Wiseacre
Retired USAF Chief
You want to know what's going to happen here if Obama gets his way? Just look at France, who is a bit ahead of us on the shift to the left.
snippet:
" Nearly 100 French CEOs, among them the heads of Accor, the hotel chain, Air France, Carrefour, L´Oréal, Peugot, Siemens, SociétéGénerale and Veolia, the giant waste and water utility, are urging socialist President Francois Hollande to reduce government spending by 60 billion euros (about $76 billion) over the next five years, and reduce payroll taxes by 30 billion euros over the next two years. The cost of government, they say, has reached the limits of what is bearable.
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" Government spending now amounts to 56 percent of GDP in France, more than double what it is in the United States. To pay for this profligacy, the government's 2013 budget proposes taxing top earners at a 75 percent rate and those earning more than 150,000 euros, or about $191,000 per year, at 45 percent. Other taxes also are going up (on dividend income and certain capital gains, for instance). All of which has pushed Frances wealth and jobs creators its business leaders to the point of desperation.
Some are even voting with their feet. Bernard Arnault, head of the luxury brand LVHM (Louis Vuitton-Moet Hennessy) and the countrys richest man, is seeking a Belgian passport. In response to critics, he claims hell continue to pay taxes in France, but its obvious that hell eventually move across the border. "
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"President Hollande thinks the solution to his countrys severe deficits, huge debt, loss of competitiveness and economic stagnation, is more tax revenue, more financial stimulus, and more government generally . you know the drill. But Frances fiscal problems, like our own, are a symptom of too much, not too little, government. "
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" The correct way to measure France is to compare it to Germany, not to Greece or Spain. In 2000, Frances exports amounted to 55 percent of Germanys exports. Today the figure is 40 percent.
The reason for this is not difficult to ascertain: The cost of government-mandated benefits a major complaint of the CEOs amounts to more than 50 euros for every 100 euros paid in salaries, almost twice as much as in Germany.
Frances decline mirrors that of Europe as a whole. Every decade since the 1970s the economic performance of the 27 countries that make up the European Union has deteriorated. In the 1970s, economic growth averaged 3.1 percent. In the 1980s the figure was 2.5 percent. In the 1990s it was 2.1 percent and in the last decade, 1.4 percent. "
Read more: France: Rebellion of the CEOs | Fox News
snippet:
" Nearly 100 French CEOs, among them the heads of Accor, the hotel chain, Air France, Carrefour, L´Oréal, Peugot, Siemens, SociétéGénerale and Veolia, the giant waste and water utility, are urging socialist President Francois Hollande to reduce government spending by 60 billion euros (about $76 billion) over the next five years, and reduce payroll taxes by 30 billion euros over the next two years. The cost of government, they say, has reached the limits of what is bearable.
.
.
" Government spending now amounts to 56 percent of GDP in France, more than double what it is in the United States. To pay for this profligacy, the government's 2013 budget proposes taxing top earners at a 75 percent rate and those earning more than 150,000 euros, or about $191,000 per year, at 45 percent. Other taxes also are going up (on dividend income and certain capital gains, for instance). All of which has pushed Frances wealth and jobs creators its business leaders to the point of desperation.
Some are even voting with their feet. Bernard Arnault, head of the luxury brand LVHM (Louis Vuitton-Moet Hennessy) and the countrys richest man, is seeking a Belgian passport. In response to critics, he claims hell continue to pay taxes in France, but its obvious that hell eventually move across the border. "
.
.
"President Hollande thinks the solution to his countrys severe deficits, huge debt, loss of competitiveness and economic stagnation, is more tax revenue, more financial stimulus, and more government generally . you know the drill. But Frances fiscal problems, like our own, are a symptom of too much, not too little, government. "
.
.
" The correct way to measure France is to compare it to Germany, not to Greece or Spain. In 2000, Frances exports amounted to 55 percent of Germanys exports. Today the figure is 40 percent.
The reason for this is not difficult to ascertain: The cost of government-mandated benefits a major complaint of the CEOs amounts to more than 50 euros for every 100 euros paid in salaries, almost twice as much as in Germany.
Frances decline mirrors that of Europe as a whole. Every decade since the 1970s the economic performance of the 27 countries that make up the European Union has deteriorated. In the 1970s, economic growth averaged 3.1 percent. In the 1980s the figure was 2.5 percent. In the 1990s it was 2.1 percent and in the last decade, 1.4 percent. "
Read more: France: Rebellion of the CEOs | Fox News