Business

French Prez Candidate Doubles Down on Proposed 75 Percent Income Tax on Wealthy: ‘Patriotic’

A recent poll shows Socialist presidential candidate Francois Holland closing in on French president Nicolas Sarkozy.

“A poll out today continues to give Francois Hollande the edge over Nicolas Sarkozy in round one of France’s presidential election, 31.5 percent to 27 percent, and a hearty lead in the runoff, 58 percent to 42 percent,” Newser reports.

This should probably concern some French voters. Well, the successful ones at least. Why?

“Should the Socialist frontrunner indeed win, here’s another percentage that will likely be thrown around a lot: 75 percent,” Newser reports, “That’s the income tax rate Hollande believes the biggest earners should pay, and will push for.”

Wait, how much? A 75 percent income tax rate? That’s what the man said.

“Taxation for the rich has become a hot campaign issue, with tax advisers in neighboring Switzerland saying that higher taxes for the wealthy in France could spark an exodus,” the BBC reports.

Indeed, considering that many of France’s richest celebrities already live abroad, if elected, Hollande may find out the hard way that such an enormous tax will likely drive out the few that remain.

French Presidential Candidate Doubles Down on Proposed 75 Percent Income Tax on Wealthy, Calls it PatrioticFrench Socialist Party candidate for the 2012 presidential elections Francois Hollande (AP Photo/David Vincent)

“Above €1 million [$1.3 million], the tax rate should be 75 percent because it’s not possible to have that level of income,” Hollande said, vowing to undo Sarkozy’s tax breaks and later calling the 75 percent rate a “patriotic act.”

“Patriotic”? Why does this sound vaguely familiar?

Apparently, even Hollande’s own campaign managers were surprised at the candidate’s proposal.

“You are asking me about a declaration which, for my part, I haven’t heard,” said the head of his campaign’s budgetary affairs when asked for a comment.

But this didn’t stop Hollande from doubling down on his “patriotic” 75 percent income tax proposal.French Presidential Candidate Doubles Down on Proposed 75 Percent Income Tax on Wealthy, Calls it Patriotic

“It’s a signal that has been sent, a message of social cohesion, there is an effort to be made,” he explained. “It is patriotic to agree to pay a supplementary tax to get the country back on its feet.”

Unsurprisingly, the Sarkzoy campaign has gone after Hollande for his proposal.

Francois Hollande “invents a new tax every week without ever proposing the smallest saving”, said Budget Minister Valerie Pecresse and Foreign Minister Alain Juppe denounced the plan as “fiscal confiscation,” the BBC reports.

Final thought: it should probably be pointed out that the Hollande is not alone when he says that higher taxes are “patriotic.” Who knows? He might even think the wealthy should bear a larger burden for the “privilege” of being French.

(H/T: WZ)

Comments (86)

1 2
  • Arshloch
    Posted on March 1, 2012 at 3:18pm

    If the French elect this troll to office they will return to the days of being ‘the land of the flake’.

    Report Post » Arshloch  
    • Ruler4You
      Posted on March 1, 2012 at 3:28pm

      Why does this sound “familiar?”

      Because communism “IS” the same no matter where you go. It steals from YOU for its own sustenance. And OUR government “IS” close on the heels of France. Hence, the smell.

      Something EVERY man or woman would pay for with state sponsored imprisonment for an arbitrary duration.

      Report Post » Ruler4You  
    • lovenfl3
      Posted on March 1, 2012 at 3:49pm

      All those who think this class warfare thing will end well, need only read Atlas Shrugged. This is where we are heading. There is a great video that puts this whole income inequality thing into perspective. http://www.youtube.com/watch?v=o35_9qcK0U0

      Report Post » lovenfl3  
    • turkey13
      Posted on March 1, 2012 at 6:10pm

      I can’t believe some idiot listened to Jo Biden! Some Spanish village is going into the pot business. What is Next? I see all the rich leaving France and probably taking their business also. Those folks in Spain are all going to be stoned – Hope they plant some food also for the munches.

      Report Post »  
    • Beckofile
      Posted on March 1, 2012 at 6:13pm

      I bet by the time he signs the legislation “rich” will be about 50K a year. It’s the same tactic used to get sheep to vote for their own demise.

      Report Post » Beckofile  
    • silentwatcher
      Posted on March 1, 2012 at 6:22pm

      ahhhh,,,,,’share the wealth.’ hmmm,,,,man that sounds quite familiar. Tax me 75 percent and I won’t work….

      Report Post »  
    • silentwatcher
      Posted on March 1, 2012 at 6:24pm

      then they take everything you own,,,,and lend it or lease it to you if you really, really need it.

