Business Fleeing France as 75% Income Tax Looms

[Wiseacre]

Yep,

Raising the taxes on the rich doesn't work as they will move. Secondly, they will pass the cost onto the consumer.

At the end of the day the poor and the middle class gets fucked.

Lot's of millionaires failed to move during the Eisenhower Administration, when the top rate in the US was above 90%.

Where were they going to go? We were the only game around until the 60s. Tax rates weren't that low elsewhere either.

 

[francoHFW]

From that Newsmax article:

The real estate agents don't expect a collapse, however, as the offers to sell still remain low and interest by foreign buyers firm.

Finance Minister Pierre Moscovici said he has seen "no indication of a massive fiscal exodus".

He told the daily Le Parisien that debate on the 75-percent income tax bracket was "closed" but noted that it was only a temporary tax for two years.

Also says it's not as bad as when Mitterand was elected in 1981, and that was no big deal....

 

[uscitizen]

And we whine about the 14% tax that Romney pays?

LMAO!

 

[whitehall]

Scuse me but it seems that France might be fleecing business.

 

[percysunshine]

France has elected a far left government. The object lesson may show up in the US elections sooner than anticipated.

 

[Wiseacre]

From that Newsmax article:

The real estate agents don't expect a collapse, however, as the offers to sell still remain low and interest by foreign buyers firm.

Finance Minister Pierre Moscovici said he has seen "no indication of a massive fiscal exodus".

He told the daily Le Parisien that debate on the 75-percent income tax bracket was "closed" but noted that it was only a temporary tax for two years.

Also says it's not as bad as when Mitterand was elected in 1981, and that was no big deal....

He's Hollande's Finance Minister, what do you expect him to say?

Temporary for 2 years? Maybe so, I think by then the french economy will be so damaged that they may well reduce their tax rate out of desperation. The rich frenchpersons who will leave or have already left may or may not decide to come back, but that does not change the fact that they are leaving now, nor that their economy will suffer as a result.

 

[francoHFW]

Frenchies don't like leaving France AT ALL LOL.

 

[Political Junky]

Frenchies don't like leaving France AT ALL LOL.

I can certainly understand why anyone would be hesitant to leave France.

 

[daveman]

So, leftist policies are a proven failure in Europe.

The left's reaction here?

"Pffft! It'll work FINE here! Trust us!"

Pass.

 

[percysunshine]

The history of the construction of the Panama Canal is ...well...enlightening.

 

[uscitizen]

Frenchies don't like leaving France AT ALL LOL.

I can certainly understand why anyone would be hesitant to leave France.

Yeah they are kind of like Texicans, no one wants them.

 

[Dont Taz Me Bro]

France will end up taking in less revenue after the implementation of this tax than they did before, guarantee it.

 

[McDowell's]

The happiest place on earth is socialist....

Then why the hell are you still here? You seem like a pretty miserable person.

He did not qualify under their immigration policy...

 

[nitroz]

This shows that there IS a difference between Socialism and the Democratic Party.

The Democratic party wants everyone to cough up their fair share and help everyone while abiding by our rights, liberties, and structure of government/economy.

As you see here, the socialism approach is taxing the fuck out of people and having the government do the spending. Like communism.
Say you got that 100K job? You are now in the same economic situation with that guy who makes minimum wage doing part time.



The ignorance, prejudice, and stupidity is killing me.

 

[uscitizen]

France will end up taking in less revenue after the implementation of this tax than they did before, guarantee it.

So it is really a tax cut then?

 

[francoHFW]

It's a 2 year tax on the bloated rich in France. Another cure for the debt problem BOOOSH BULLSHYTTE hit the world with. There is no new entitlement attitude here EITHER, dupes. Thanks for the cronyism/corruption BUST. Assume the position.