France has a pay problem. After adjusting for inflation, the average French worker earns slightly less than in 2019, per OECD data charted by the WSJ. In the US, real wages rose about 8% over the same period. Real average annual wages, 2019 → 2025: US: $82K → $88K Germany: $76K → $77K UK: $68K → $67K South Korea: $59K → $62K France: $62K → $61K

France keeps coming back to the wealth tax, budget after budget, and I follow it closely from here. The Zucman tax would take 2% a year of net worth above €100 million, including shares in your own company. The Assembly voted it down on October 16. On November 7 LFI put it at the top of their presidential program anyway and promised €15 billion a year from it. The Conseil d'analyse économique and Philippe Aghion put it at no more than €5 billion once people optimize or leave, and the Conseil d'État has flagged it as possibly unconstitutional. Think about what it means for a founder. Elon Musk's wealth is Tesla and SpaceX stock. A 2% yearly tax on that gets paid by selling shares, and after 20 years of it you've handed over about a third of what you built, in good years and bad ones. France already tried this. The ISF was scrapped in 2018. Imagine that energy going into building the French SpaceX.

France’s youth are standing up to the same bourgeoisie who have profited from the Global South for over 2 centuries. Throughout history, empires have “granted” their colonies “freedom”, but they always included fine print to continue benefiting without scrutiny.