Economics
Macron Accused of Fighting for the Rich
- Narrowing of France’s wealth tax under fire from all sides
- Macron hits road to meet workers, push for new economy
Why Big Business Supports Macron
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President Emmanuel Macron was accused during France’s 2017 election of being a Trojan Horse for the outgoing Socialist government. Five months into his presidency he’s fighting criticism that he’s governing for the rich.
The 39-year-old president’s plans to overhaul the tax code have been criticized by unions, the opposition and even some members of his own political family as too generous to the well-off, particularly his plan to greatly narrow the scope of France’s wealth tax. That initiative comes on top of housing subsidy cuts and reduced levies on capital gains and corporate profits.