Posted on 01/08/2013 8:04:35 AM PST by SeekAndFind
By now you've probably heard Russian President Vladimir Putin has bestowed Russian citizenship upon Gérard Depardieu as part of the French actor's quest to seek refuge from his country's onerous income taxes.
It's a pretty funny situation.
But French President Francois Hollande is not laughing.
Because after all the fuss, the 75 percent marginal income tax that was the highlight of the new taxes which Depardieu and others were attempting to flee was ultimately vetoed by the country's Constitutional Council.
The ruling came on technical grounds, and the government has vowed to resubmit a similar proposal. But the project has now morphed into a "disaster" for Hollande, France's most important newspaper, Le Monde, says.
In a new editorial, Le Monde writes that Hollande's failure on the measure could serve as a "ball and chain" around the rest of his presidency.
Economically counter-productive, it unnerved business leaders — including those who would be far from the policy's tax bracket. Legally ill-conceived, it's been rejected by the Constitution Council, who didn't even need to judge it confiscatory (though this is illegal). And it would have had only a modest effect on the budget — $210 million Euros a month.
(Excerpt) Read more at businessinsider.com ...
If only he could come here and do the same for Obama . . .
Article points out perhaps the only good aspect of the French Constitution. Their version of the Supreme Court reviews legislation and rules on its constitutionality BEFORE it takes effect.
RE: If only he could come here and do the same for Obama . . .
Depardieu relinquished his French citizenship to escape the onerous 75% tax that Hollande signed into law (invalidated by the French Courts for now, but will return in another form ).
Here in the US, YOU CANNOT SIMPLY RELINQUISH CITIZENSHIP WITHOUT THE IRS AUDITING YOU AND DEMANDING THAT YOU PAY, ESPECIALLY IF YOU ARE AS RICH AND PROMINENT AS HE IS.
Remember this, unlike France, the US claims income that you have from ALL SOURCES, REGARDLESS OF WHERE YOU MADE THE MONEY.
Maybe if enough Hollywood celebutards renounce their citizenship...
RE: Maybe if enough Hollywood celebutards renounce their citizenship...
Why would they want to do that? Their “Lord and Savior” (According to Jaimie Foxx ) is the President.
Not entirely accurate, the Vast Majority of Profits to Hollywood come from OVERSEAS and the IRS does not Tax it at all because they keep it off shore in the Grand Caymans. Just like GE.
*************
It only takes one (or a few) courageous voice(s)
The Emperor Has No Clothes!!!
Thinking instead of feeling? How un-progressive of the frogs.
Vladimir Putin got a 13% flat income tax adopted and he’s watched state spending like a hawk.
Russians know from experience what its like to be broke. You want a good steward steering the ship of state in these uncertain times.
Francois Hollande has learned nothing from Russia’s economic turnaround since the collapse of Communism in the 1990s.
RE: Vast Majority of Profits to Hollywood come from OVERSEAS and the IRS does not Tax it at all because they keep it off shore in the Grand Caymans
I’m talking about INDIVIDUAL INCOME.
Say you are an immigrant from Hongkong. Before coming to the USA, you ALREADY own property in HK and rented them out. Now that you’ve come to the USA, you decide to start a business here. You do well.
By US Tax law, YOU WILL BE TAXED, not only on the income you make from your business here But also the income you make on the RENTALS in Hongkong, even when the USA had nothing to do with the rentals you own overseas.
I can’t think of any other country that does that.
I never thought I would see the day that the US and Russia were trading places.
I get a kick that this piece is worded that Depardieu may have ruined Hollande’s presidency.
No, Hollande has ruined Hollande’s presidency.
No, Francois Hollande ruined Francois Hollande’s “presidency”.
LOL! I was thinking the same thing.....Any here interested in putting together the funds? I’ll chip in a few bucks for a plane ticket...
Russia is forced to be friendly to the taxpayer, and to be fiscally frugal. Their population is aging, dying off and decreasing in numbers every year.
It’s all good, though. The Muslim population is sharply rising.
Since we don’t have that review system here, I’d support a law which subjects elected legislators to immediate termination for voting “yes” on any law subsequently judged to be unconstitutional by the Supreme Court.
You KNOW it’s bad in France when you have to move to Russia for less legal robbery from the government.
I am sure he thought about it but the way Obama is, hell, you’d think he was a French politician too.
Fair share == 75%. That’s our Obamacommie for ya. Hell, take it all.
OBAMA: Oh, all of the rich’s money hardly touched our expenses for the year? How could that be? Spending isn’t the problem. The rich must still have some money tucked away somewhere. Oh, we got it all already? Even the Swiss bank accounts and the Cayman Islands stuff? Well, but look, they aren’t buying things anymore, they aren’t doing their part to keep the economy moving - well yes, we did take ALL their money, but they still need to keep buying as much or more as they did before....
What do you mean they can’t just keep spending when they have no money left? IF I CAN DO IT, THEY CAN.
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