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French 75 pct tax rate would last years -Hollande aide
Reuters ^ | 04/10/12

Posted on 04/13/2012 5:47:17 PM PDT by TigerLikesRooster

French 75 pct tax rate would last years -Hollande aide

PARIS, April 10 | Tue Apr 10, 2012 11:26am EDT

(Reuters) - The 75 percent tax rate that French presidential frontrunner Francois Hollande wants to slap on income over 1 million euros will be kept in place for many years, in line with the broader debt reduction effort, a top adviser to the Socialist candidate said on Tuesday.

In an interview with Reuters, Hollande adviser Michel Sapin said the 75 percent rate was more a symbolic measure than a big moneyspinner for the state but should stay in place for as long as the rest of Hollande's national debt-reduction effort.

Slashing the public debt from some 89 percent of gross domestic product to the desired level of 60 percent would take "many years", said Sapin, an ex-finance minister who is in charge of Hollande's election manifesto.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: 75percent; buffettrule; economy; france; incometax; taxes
LOL. Rich French celebrities will flee to New York and exclaim that taxes are so low in NY. This will rekindle the familiar liberal mantura: American taxes are too low.
1 posted on 04/13/2012 5:47:24 PM PDT by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
French tax refugees will restart liberal’s tax offensive in U.S..
2 posted on 04/13/2012 5:49:16 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster

Typical idiot lefty, making symbolic taxes while the regular person suffers under socialism. The rich can afford a plane ticket out of there and the money goes a lot farther other places.


3 posted on 04/13/2012 5:50:10 PM PDT by JMS
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To: TigerLikesRooster
http://pate.blogs.france24.com/article/2012/04/09/french-celebs-threaten-flee-country-if-tax-happy-hollande-wins-0

French celeb threatens to flee country if Hollande wins

“If Hollande wins the election, I'm leaving the country.” That’s what one tantruming French celebrity is threatening after Socialist candidate François Hollande suggested taxing millionaires 75% of their salaries earlier in his campaign.

Sixties icon Françoise Hardy (pictured right) told weekly magazine Le Point on Friday that if the Socialist candidate were to go ahead with his 75% tax on millionaires, she would be “living on the street”. Earning just 150,000 euros a year, she told the sympathetic (er, conservative) magazine that she wouldn’t be able to afford to pay her taxes… “I’ll have to sell my apartment. I’ll be on the street.” But before you send her an old tent and some tin foil, don’t panic – she’s come up with an excellent alternative. “I could see myself living in London or New York,” she muses. And by that, she means living in an apartment.

She's not the only celebrity to voice her disapproval over the idea, although others have been less melodramatic. A few days before Hardy’s desperate homeless appeal, French former heartthrob Patrick Bruel (centre right) gave a more convincing argument as to why 75% was a little over the top. “I’m more than happy to give back a large part of what I earn [to society],” he told French radio RTL. “But at 75%, a tax becomes more of a confiscation.” He then went on to dispel a controversial French myth: “It’s not dishonest to earn a fortune. Especially when we redistribute half of that fortune already.”

Even celebrities who support Hollande have chided him for his ambitious plan. Comedian Jamel Debbouze (bottom right), who gladly supports Hollande publicly, described the tax as “ridiculous” in magazine Les Inrockuptibles last week.

If the Robin-Hood-hopeful was planning to distance himself from his... ambitious idea, it’s too late now. It's already been dubbed… “La Taxe Hollande”.

4 posted on 04/13/2012 5:51:08 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster

Espoir et Le Changement


5 posted on 04/13/2012 5:58:58 PM PDT by 1010RD (First, Do No Harm)
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To: TigerLikesRooster

After Noveber America will welcome them and their cash.


6 posted on 04/13/2012 6:00:57 PM PDT by 1010RD (First, Do No Harm)
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To: 1010RD

Unless our “flexible” President Gumby ups the ante to 80.


