90% Tax

Hi Global Recap readers,

Yes, you saw that right.

90% tax.

The newly formed left-wing coalition in France is actively advocating for the implementation of this plan targeting high-income individuals to finance their ambitious spending agenda.

Imagine such a plan being implemented in your own country.

Do you agree with it? What will it look like?

Let us know. 👇

🇫🇷 France
Radical Changes Being Pushed

After the recent legislative elections, France’s left-wing coalition, the New Popular Front (NPF), has become the largest group in parliament.

🔘 Election Results. Since its inception, it is now actively pushing for Macron to appoint a prime minister who will implement radical changes.

These include:

• Introducing a 90% tax on annual incomes above €400,000.

• Implementing price controls on essential goods like food, electricity, gas, and petrol.

• Investing heavily in green transition and public services.

• Lowering the retirement age to 60.

• Raising the minimum wage.

Some of these, we’ve all heard about before. But a 90% income tax for a select number of people? Is this a good idea?

That means, on the surface level, a person earning €400,000 will take home €40,000.

Things to consider:

• Supporters of the 90% wealth tax for high-income individuals believe it will generate significantly more revenue for the government to fund its welfare programs, reduce income inequality, and provide better public services.

• Opponents argue that it discourages people from aspiring to be high-income individuals, thereby stifling hard work and innovation. They also contend that it will drive corporations out of the country, ultimately reducing government revenue.

📊 Poll

🇫🇷 France
Lawfare against Le Pen?

The Paris prosecutor’s office has launched an investigation into Marine Le Pen’s 2022 presidential campaign financing, focusing on allegations of embezzlement, forgery, fraud, and accepting a loan.

🔘 Investigation. The probe follows a preliminary inquiry and will now be handled by a judge.

• The investigation was triggered by a report from the national committee scrutinizing campaign spending (CNCCFP).

• The CNCCFP had previously noted irregularities in Le Pen’s campaign, such as unauthorized poster placements.

🔘 Past Issues. Le Pen’s previous campaigns have also faced scrutiny.

• Her 2017 campaign had loans that were not refunded due to high interest rates.

• Le Pen is set to go on trial in September for alleged misuse of EU funds, risking fines, 10 years in jail, and disqualification from future elections.

🔘 Online. Many people online are calling this blatant “lawfare,” a term recently used to describe the legal cases against former US President Trump, which resulted in him being found guilty of 34 charges.

• Similar to the claims made about the charges against Trump, supporters of Le Pen believe this investigation is being used by those against Le Pen to permanently silence her, as the next presidential election could see her win the presidency.

Is this another “conspiracy theory,” or an inconvenient truth?

🇺🇸 United States
Iran’s Influencing US Protests

The US Director of National Intelligence, Avril Haines, has issued a warning about Iran's ongoing efforts to influence pro-Palestine protests within the United States.

🔘 Interference. Iranian agents have been actively trying to influence US protests.

• They have used social media and other cyber activities to pose as activists.

• Iranian actors have been funding and promoting protests to exploit US debates for their own purposes.

🔘 Warnings. The US government is cautioning the public about foreign influences in domestic protests.

• Haines emphasized that while most American protesters act in good faith, foreign actors are trying to exploit these movements.

• The White House reiterated the importance of Americans’ right to protest while warning about foreign meddling.

🔘 Impact. Even small foreign involvement can increase divisions in the US.

• Experts note that foreign campaigns, even if limited, can exacerbate existing US polarization.

• Countries like Russia and China also have interests in sowing dissent within the US.

🇺🇸 United States
Meta, Now Removing Posts Using the Term “Zionists”

Meta is updating its hate speech policies to remove posts containing the term “Zionist” when used with antisemitic tropes or dehumanizing rhetoric.

🔘 Policy Update. This decision follows a months-long inquiry into the term’s usage.

• It has been determined that the term “Zionist” is sometimes used as a proxy for “Jew” or “Israeli” in a negative context.

• Meta consulted over 145 experts, including historians and civil rights groups, to reach this decision.

🔘 Guidelines. The new policy targets specific harmful uses of the term. If you’ve been active online recently, you would have seen most of these being circulated.

• Posts that link “Zionists” with antisemitic claims about Jews running the world will be removed.

• Content drawing comparisons between Jews and animals or calling for harm against Jews will also be targeted.

• Statements denying the existence of Jews or mocking them for having a disease are included.

Currently, the term “Zionist” isn’t used simply to describe those who support the creation of a Jewish state, as some argue. Instead, it’s often used derogatorily to refer to Israelis and Jews overall. Furthermore, anyone supporting Israel is often labeled as a “Zionist” too.

🇬🇧 United Kingdom
Rwanda’s Keeping the Money

The new British Prime Minister, Keir Starmer, has announced the termination of the controversial migrant deal with Rwanda, which involved deporting asylum seekers to the East African nation.

However, the problem doesn’t end there…

🔘 Cancellation. Starmer has decided to end the agreement with Rwanda, calling it a “gimmick” and stating it does not act as a deterrent.

• The deal was initially introduced by the Conservative government in 2022 under Boris Johnson.

• It faced numerous political and legal challenges, with critics arguing it violated human rights.

• Amnesty International UK called the plan a “stain on this country’s moral reputation.”

🔘 Reimbursement. However, the problem is that Rwanda has now indicated it will not return the $300 million received from the UK.

• A Rwandan government spokesperson confirmed there was no clause in the agreement regarding reimbursement.

• The UK had given Rwanda £240 million (around $307 million) as part of the deal.

Free money for Rwanda?

🇮🇳 India
Putin promises release of Indians

India has secured a promise from Russia to release Indian citizens who were misled into fighting in the Russian army.

This development follows Indian Prime Minister Narendra Modi’s visit to Moscow, where he discussed the issue with President Vladimir Putin.

🔘 Promise. Indian Foreign Secretary Vinay Kwatra announced that Russia promised an early discharge of all Indian nationals.

• About 35-50 Indians were involved, with 10 already brought back home.

🔘 Deception. Many Indians were lured to Russia under false pretenses.

• Agents promised lucrative non-combat jobs and Russian passports.

• These individuals were from poor families and were misled into active combat roles in Ukraine.

• A network of agents trafficking people to Russia was busted earlier this year.