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| Europe |
| French election 2012: Francois Hollande announces 75 per cent tax plan |
| 2012-02-28 |
| When will they ever learn? The Socialist front-runner in the race to become France's next president has announced plans to introduce a 75 per cent tax rate on millionaires. |
| Posted by:tipper |
| #3 The problem is they won't be taxing millionaires, ie taxing wealth, they will be taxing high income earners. Taxing wealth is a good idea from an economic perspective but notoriously difficult to do in practice. Taxing very high income earners is nuts, because whatever they do is economically very valuable, and they will either do less of it or go somewhere else to do it. |
| Posted by: Phil_B 2012-02-28 19:28 |
| #2 France avoided having a credit/housing bubble as it had a higher percentage of taxation than surrounding countries in the immovable, i.e. Land/Property. Which is why despite it's horrendous level of state meddling in the economy it's not as fubared as expected. I expect Hollande will take France Full Retard. |
| Posted by: Bright Pebbles 2012-02-28 18:38 |
| #1 Capital flight will be the next thing they will talk about. Remember, taxing those rich enough to pay to have their wealth moved to another country is like a Monkey trying to have sex with a football. Looks like something is happening and is amusing to watch, but in reality nothing gets accomplished. |
| Posted by: DarthVader 2012-02-28 13:32 |