A Socialist Now Runs France -- A Closer Look At The President-Elect François Hollande

Soak the rich eh?? Prepare for the backlash

Wealthy French people are looking to London as a refuge from fresh taxes on high earners pledged by candidates in the country’s presidential elections.

The “soak the rich” rhetoric that has punctuated the presidential campaign has prompted a sharp rise in the numbers weighing a move across the Channel, according to London-based wealth managers, lawyers and property agents specialising in French clients.

A 75% tax rate ... Any plans on cutting back govt. funded welfare and entitlement programs??

London’s status as an international finance hub as well as its proximity to France make it a natural choice for French professionals rattled by the campaign’s hostile mood towards the wealthy. Enclaves of French expatriates are firmly established in areas such as Belgravia and South Kensington, close to the Lycée Français Charles de Gaulle, a popular secondary school.

The departure of France’s business people, entrepreneurs and the young for opportunities overseas is not a new phenomenon. When Nicolas Sarkozy visited London in 2007 he called for its French residents to return to a reformed France under his presidency. But the trend has been accelerated by the growing possibility of a Socialist victory in Sunday’s decisive second round of the presidential election.

Now What??

www.ft.com...

This might actually hurt American Interests.................... And Obama's reelection.

Even on economic policy, where Hollande's policies are what Obama wanted, it's not all good news. The new French leader has promised to renegotiate Europe's fiscal pact. "Not possible," the austerity-loving German government of Angela Merkel warned on Monday. There's one thing the Obama administration likes even less than austerity -- and that's the prospect of a renewed financial crisis.

Why Obama isn't cheering for France's new socialist president

reply to post by tothetenthpower


As a person who has studied the history of France, let me say that their Socialist Party is not a new thing. With that said, I believe former Socialist Presidents such as Francois Mitterand (en.wikipedia.org...) have helped build up their health care and welfare systems while contributing to the greater quality of life in France.

Ultimately, I believe the "Socialism" present in France is of a different "flavour" than say Soviet-era Socialism.

reply to post by MysteriousHusky


That's a good point and it probably is a very different flavor. We see that in the West today as I mentioned earlier with people calling American leaders socialist, while there is nothing socialist about them really.

~tenth

Has anyone noticed how much this dude looks like Peter Sellers.

People of France, sleep well tonight.

Inspector Clouseau is in charge of your country.

Within the Socialist Party he's viewed as a consensus seeking moderate - much like Obama is by a lot of the Democratic base (although he still places much further to the left than Mr. Obama). I doubt he'll be able to get a lot of his program through, at least without significant cutbacks elsewhere in the budget. Most rich people will likely move abroad or just hide their income, so relying on them to finance his government is quite unlikely to work.

I am pleased by what seems to be a rejection of austerity, however. Whilst austerity would seem to make sense (there's a debt crisis, don't you know!) it also stifles growth. Implementing it maybe a year or so down the line once the Eurozone starts to have some real, solid growth again, and more graudally that at present will have more positive effects for the economy I feel.

Something I am finding interesting as I discuss this with other North American peoples is that for a lot of them they find this election of a Socialist somewhat daring... some people cheering it as a "waking up" from Capitalism (that the US should follow suit). What they don't seem to be aware of is that they've been doing socialism for a long time- culturally the values have been socialist since the revolution, and the socialists have held the presidency not that long ago. The election of Sarcozy was interesting because it showed a possible change in the french culture happening- an awakening of a different sort.

So I see this is as a flee backwards into same ole, same ole.... not a daring move to try out something different.

Funny how socialists always mention how much the rich make but hardly ever how much they gave to society.

Originally posted by tothetenthpower
Right, but I call him center Right

The list in the link explains why he cant possibly be center-right. It lists dozens of things a center-right would never do. You calling him center-right does not make it so.

A European economy built on a house of cards. To much credit, for an easy fix just and some zero and you have more money backed by nothing. Currency becomes worthless each passing day. The cost is passed to the little people at the bottom in the form of inflation thanks to artificially created money. As it begins to collapse, the people at the bottom will reach out for relief in any form. Greece brings Nazis into parliament and France the socialist. They get the vote because the elected officials claim they will take the money from the rich. The wealthy are the job creators and the government is the leaches. It is sad how the average person is duped into believing exactly what the government wants them to believe. I am sorry that I have come to the realization the exact same thing is happening in the United States. I am afraid of what will happen in the next decade.