Image via WikipediaDebt & Tax Avoidance: Causes of French Revolution (re-post)
The French nation was bankrupted by three highly costly, successive wars, namely, the War of the Austrian Succession, the Seven Years War and the American War for Independence. In 1739, the French had just managed to come out from the debts and extravagant spending of the late Sun King, Louis XIV, such that they just started to run a modest budget surplus. This was not to last. The War of the Austrian Succession, from 1740-1748 cost the French 1 billion livres, most of this borrowed from wealthy noblemen at high interest rates, as the French didn’t pull in enough revenue from taxation to pay for the war. As such, the country began to run a sizeable national debt
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