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this post was submitted on 10 Jul 2024
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To be clear the 90% tax is an income tax, which is actually not unprecedented as other commenters note. Melenchon has talked about 100% but I guess the other parties negotiated him down.
Actually, 90% income tax for the top incomes was common in western countries in the 50s.
On paper, yes, in practice, no.
In the US, at the time that marginal tax rates got that high, the amount of things you could deduct was also MUCH higher. Truth is, nobody ever actually paid 90% back then.
That sounds like the era. KISS was not a principle appreciated by economic legislators until the later 20th century. Mercantilism died slow.