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7. FRANCE - Analyzing Wealth Taxation Failures In California - VERONIQUE DERUGY 102226
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1903 FRANCE Analyzing Wealth Taxation Failures In California Veronique de Rugy critiques California’s proposed Proposition 40 billionaires wealth tax, drawing direct parallels to fiscal troubles in France. She explains that European wealth taxes failed due to administrative complexity and capital flight, arguing California’s measure will erode existing income tax bases rather than solve persistent structural state budget deficits. (3)