France’s New Popular Front Calls for 90% Tax on Income Above €400,000

Jaxon Gaines

Following a highly controversial election that left the country in turmoil, France’s left-wing New Popular Front (NPF) party is calling for a 90% tax on all income above €400,000. The NPF is now the largest group in parliament and is looking to use that new power to increase taxes for the rich.

The leftist alliance shockingly secured the most seats in the recent French elections. However, it fell short of the 289 needed for a majority in the National Assembly, France’s lower house of parliament. Now, France’s parties are now jockeying for position, with the New Popular Front looking to use its new seats to their advantage.

Manuel Bompard, from the hard-left France Unbowed party which is part of the NPF, said: “The president must appoint as prime minister someone from the New Popular Front to implement the NFP’s program, the whole program and nothing but the program.”

The NPF has introduced several new policies it would try to establish since its formation. These include raising the minimum wage; lowering the retirement age to 60; and the new 90% tax.

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French President Emmanuel Macron not allowed to attend BRICS summit.
Source: Reuters

With this proposal, the New Popular Front will still need to win approval from President Macron. With the proposal so extreme, it’s unlikely that this bid for further taxing the rich will be put into effect. It’s possible though that President Macron could seek a deal with more moderate elements of the NFP and their economic program.

On a positive note for the NPF, Macron’s government last week suspended a decree that would have diminished workers’ rights to unemployment benefits. This has been interpreted as a gesture toward the left. Ultimately such a move to tax the wealthiest citizens in France 90% will have some opposition in government, but time will tell if that proposed tax lowers a bit.

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