The Pension Storm Is Coming To Europe -- It May Be The End Of Europe As We Know It
Posted on 10/12/2020 5:55:16 PM PDT by RomanSoldier19
France introduces a new carbon emission tax plan that will make buyers of gas-guzzlers like Porsche and Ferrari to reconsider their purchasing decision.
EU has set a target of reducing its carbon emissions from cars by 2030 and France, which already has the highest pollution tax, has decided to double it.
France is drafting a law that will force buyers of big luxury gas-guzzling cars to reconsider their purchasing decision.
Europe’s second-largest auto market is planning to double its levy of “malus”- or penalty tax based on the carbon emission of a car. It is set to go up to 50,000 Euro or $59,000 by 2022.
France already has the distinction of having the continent’s highest pollution taxes on passenger vehicles.
Almost all EU countries charge a pollution tax, but France’s is the highest with 20,000 euros. Belgium and Italy charge 2,500 euros.
(Excerpt) Read more at industryleadersmagazine.com ...
The Pension Storm Is Coming To Europe -- It May Be The End Of Europe As We Know It
France, which already has the highest pollution tax, has decided to double it...
That’s how countries boom economically :)
Why not make it a million Euros :)
Thinly-disguised “luxury tax” to punish “the rich.”
It never works out well.
Cue the haunted gilettes
Jauntes
more CREATIVE DESTRUCTION required in order to BUILD BACK BETTER!
3 Oct: The Economist: Editorial: Bidenomics: the good the bad and the unknown
Joe Biden should be more decisive and ambitious about America’s economy
When Mr Trump took power in 2017 he hoped to unleash the animal spirits of business by offering bosses a hotline to the Oval Office and slashing red tape and taxes. Before covid-19, bits of this plan were working, helped by loose policy at the Federal Reserve. Small-business confidence was near a 30-year high; stocks were on a tear and the wages of the poorest quartile of workers were growing by 4.7% a year, the fastest since 2008. Voters rank the economy as a priority and, were it not for the virus that record may have been enough to re-elect him...
Yet, partly owing to the pandemic, Mr Trump’s shortcomings have also become clear...
Mr Trump’s chaotic style, involving the public shaming of firms and attacks on the rule of law, is a tax on growth. Deregulation has turned into a careless bonfire of rules. The confrontation with China has yielded few concessions, while destabilising the global trading system...
As the 46th president, Mr Biden would alleviate some of these problems simply by being a competent administrator who believes in institutions, heeds advice and cares about outcomes...
Mr Biden’s economic priority would be to pass a huge “recovery” bill, worth perhaps $2trn-3trn, depending on whether a stimulus plan passes Congress before the election...He would ease tensions with China, soothing the markets...
The recovery bill would also aim to “BUILD BACK BETTER” by focusing on some long-term problems for America that have also been Biden priorities for many years. He is keen on a giant, climate-friendly infrastructure boom to correct decades of underinvestment...
He would raise taxes to pay for about half of the spending that is approved, with higher levies on firms and the rich. Even if all of his tax plan were enacted, which is highly unlikely, studies suggest corporate profits after tax might drop by up to 12% and the income of the top 1% of earners by up to 14%. If you are rich that would be an irritant, but not a catastrophe...
The real risk of Bidenomics is that his pragmatism will lead him to be insufficiently bold...For example, he rightly supports ladders for social mobility as well as a better safety-net for workers who lose their jobs; his plans range from more affordable housing to free public universities.
But equipped with these safety buffers, he should be willing to welcome more CREATIVE DESTRUCTION so as to raise long-run living standards...
Making trade alliances great again
Mr Biden’s climate policy represents real progress. Building green-power grids and charging networks makes sense because the private sector may hold back...
His plan to cut emissions involves targets, but shies away from a carbon tax which would harness the power of capital markets to reallocate resources. That is a missed opportunity. Just last month the Business Roundtable, representing corporate America, said it supported carbon pricing...
Mr Biden still has to win in November, so his ambiguity is understandable...
https://www.economist.com/leaders/2020/10/03/bidenomics-the-good-the-bad-and-the-unknown
Well, France is off the list.
Wait, France was never on the list.
And that’s on top of gasoline prices of about $6.00/gallon.
https://www.globalpetrolprices.com/France/gasoline_prices/
Either Macron needs an alibi (budget problems) to help extract himself from his mouth's having written checks his ass can't cash (eastern Med, Lebanon) or the French gubmint is riddled with traitors, or both .
More ways to fleece the populace by politicians.
France is gone.
I am going to fill up tomorrow and bring empty cans for fillup, and will be paying less than a dollar per gallon.
Just wait till they are covered up in used battery packs and trashed windmill vanes. How much to tax them?
O-Shackle-n-Chains scam again.
Where’s that?
If you have to ask how much the pollution tax is on a Porsche or Ferrari, you can’t afford one.
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