7 posted on 04/13/2012 6:11:24 PM PDT by Mygirlsmom ("Your money or your life" has been the Dems unwritten motto for a long time)
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To: TigerLikesRooster

Oui, nous pouvons!


8 posted on 04/13/2012 6:12:59 PM PDT by outofsalt ("If History teaches us anything it's that history rarely teaches us anything")
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To: TigerLikesRooster

Didn’t the US get the best of British talent when they fled 70% taxes?

“I’m the Taxman....”


9 posted on 04/13/2012 6:20:47 PM PDT by hoosierham (Freedom isn't free)
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To: outofsalt

Monaco anybody?


10 posted on 04/13/2012 6:23:09 PM PDT by JCBreckenridge
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To: TigerLikesRooster

Since Ms Hardy’s annual 150,000 Euros is to be taxed at 75%, I assume the tax is 75% on everyone with a net worth of one million? Talk about redistribution of wealth!


11 posted on 04/13/2012 6:24:18 PM PDT by JimSEA
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To: Mygirlsmom

That is why the lefties are proposing the global minimum tax. I am tired of the f@%ks thinking that we are owned like cattle.


12 posted on 04/13/2012 6:24:25 PM PDT by WMarshal (Bitter Clinger)
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To: Mygirlsmom

I hope that no one from Cook County occupies the Oval Office in 2013.


13 posted on 04/13/2012 6:31:13 PM PDT by 1010RD (First, Do No Harm)
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To: 1010RD

“After Noveber America will welcome them and their cash.”

No, I think people are missing what’s really going on here. The published rate will be 75 percent, but the effective rate will be much lower as the socialists... quietly... create shelters and loopholes, in return for public statements of support for socialist policies. They won’t REALLY be paying 75 percent. The real aim here is to be able to raise taxes on the French middle class without them complaining. “See, the rich have to pay MUCH more. You only have to pay a little more”. The middle class... not the rich... is where the money is. This is all just a ruse to make the castor oil go down easier, giving the French middles class the illusion that the rich are being soaked so they won’t complain as much when their own tax bill gets bigger.


14 posted on 04/13/2012 6:56:02 PM PDT by DesScorp
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To: TigerLikesRooster
movies Pictures, Images and Photos

It'll be like the 70's but instead of the Rolling Stones being tax refugees, it'll be mimes.

15 posted on 04/13/2012 7:03:53 PM PDT by Snickering Hound
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To: TigerLikesRooster

This could trigger a euro depression. France is the #2 EU country and it’s too big for Deutchland to carry. It’s harder to hide money now,you can’t buy gold with cash. Nasty times.


16 posted on 04/13/2012 7:37:38 PM PDT by grumpygresh (Democrats delenda est; zero sera dans l'enfer bientot.)
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To: DesScorp

You are absolutely correct. That’s the way they do it in Cook County. There’s an entire cadre of politically connected insiders who work the system while the rest of the population pays. Why the GOP cannot undo this and win elections is baffling.


17 posted on 04/13/2012 7:41:43 PM PDT by 1010RD (First, Do No Harm)
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To: TigerLikesRooster

Their revenue will drop like a rock. Not that they care, it’s all about “fairness”.


18 posted on 04/13/2012 7:59:23 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: 1010RD

Because the people are too stupid. Seriously.


19 posted on 04/13/2012 8:20:55 PM PDT by Clock King (Ellisworth Toohey was right: My head's gonna explode.)
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To: TigerLikesRooster

I agree with the article but all the high earners will be living in Monte Carlo where they have no tax. Hey Dumbo, check it out.


20 posted on 04/13/2012 9:14:24 PM PDT by Rembrandt (.. AND the donkey you rode in on.)
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To: TigerLikesRooster

“In an interview with Reuters, Hollande adviser Michel Sapin said the 75 percent rate was more a symbolic measure than a big moneyspinner for the state...”

There you are, HONESTY. It’s a political stunt and he even admits it. I’m starting to like this Hollendaise guy.


21 posted on 04/14/2012 4:52:21 AM PDT by BobL
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