Skip to comments.French 75 pct tax rate would last years -Hollande aide
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 ...
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.
French celeb threatens to flee country if Hollande wins
If Hollande wins the election, I'm leaving the country. Thats 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 wouldnt be able to afford to pay her taxes Ill have to sell my apartment. Ill be on the street. But before you send her an old tent and some tin foil, dont panic shes 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 Hardys 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. Im 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: Its 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, its too late now. It's already been dubbed
La Taxe Hollande.
Espoir et Le Changement
After Noveber America will welcome them and their cash.
Unless our “flexible” President Gumby ups the ante to 80.
Oui, nous pouvons!
Didn’t the US get the best of British talent when they fled 70% taxes?
“I’m the Taxman....”
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!
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.
I hope that no one from Cook County occupies the Oval Office in 2013.
“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.
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.
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.
Their revenue will drop like a rock. Not that they care, it’s all about “fairness”.
Because the people are too stupid. Seriously.
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.