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The Pigeon Movement A rallying cry for French startups
The Rude Baguette ^ | 01 October 2012 | LiamBoogar

Posted on 12/02/2012 7:24:31 PM PST by Lorianne

60% Capital Gains tax – the real innovation killer

Forget taxing the wealthy, forget big government, the French government is eliminating the one tangible reward for building new companies, creating innovation, and providing the French government with a few hundred new employees. This come at a time where France’s big companies are beginning to show their anti-global competitiveness roots - Peugeot is laying off thousands, Bouygues is laying off thousands, and this is just the beginning. For the record, the current Capital Gains tax is set at 32.5%, an 84.6% tax hike.

The Pigeon Movement – France’s Last Hope for Startups.

In the wake of all this built up tension & disappointment from the startup community, a group of entrepreneurs put together a group called “Les Pigeons.” The group grew to over 3,800 members during the weekend alone - a gathering is scheduled to be held Sunday October 7th at 3:00PM in front of the National Assembly, and French startupers across the web have been changing their profile pictures to the pigeon seen to the right in order to spread the word.

According to Ruben Nataf, CM for Whoozer and allegedly the CM for @DefensePigeons, the group was started by Bluekiwi(Acquired by Atos | 04/12 for €20M) & Kwarter founder Carlos Diaz (currently based in SF), along with Whoozer CEO Fabien Cohen.

In French, the term “pigeon” is used to call someone a sucker – and it seems fitting here. Hollande has gone back on his promise to lower taxes paid by SMEs so that they will be less than big companies after tax breaks.


TOPICS: Foreign Affairs; Government; Politics/Elections
KEYWORDS:

1 posted on 12/02/2012 7:24:35 PM PST by Lorianne
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To: Lorianne

Inspirational thread! Thanks! C’est TRES Bien!!!!!!!!!!!!!!!!!!!!!!!!!


2 posted on 12/02/2012 7:40:14 PM PST by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: Graewoulf

Could make the pigeon the national bird of France....might be appropriate.


3 posted on 12/02/2012 7:42:01 PM PST by RetiredTexasVet (The law of unintended consequences is an unforgiving and vindictive b!tch!)
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To: Lorianne
Les Pigeon:


4 posted on 12/02/2012 7:48:19 PM PST by null and void (Going Galt: The won't of the people)
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To: Lorianne

Import more Muslims. That will hike the demand for French cars (after they’re torched).


5 posted on 12/02/2012 7:50:27 PM PST by rbg81
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To: RetiredTexasVet

Since Pigeon in French means sucker, that means that the official bird of Communist Obamanation should be one that feasts on dead flesh. Any suggestions?


6 posted on 12/02/2012 7:53:21 PM PST by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: Graewoulf
that means that the official bird of Communist Obamanation should be one that feasts on dead flesh. Any suggestions?

One that rules by fiat?

One that feeds its young vomited up dead fish?


7 posted on 12/02/2012 8:00:13 PM PST by null and void (Going Galt: The won't of the people)
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To: null and void

Ich bin ein pigeon (amerikaner).


8 posted on 12/02/2012 8:14:10 PM PST by The_Media_never_lie (Actually, they lie when it suits them! The crooked MS media must be defeated any way it can be done!)
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To: null and void

Very good choice! The Green Movement headgear gives that imperial touch.

I was thinking more along the lines of a Turkey Vulture. They eat everything that is dead.

Any images of that one in your files?


9 posted on 12/02/2012 8:24:00 PM PST by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: null and void

Buzzards dine on carrion. Penguins, less so, and how can the mascot of Linux be so odious after all?


10 posted on 12/02/2012 8:36:26 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: Lorianne

The Kauffmann Foundation has a rule-of-thumb for venture capital. If you fund 10 startups, two or three are going to go poof and blow up along with your capital. Maybe five will be zombies, that is they will be alive and can pay their bills, but they won’t go anywhere. And about one or two will be home runs with a good exit. All this in between three and seven years.

Only after the home runs come in, do you get your capital gains from which **after taxes and fees** you have money with which to replenish your pool of capital.

In order for this all to work out and for venture capital to be “sustainable” (a concept the left loves to scold the rest of us about), there must be enough return to pay the bills and to replenish the pool. The higher the capital gains tax, the higher the rate of return must be for this all to work out. This means that the VC must be more and more selective, and the pool of deals that are worth the risk of funding grows smaller and smaller.

In other words, a 15% cap gains tax makes doing VC hard enough. A 60% cap gains tax all but kills venture capital.

The greedy socialists grasp at tax revenue and kill jobs and future business formation in the process. The clueless voter is left with his unemployment check, and even that runs out after a while. The VC finds ways of funding startups in jurisdictions with a sustainable tax rate. What is so hard to understand, except for people who are no friends of facts and truth, namely socialists.


11 posted on 12/02/2012 8:42:21 PM PST by theBuckwheat
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To: theBuckwheat

Good analysis. This reminds me of the math that drug companies do. Similarly, one successful drug must pay the bills of all the ones that didn’t make it to market, or didn’t do well once they got there.


12 posted on 12/02/2012 8:51:21 PM PST by winner3000
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To: theBuckwheat

Good analysis. This reminds me of the math that drug companies do. Similarly, one successful drug must pay the bills of all the ones that didn’t make it to market, or didn’t do well once they got there.


13 posted on 12/02/2012 8:51:37 PM PST by winner3000
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To: Lorianne
"Hollande has gone back on his promise"

Gasp! A Socialist - has done that? Quelle horreur. I am shocked.

14 posted on 12/02/2012 9:08:49 PM PST by I am Richard Brandon
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