Posted on 01/02/2014 1:55:45 PM PST by Lorianne
France's Constitutional Council gave the green light on Sunday to a 'millionaire's tax', to be levied on companies that pay salaries of more than one million euros, or about $1.4 million, a year.
The measure, introduced in line with a pledge by President Francois Hollande to make the rich do more to pull France out of crisis, has infuriated business leaders and soccer clubs, which at one point threatened to go on strike.
It was originally designed as a 75 per cent tax to be paid by high earners on the part of their incomes exceeding one million euros, but the council rejected this, saying 66 per cent was the legal maximum for individuals.
The Socialist government has since reworked the tax to levy it on companies instead, raising the ire of entrepreneurs.
(Excerpt) Read more at cbc.ca ...
And of course the wealthy will stick around to pay it.
I am sure the wealthy will be happy to stick around and pay for what they voted.
This idiocy should do wonders for France’s anemic economy as major businesses relocate (and shed French employees).
This kind of thing is in our future, if we keep electing Democrat presidents and members of Congress.
Karl Marx must be smiling right now.
The French made a bad decision? I can’t believe it. Before you know it nobama will make one too.
The fallacy of such a tax is that it ignores the truly wealthy who earn their wealth from means other than a “salary”. The extremely rich like taxes such as this because they keep industrious entrepreneurs from succeeding beyond their proper place. It prevents the accumulation of wealth in the hands of the hoi polloi. The socialists like it for the same reason, but also for the political smoke and mirrors that placate the “poor” and “underprivileged”.
Socialists never learn.
Nobody in Hell smiles.
I insist that all the Hollyweird libtards who threatened to move to France move there now and prove that they are true socialists.
The French Revolution comes home to roost.
To all the business owners in the USA.
TAX REVOLT!
Defund the threat before they come take it here too.
Do not pay Taxes.
Do not withhold taxes from your employees.
Teach them why.
Oh yeah, and fire anyone who admits that they voted for Obama.
France has entrepreneurs?
Can leave.
DOH!
Coming soon to DeBlasio’s NYC
Sh##hole new muslim nation oui oui
taxes don't hurt the rich, they keep YOU from becoming rich.
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