They already have a 45% income tax above €177k, a 30% capital gains tax, a 36.2% real estate gains tax, and a corporate tax rate of 25% - much higher than their peers in the rest of the EU.

The reality is France can't afford the status quo (in reality, only the expansion from 2005-25 was prolifigate) much longer.

Under IMF or ECB receivership, taxes would rise AND social services would be cut. By cutting stuff today, they can at least minimize the pain from cuts.