The NY Times reports:

The protests that began last autumn were originally over a gasoline tax, but morphed into a larger collective outcry over declining living standards that many average French people complained were rooted in high taxes, while the upper-middle classes in the big cities, let alone the rich, were doing just fine.

The protesters have lashed out at Mr. Macron for favoring the very rich by eliminating a wealth tax, among other inducements as part of his plan to stimulate the economy.

How pathetic. The “protesters” hate the taxes they pay but love the taxes other people, such as “the rich,” pay.

It’s true, however, that taxes can be a device for bestowing privileges, as they prevent poor people from accumulating wealth by competing with the established vested interests.

Again, Mises points out:

From day to day it becomes more obvious that large-scale additions to the amount of public expenditure cannot be financed by “soaking the rich,” but that the burden must be carried by the masses. …

Every penny of additional government spending will have to be collected from precisely those people who hitherto have been intent upon shifting the main burden to other groups.

Those anxious to get subsidies will themselves have to foot the bill.

It is clear that the France’s reserve fund has now been completely exhausted. The Yellow Vest protesters are objecting only to the consequences of their own folly.

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