France’s vicious circle must not be exacerbated after the coronavirus crisis

There is a well-known vicious circle in France: The employment rate is abnormally low; This generates an abnormally low level of per capita GDP; And leads to a very high tax burden to finance the necessary public spending; The very high tax burden reinforces the low employment rate (by increasing labour and capital costs), etc. After the coronavirus crisis, this vicious circle must not be exacerbated by further increasing the tax burden, either for financial reasons (fiscal deficit reduction) or for political reasons (getting “the rich” and companies to contribute to resolving the crisis).