*** FRENCH POLITICS AND CULTURE PING LIST ***
*** FREEPMAIL ME IF YOU WANT TO JOIN ***
H/T EDINVA and Sunken Civ
Arnault is the CEO of LVMH, the acronym for the French luxury goods conglomerate Louis Vuitton Moêt Hennessey. Luxury goods like champagne, perfume, fashion, are a very large sector of France’s export economy. Arnault has done a magnificent job of promoting French priducts, and minting their world renowned high quality.
For this, the socialist government wants to repay him with a kick in the derrière and a 75% tax on the fruits if his labor.
Monsieur Arnault now has a portfolio of more than 60 French luxury brands, including
• Moêt champagne
• Hennessey cognac
• Louis Vuitton
fashion & leather goods
• Dior Parfum
• Tag Heuer
watches
• Château d’Yquem
wine producer
He cannot take his businesses with him, but this is a big statement and a warning that the highly productive members of French society are not going to surrender to the State.
The next move on the part of M.Arnault would be to scale back his businesses. This means laying off employees and reducing output, which would serve to ratchet up prices on already expensive luxury goods but would, in essence, cut the tax revenue.
When asked, “Comment peut-on dire << ketchup>> en français?”
M. Arnault replied, “On ne dit pas ça en français.”