Did France expect something else when they elected a socialist?

[Katzndogz]

French business erupts in fury against "disastrous" François Hollande - Telegraph

“The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF.
“The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.”
MEDEF, France’s equivalent of the CBI, said the threat has risen from “a storm warning to a hurricane warning”, adding that the Socialist government of François Hollande has yet to understand the “extreme gravity” of the crisis.

 

[Trajan]

they never learn.

when Cameron fashioned their first tax policy, they stuck it to the 'rich', well guess what , not only didn't they meet the revenue goal they projected in year 1, (50p tax rate 'failing to boost revenues’ - Telegraph), it its looks like year will fail abysmally too.

That Britain , with the highest property taxes in the OECD is now the safe haven for french money is beyond ironic.

 

[there4eyeM]

Those who know nothing about France should stick to their own country. The political process, climate and discussion is much different from the Yankees. They have real debates and present all the candidates on television. People learn about other cultures and are aware that different ideas and thinking exist. They even teach philosophy in high school (lycee)!

Not everything everywhere functions as in the US. Not every word means the same to everyone. The French economic system suffered much less than America's and quite a number of other countries in the collapse provoked by American greed.

Wait and see what happens. The Germans aren't always right about Europe.

 

[Foxfyre]

As the much higher taxes on the rich have not produced the expected revenues--they never do in any country--Hollande has now turned his focus on imposing an art tax also imposed on the very rich. This is unpopular with both the left and right as art is especially important to the French and has been exempt from the tax since Mitterand's failed experiment with taxing art some decades ago.

Looking at the luxury taxes imposed on the rich during Bush 41's term, it not only also failed to produce the expected revenues, it almost destroyed our domestic boat and private plane industries and drove most of our high value jewelry industry off shore to places like Grand Cayman. Many tens of thousands of jobs were lost in the process.

I doubt Hollande's venture into this kind of revenue raising will fare better.