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Business Fleeing France as 75% Income Tax Looms
Newsmax ^ | 07 Oct 2012

Posted on 10/07/2012 5:36:46 PM PDT by Snuph

A flood of top-end properties are hitting the market as businessmen seek to leave France before stiff tax hikes hit, real estate agents and financial advisors say.

"It's nearly a general panic. Some 400 to 500 residences worth more than one million euros ($1.3 million) have come onto the Paris market," said managers at Daniel Feau, a real-estate broker that specialises in high-end property.

Read more on Newsmax.com: Business Fleeing France as 75% Income Tax Looms Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!

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


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: economy; france; taxes
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To: Pearls Before Swine

The DNC has proposed a wealth tax every year since 1994. It never gets out of committee. 15% of your retirement account (any type).


21 posted on 10/07/2012 6:35:34 PM PDT by Snuph ("give me Liberty...")
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To: Snuph
The DNC has proposed a wealth tax every year since 1994. It never gets out of committee. 15% of your retirement account (any type).

That would have to be 15% of the income attributed to the account. 15% tax on the account would confiscate it in roughly 7 years.

Of course, that would go back on the whole promise/premise of IRAs, SEPs, and Roth accounts. A slightly lower tax rate wouldn't be enough to induce me to fence off my money for several decades.

22 posted on 10/07/2012 6:39:44 PM PDT by Pearls Before Swine
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To: Pearls Before Swine

um no, a one time 15% of the balance tax. but it would only be one time pinkie promise...


23 posted on 10/07/2012 6:43:51 PM PDT by Snuph ("give me Liberty...")
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24 posted on 10/07/2012 6:46:03 PM PDT by Baynative
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To: Snuph

The communists had it all figured out. If you are going to confiscate wealth, you have to pass a law making it illegal to leave the country, or send money out of the country. Without that nice little touch, it can get tricky to take everyone’s money.


25 posted on 10/07/2012 7:35:00 PM PDT by Avid Coug
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To: Avid Coug

You do know there is an “exit” tax here in the USA right? Passed in the Clinton years. I have not seen any news articles of it having been enforced though.


26 posted on 10/07/2012 7:59:19 PM PDT by Snuph ("give me Liberty...")
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To: Snuph

Wonder if all the Hollywood types (like Johnny Depp) will be leaving?


27 posted on 10/07/2012 8:16:15 PM PDT by ncpatriot
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To: Snuph
This is a land grab scam perpetrated by government officials to obtain incredible and limited properties at ridiculously reduced prices. I'm sure of it!
28 posted on 10/07/2012 10:31:46 PM PDT by Casie
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To: bert

Dubai is really built on shifting sand. Once the oil revenues and property bubble fades...


29 posted on 10/08/2012 2:23:59 AM PDT by Cronos (**Marriage is about commitment, cohabitation is about convenience.**)
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To: berdie

Income tax in Singapore ranges from 0% to 20%. also tax is only paid on money earned outside Singapore and brought into Singapore.


30 posted on 10/08/2012 2:25:41 AM PDT by Cronos (**Marriage is about commitment, cohabitation is about convenience.**)
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To: ncpatriot

Depp has already moved out...


31 posted on 10/08/2012 2:26:50 AM PDT by Cronos (**Marriage is about commitment, cohabitation is about convenience.**)
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To: Snuph

I believe that was signed into law by George “the compassionate conservative” Bush in ‘08.


32 posted on 10/08/2012 2:47:03 AM PDT by Nickname
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To: ncpatriot

Johnny Depp announced 2 weeks ago he was leaving because of the 75% tax.


33 posted on 10/08/2012 3:33:18 AM PDT by Snuph ("give me Liberty...")
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To: Nickname

You would be incorrect. It was passed by the Newt and his gang after he took Congress and signed by Clinton.


34 posted on 10/08/2012 3:36:48 AM PDT by Snuph ("give me Liberty...")
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To: Snuph

Now they’re gonna have to raise it to 85% to make up for the lost businesses....


35 posted on 10/08/2012 3:59:40 AM PDT by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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To: Snuph

They came back for more then. The one that was signed in ‘08 by Bush was called the HEART Act.

http://www.forbes.com/sites/robclarfeld/2012/07/02/are-you-considering-relinquishing-your-us-citizenship-like-fbs-eduardo-saverin/


36 posted on 10/08/2012 4:11:31 AM PDT by Nickname
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To: Snuph
um no, a one time 15% of the balance tax.

No wonder they call them the DNC.

37 posted on 10/08/2012 5:03:25 AM PDT by Pearls Before Swine
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To: Nickname

Yes the HEART ACT was for Ex Pats and non citizens. The bill passed by Newt and Clinton does not cover them. The HEART ACT is also much less than the one for normal US citizens.


38 posted on 10/08/2012 5:59:29 AM PDT by Snuph ("give me Liberty...")
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To: Cronos

Actually, Dubai is a major center of both finance and trade and is the gateway to the east. Antwerp is suffering from business moved there,

Dubai is also a major distribution center with free trade zones housing both massive ware houses and manufacturing. There is both a world class port and air freight center.

The reliance on oil is rapidly being superseded by massive trade.


39 posted on 10/08/2012 7:25:28 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: bert

true. it looks that way, but Dubai’s foundations are very shaky, based on a property bubble and threatened by the rise of Bombay as an alternative as well as the attempts by Qatar and Abu Dhabi to take the business away.


40 posted on 10/08/2012 8:14:37 AM PDT by Cronos (**Marriage is about commitment, cohabitation is about convenience.**)
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