populist moves to 'tax rich', poor have sometimes unreasonable protections (ie you can just stop paying rent, give big FU to the owner, change locks and maybe, theoretically after 6 months of courts he can evict you on his costs, while you trash the place into nothing without any recourse - some real cases of friends living there).
Its outright the worst possible place in whole Europe to be rich (again, those ultra rich are off the quite corrupt system, just check all (super)yachts in whole Cote d'Azur), government goes after you like a rabid dog, inheritance tax is easily 40%. All the bankers I've talked to (not professionally, I am just a normal guy) advised against any investment in that country before you cross ultra high net worth line, then all this disappears.
Yet absolutely nobody strikes against this corruption and unfairness, middle class just buckles up and continues, at least whats left of it.
> Its outright the worst possible place in whole Europe to be rich
I guess it's a good thing Europe has free movement! They are free to be rich in Amsterdam, Berlin or Brussels. If the wealth is generated in France, then they should put up with the French inconveniences.
Don’t worry I’m upper middle class and roughly 75% of my salary goes straight to taxes while everything that’s state provided (schools, hospitals, security, infrastructure) just collapses.
That's only income tax. There's also social contributions including pension, health insurance, and unemployment insurance. This adds up to around an extra 20% tax (although pension contributions are capped so could be less for very high salaries).
Ultra rich easily bypass all those populist moves to 'tax rich', poor have sometimes unreasonable protections (ie you can just stop paying rent, give big FU to the owner, change locks and maybe, theoretically after 6 months of courts he can evict you on his costs, while you trash the place into nothing without any recourse - some real cases of friends living there).
Its outright the worst possible place in whole Europe to be rich (again, those ultra rich are off the quite corrupt system, just check all (super)yachts in whole Cote d'Azur), government goes after you like a rabid dog, inheritance tax is easily 40%. All the bankers I've talked to (not professionally, I am just a normal guy) advised against any investment in that country before you cross ultra high net worth line, then all this disappears.
Yet absolutely nobody strikes against this corruption and unfairness, middle class just buckles up and continues, at least whats left of it.