Posted on 12/29/2012 11:42:50 AM PST by Olog-hai
French president François Hollande suffered a damaging setback yesterday when France’s highest court ruled his proposed 75% “supertax” rate unconstitutional.
The measure, which is blamed for an exodus of wealthy French abroad, was a pillar of the Socialist leader’s successful Spring election campaign. But in an unexpected blow, France’s Constitutional Council ruled that the tax band did not guarantee equality for taxpayers because two households with the same total revenue could end up with different tax bills.
Although the tax would have hit only around 1,500 people, it was seen as the totem in Hollande’s political manifesto, which said it was justifiable in a time of economic crisis. Hollande, who once publicly declared “I don’t like the rich”, had called for economic “patriotism” from France’s wealthiest citizens. …
(Excerpt) Read more at telegraph.co.uk ...
For the first time in his life Karl Marx would be proud of Monsieur Hollande.
There’s no room in Western leadership for Marxist scumbags.
“75% is excessive, but 74% is okay.”
Hoodah thunkit!
france is hosed, anyway. sooner or later, the entire thing will collapse. any “constitution” that allows a tax, but prohibits a particular tax rate, is no constitution at all.
the french electorate voted to commit suicide. they should be allowed to finish their work.
Thanks Olog-hai.
Yeah, diss France (predictably, YAWN!) while never admitting that no tax in this paradise of ours can ever or will ever be declared unconstitutional.
In the US otherwise unconstitutional acts can become constitutional if they are camouflaged as a mere "tax".
Damn! Beat me to it. Lol!
Someone hand Obama a hanky.
Hollande will simply "fix" the problem by making sure those households pay the same exhorbitant tax bill.
Sorry about that!
[Text is now taxed at 74.99% rate!]
Yes,
and the French SC could grant summary judgement to
an appeal of this law etc etc until it’s LOW ENOUGH.
This, however might take some time. EH?
Thanks for the laugh. I needed that. Happy New Year.
MCB
Welcome!
Happy New Year, ‘see’ you next year unless taxes, the grim reaper, my coffee, or the Abominable Snowman gets us all beforehand.
[Those HIDEOUS Yeti!!]
/ end bad joke.
I’m putting my $ on the Yeti. Bummels bounce. No problem with the Physical Cliff. At least that’s how I hear it with the idiot C-SPAN callers. Lol.
The problem is not all families with the same income, would be paying the same taxes.
I don’t know much about the French tax system — but, it sounds like they don’t allow income splitting. (Neither does Canada — yet.) Without income splitting, households where one spouse earns a lot more than the other, pay much more taxes than a household with the same total income, and two (more or less) equal incomes for tax purposes.
The winner is: Yeti!
Worst part is, I can hear Howard Cosell sayng that in his distinctive way.
Lol. Were showing our age. Down goes Yeti!! Down goes Yeti!!
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