This is the red-hot blog, resuming the successful try of "http://ecokimon.blogspot.com".
It was created in the worst phase of my country's economics, hoping to bring nothing but long-awaited auspicious news in the foreseeable future for both my country and the spread of the science of economics!
Saturday, December 29, 2012
EconMan on Hollande's 75% tax
proposal to tax those earning more than €1m at 75% has divided
public opinion and led some to leave France
French constitutional council has rejected a government proposal to
levy a 75% tax on high earners.
tax on incomes over €1m has divided opinion in France and
encouraged some to set up homes outside France.
actor Gérard Depardieu bought a house in Belgium, prompting the
French prime minister, Jean Marc Ayrault, to say: "It's pathetic
really. Paying taxes is an act of patriotism and we're asking the
rich to make a special effort here for the country." In
response Depardieu offered to give up his passport.
government will redraft the tax proposal and resubmit it, Ayrault's
office said on Saturday. The council's ruling would not obstruct the
government's determination to reduce the public deficit, it added.
high tax rate was the centre piece of President François Hollande's
election campaign earlier this year but it has infuriated France's
high earners, many of who have already moved to cities such as
constitutional council is a politically independent body that rules
on whether laws, elections and referendums are constitutional. It is
made up of nine judges and three former presidents, and is concerned
the tax would hit a married couple where one partner earned above €1m
but it would not affect a couple where each earned just under €1m.
comments to Depardieu prompted him to write an open letter to the
prime minister: "I am leaving because you consider success,
creativity and talent grounds for sanction," he wrote.
said he had paid more than €170m in taxes over the last four
decades. He said he no longer recognised his country and offered to
surrender his passport if he was, indeed, so pathetic.
this month, Edouard Leclerc, the founder of one of France's biggest
supermarkets, said that the government's attitude to the rich
recalled the rhetoric of the French Revolution.
you like Depardieu or not is not the point," he said. "It's
this government's fiscal campaign against those who make money in
this country. Maybe it's not 1789, but there will be plenty of rich
leaving France. And there is a frightening populism on the rise."
says that Hollande made this move knowing it's gonna fail. He
proposed such a tax so that he could have an argument in a future
conversation. This means that if some time someone accuses him of not
doing enough to save france, he will be able to say "I wanted to
tax the rich but I was not let" and as intention matters more
than results in most people's eyes and he should now focus more on
eliminating France's chances of becoming the next target of
speculators by helping his own banks. THE I HAVE BEEN DOTTED AND ECONMAN DID HIS DUTY. TA LEME.