Posted on 10/01/2012 12:38:49 AM PDT by UnapologeticConservative
Back in May I wrote a piece describing Francois Hollande’s election victory as emblematic of the EU’s decline, noting that “his government promises to be a symbol of everything that is wrong with Europe today.” True to his election campaign promise, the new French president, together with his prime minister Jean-Marc Ayrault, has outlined his plans for a 75 percent marginal income tax rate tax on anyone earning more than €1 million Euros a year.
This is economic suicide for the second biggest economy in Europe, a supreme act of financial har-kiri for a country whose public debt has now risen to 91 percent of GDP, a growth of 30 percent in five years. This is part of €20 billion Euros worth of new taxes, mainly on businesses and high earners, unveiled by a backward-looking Socialist government seemingly intent on economic self-destruction. As Jean-Paul Agon, chief of L’Oreal told The Financial Times earlier this week, it will now become “almost impossible” for France to attract leading business talent.
(Excerpt) Read more at blogs.telegraph.co.uk ...
But if Romney gets elected, then all that will be okay. Then 75% taxation will be a good thing?
She wants to greatly restrict immigration, reduce taxes and simplify the tax code, give preference to French citizens in public housing over immigrants, and have illegal immigrants have no right to public housing, etc.
Go find where she's proposing fascism.
The Left worships death and destruction so the headline isn’t a surprise.
Large companies have been making this kind of move for years. I worked for a French owned company - they createed and located an Intellectual Property holding company in Switzerland within the last decade, licensing back the IP to the various subsidiary companies throughout the world so large licensing fees from each would be taxed at the Swiss rate prior to flowing back to the French parent as already taxed profits, avoiding taxation at the corporate level by France. There are a large number of such IP holding companies now located in Switzerland, probably will grow even more (even within Switzerland there are cantons with preferable tax rates that have prospered from the IP companies locating there - few employees with substantial corporate income).
World wars are born of this stuff.
When we take France back from the Germans again, do we get to KEEP it?
It would be no trivial task to sort out the parts you wanted to keep from those you didn’t.
When the left screws up —the right must fix it. Who knows maybe they need an Emperor or King? Marine LePen may not be a fascist but the French Nation may be forced to head in that direction to keep from becoming a failed state and a province of Germany.
Unfortunately, France may be past the tipping point where the number of voters dependent on government exceeds 50%.
Please post a link to where Romney or Ryan have even advocated a 75% tax rate.
Or cut the crap.
LOL: fair question.
That would make a great bumper sticker.
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