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The call to Vincent Grandil’s Paris law firm began like many others that have rolled in recently. On the line was the well-paid chief executive of one of France’s most profitable companies, and he was feeling nervous. President François Hollande is vowing to impose a 75 percent tax on the portion of anyone’s income above a million euros ($1.24 million) a year. “Should I be preparing to leave the country?” the executive asked Mr. Grandil.
As the "occupiers" and others like to point out, the "rich" are only 1% of the population(actually less than 1% are the really rich). We could take every single penny they have and it would not be nearly enough.
...there are relatively few people in France whose income would incur such a tax — an estimated 7,000 to 30,000 in a country of 65 million — the gains might contribute but a small fraction of the 33 billion euros in new revenue the government wants to raise next year to help balance the budget.
the tax could have enormous symbolic value as a blow for egalité, coming from a new president who has proclaimed, “I don’t like the rich.”
That is beginning to be the case here as well. Bammy has really worked hard to drum up a hatred for those who have succeeded here.
“French people have an uncomfortable relationship with money,” Mr. Grandil said. “Here, someone who is a self-made man, creating jobs and ending up as a millionaire, is viewed with suspicion. This is big cultural difference between France and the United States.”
This is what the sheeple cannot seem to get through their thick skulls. People will only pay "so much" of their hard earned money, then they will just move. The rich are more mobile than the rest of us. Money gives them the freedom to relocate to more friendly environs. If they all continue to leave, so will the remaining jobs. We need to stop punishing work, productivity, and success. We need to punish consumption. The "fair tax" is the way to go. Income taxes are a failure. Either way, we must cut spending. Just cutting military spending won't help. Look at the "PIIGS", they don't spend much on their military yet they are still going broke. The common denominator is....
Many companies are studying contingency plans to move high-paid executives outside of France, according to consultants, lawyers, accountants and real estate agents — who are highly protective of their clients and decline to identify them by name. They say some executives and wealthy people have already packed up for destinations like Britain, Belgium, Switzerland and the United States, taking their taxable income with them.
They also know of companies — start-ups and multinationals alike — that are delaying plans to invest in France or to move employees or new hires here.
Taxes are high in France for a reason: they pay for one of Europe’s most generous social welfare systems and a large government. As Mr. Hollande has described it, the tax plan is about “justice,” and “sending out a signal, a message of social cohesion.”
Coming Soon To The USA