Indecent Wealth and Francois the new French leader

Yes, you're right, but France is the country who have the more important tax etc, for the rich people...

And, they can always go in Swiss... In this country, there isn't a lot of tax for them... There is a lot of rich people who go in Swiss for that!...

 

Hollande will become France’s first Socialist president in 17 years as a majority of voters embraced his calls for a greater emphasis on economic growth and targeted social spending to counteract the austerity measures implemented to help shrink France’s excessive debt. President Hollande is expected to take anti-EU stance which is popular in France and some analysts worry that his socialist economic policies would wreak havoc with the French economy and stall the EU's further integration necessary to fix the eurozone economy. Hollande also pledged to withdraw French troops from Afghanistan by the end of this year, which would affect the Obama administration's Afghan policy.

 

I could scarcely believe that figure when I first saw it on the news some time ago. I mean that is a level of state enforced extortion that makes the likes of the Camorra and Cosa Nostra look like philanthropists. Does Hollande seriously believe that people who are taxed that much will stay in France?

Well, look on the bright side. At least we can make some money shorting the Euro.

 

Expected by whom? You?

 

This is going to be fascinating. I wonder if Merkel is eyeing off the Maginot Line and Hollande checking out the Siegfried Line.

 

My thinking is....that government will crow about putting on the 75% tax for the benefit of all the rich-hating masses but then will have a multitude of tax shelters available to keep the rich there. So no penny gained.

 

Bang on! The rich do not recycle their wealth around economies.

 

Looks like he is going for a change to the benefit of all but the few! History shows higher taxation does not harm the economy but does help jobs and equality. Bring it on.

Read more: http://www.businessinsider.com/history-of-tax-rates-2012-5#ixzz1uAPqsGFV

 

Tax and spend philosophy does not create wealth, does it? It's the creation of jobs and business that we need right now and that comes from Mr. 75% as the only other option is to inflate away the debt. Then again you can argue that austerity strangles growth as well. That is the situation we find ourselves in - (*)(*)(*)(*)ed if we do, (*)(*)(*)(*)ed if we don't.

Note: Why has the forum blanked out the word da-mn-ed?

 

So how do you explain away Apple and it's 10Bn USD in spare cash? Where's the created jobs? Oh yeah, China.

 

They're hoarding. Look at the bailout. We bailed and bailed on the understanding they would continue to lend and prevent the economy from going belly up. They took the bailout and stopped lending to the business which really needs it.

 

That's what happened in UK. He raised the tax on the rich but they didn't pay. Apparently they are so rich, they can manipulate their own income and they avoided taking income for the entire time the tax would apply. Now the Govt has reduced the tax level again, they will be raking it in.

 

Another champagne socialist. Just what Europe needs. lol

 

Yeah, Europe needs more austerity. We are seeing how good is going the austerity in Greece or Spain. Oh wait... It is making poorer Europe.

While countries with less austerity and more "socialdemocracy" like Sweden or Finland are bordering the crisis. Yes, I think that Europe needs to follow the right receipts.

 

...I hear Greece is going to exit the Euro. If they can sort out their Government, they might lead the way and start a domino effect. And UK is starting to talk about diversifying its trading base, going back to trading more with the Commonwealth and non-EU countries.

It seems a bit mad, if Greece have already paid off half of their enormous debt then why not carry on and finish the job, but if half the youth are unemployed and the people want out, the new Government might represent them instead of representing the rich/EU.

 

Yes, I don't understand how people can believe in Hollande's clues... Like Sarkozy said, Hollande want less rich, and Sarkozy want less poor...
The 75% is stupid, I don't know who will stay in France with some taxes like that... You must be stupid for stay here with that!... And every the talented people who want be rich will leave the country to... A good government musn't prevent success.

But, I hop there is some clever people in the government who will say the him that his clue is really so stupid...

 

The idea that anyone should have to pay anything like close to 50% of their income in tax is totally immoral imo, no matter how much they earn.

 

The idea that one person gives a full days work and does not have a enough money to have a roof over their head as is the case with some in Britain and another earns enough to feed the whole of Britain for the same day's work is immoral imo

 

Hollande to reduce top pay of those employed by the State to not more than 20 times that of the lowest worker.

http://www.guardian.co.uk/world/2012/may/30/hollande-france-clamp-down-fat-cat-pay

Now I am sure many will think this is insane. However in philosophy he has hit the nail on the head - except it clearly needs to hit the private sector as well. In the last 30 years we have seen the rate of managers pay to workers pay rise to over 100 times from around 8 times in the 1970's. If Western Nations wish to continue being democracies which offer social mobility and equality of opportunity this is something which needs to be addressed. If not, eventually revolution or a totalitarian state to stop such revolution.

 

No one has to do this! Do you understand how tax codes work?

 

I'll be interested to see how this pans out. Obviously he runs the risk of these people moving to the private sector, but I like the philosophy of it.

 

I haven't read Alexa's article yet on what Hollande is doing, but perhaps he agrees with you in principle...and has cut their income...hahaha...to no more than 20 times the lowest paid worker, in order to avoid taxing them. Brilliant. Hopefully he'll still tax them at 75%, but if they're below that threshold now maybe not.

I was reading about a trade dispute between Andrew Carnegie's staff and one of his managers or partners. The dispute was said to have arisen while he was away and revolved round staff wanting their pay to rise in line with company profits. This did not seem to be a radical expectation at that time.

Has anyone ever known a company to adhere to this principle...how far capitalism has fallen.

Someone write to Hollande and suggest it No I don't mean performance related pay. The greedy feckers at the top are paid when they fail and even take huge bonus payments regardless. The people at the bottom should be pay linked to profit exactly as they are. Everyone in every company should. It should be the law...(rant commencing)