L’uomo più ricco della Francia, Arnault di LVMH, Slams ha proposto l’imposta miliardaria

Breaking news! Frosty the snowman slams proposed snow tax

Billionaire likes money, what a shocker.

It’s a 2% tax, I would keep my mouth shut – it’s much smaller than I’d expect.

He simply can’t have more of a tax on his billions. He’s barely hanging on. Will no one think of the precious billionaires!

I guess a lot of people will be even more supportive of this tax because of this.

My heart absolutely breaks for millionaires and billionaires who might have a tiny little bit less money if this passes, unless they find the loopholes carefully included so that they can keep their money, only it’s going to be a tiny bit more difficult to access.

*my heart breaks, I tell you.*

In other news: Children hate bedtime. More news at 8.

No one gives a fuck what the rich thinks. Eat them.

I’m paraphrasing badly here, but someone once said that the rich should remember that taxes are the compromise society came up instead of storming the castle with pitchforks.

Bilionaires are not your friend

Like most of his kind he thinks he has somehow “earned” that obscene wealth. I don’t think logic and reason will convince him otherwise.

And when he decides to leave France, and his whole industry away from France to set up industry in the US, the Left will probably demand that they forcefully retain his business and/or forcefully take over his business.

Nothing like forced appropriation in the name of The Greater Good.

I’m tired of this crap.

Let’s settle it once for all. A giant Boxing ring.All billionaires and multi millionaires in one corner, non-billionaires in the other, and the loser team gets a 100% tax on every cent earned above a hundred Million dollars. Deal? Anyone for that, say Aye.

What I don’t get is – if I had that much money and they proposed a tax like this, it wouldn’t even register. In what way will it impact anything that he is doing or wants to do?

Billionaires should be seen as the system not working – nobody needs that kind of wealth and no single individual should have that much power (money = power in a capitalist system).

Do you know the story of Bernard Arnault ?

In 1981, François Mitterrand was elected President of France. Bernard Arnault, then 32 years old and already an ambitious real estate developer, panicked.

Fearful of the socialist wave, he dreaded the worst : a “Bolshevization” of the French economy, or even a Soviet invasion of Europe at the height of the Cold War. He hastily liquidated his assets and fled to the United States in late 1981, taking his wife and daughters with him.

In New York, Arnault tried to bounce back by launching a luxury real estate project (a high-end development in Palm Beach, Florida). But it was a disaster. The venture turned into a financial fiasco. He lost a fortune (around $15 million) and ended up sleeping on an air mattress in an empty apartment.

Meanwhile, back in France, his former McKinsey colleague (where they had worked together in 1971–1972), Laurent Fabius, was rising through the ranks. Appointed Prime Minister in July 1984, Fabius oversaw the restructuring of struggling companies. One of the most pressing cases was Boussac Saint-Frères, a textile giant on the brink of collapse, owning Christian Dior, the Le Bon Marché department store, and numerous troubled factories.

To save the group, the French government injected nearly 1 billion francs (about €300 million today). Arnault, now back in France in mid-1984 (penniless but with his valuable connections) saw an opportunity. Thanks to his political ties (including Fabius, who reportedly recommended him to the authorities), he won the bid to acquire Boussac for a symbolic sum.

There was one strict condition : limit layoffs to preserve jobs. Arnault publicly committed, but once in control, he made a radical shift. He shut down factories and implemented massive restructuring plans, cutting over 9,000 of the 16,000 jobs. He kept only the ultra-profitable crown jewels: Christian Dior and Le Bon Marché.

This bold move laid the foundation for the LVMH empire. Ironically, it was a socialist government that gave him the springboard to capitalist glory.

(Translated from the French X account @p_duval)

He would.

Wow, what a surprise… As far as billionaires go: they should not exist and we should take all their money.