      Report Post »  
    • cuinsong
      Posted on March 1, 2012 at 6:52pm

      Sounds like he is taking cues from NObama the fair share mantra will surely follow?
      “What’s Wrong With This Song” http://www.reverbnation.com/play_now/song_9134749

      Report Post » cuinsong  
  • Pattondog
    Posted on March 1, 2012 at 3:15pm

    Ask your self: why should I support their habit?
    I used to give a little but, a little wouldnt do it so, a little got to be more and more,
    I just keep trying to save a little to be better positioned than before, they just keep spending like a heroin addict that is living out of controll.

    Report Post »  
  • Pattondog
    Posted on March 1, 2012 at 3:01pm

    75% why stop their shoot for the moon how about 1,000%. beacuase that makes equally as much a sense as the proposed rate. 75% is not patriotic its stupidity proposed by those who have a hidden agenda.
    at 75% their is no motivation, why not just sit at home and let the goverment figure out how to go work and earn a pay check for once.

    Report Post »  
    • wbalzley
      Posted on March 1, 2012 at 3:12pm

      Ok, that is over dramatic…the highest tax rate ever levied in the United States was over 90% on the wealthiest Americans. During that time our economy grew…

      Is it right to take 75%, 90%, or even 1% of a person’s income? NO! But it is certainly not the end of the world…

      Report Post »  
    • Weatherboy
      Posted on March 1, 2012 at 3:31pm

      To Mr. Balzey,

      You sir are a moron. Back when the 90% rate was in effect, no one paid anywhere near that, because of all the deductions, loopholes, etc. The effective rate was closer to 20%. Hey, I have an idea, if you want the rich to pay 90% of their income, why don’t you go to France, elect that socialist moron and leave us the heck alone. Go screw up someone else’s country.

      Report Post »  
    • portague
      Posted on March 1, 2012 at 3:35pm

      it was not actually 90% just like the brackets we have now thats not what you actually pay. You pay that through out the year and at the end they give some of it back via deductions or subsidies. So the effective tax rate (what we actually paid for that year) is lower. That and tax rates that high earn less money then lower rates. They say there is a bell curve to it 0%=0$ and 100%=0$. Our effective tax rate seems to be close to the sweet spot of the max they can get. SImple and easy to understand tax codes increase money as well because people feel like they are being treated fairly and are less likey to cheat (does not completly stop cheating though). Our tax code needs to be simplified there is no reason for 70k page plus code.

      Report Post »  
    • WD021
      Posted on March 1, 2012 at 3:37pm

      Absolutely a losing proposition – The extra taxes a few will pay, will be massively offset by the exodus of many, actually creating a negative effect – DUH! He and his socialist compadres think they have the right to dictate how much someone should earn – “It’s not possible to have that level of income” – What?!?! Seriously ?!?! Arrogance personified! Citizens will leave and others will be sure to generate less income to stay just under the cap – REALLY, A-HOLE??? Does hammering the productive members of your citizens actually makes sense to you??? Those that but into this crap are idiots, one and all! REMEMBER FOLKS, THIS SOCIALIST / ENTITLIST GARBAGE ONLY WORKS UNTIL THE GOVERNMENT RUNS OUT OF OTHER PEOPLE’S MONEY and the whole country becomes poorer – THEN AS THEY SAY AT THAT POINT, “YOU’VE REALLY SCREWED THE POOCH!” Sigh, ignorance abounds…..

      Report Post » WD021  
    • DYNA
      Posted on March 1, 2012 at 4:13pm

      @wbalzley

      It’s not just the unjust amount of taxation. It is the waste and crap it is spent on. Why would anyone want to pay taxes to support anything or anyone that is endeavoring to trash the rights of the individual while making us pay for the parasitic and deviant lifestyle of others?

      Report Post »  
    • Gypsy123
      Posted on March 1, 2012 at 9:29pm

      You know Patton Dog that is not a bad idea. I am about sick to death of taking care of the rest of the big butted people who munch on potato chips and lay around the house all day waiting for government entitlements and hand outs ..I think I will just sit the next one out and force the government to make them go to work.. And I think I will sit the one after that out so the Government will get a job as well.

      Report Post » Gypsy123  
  • SpankDaMonkey
    Posted on March 1, 2012 at 2:50pm

    .
    Better watchout Barack, this white guy might just knock you off your pedestal, I can hear the “Free Lunch Crowd” Licking their Chops over this guy………..

    Report Post » SpankDaMonkey  
    • MYHEROISRON
      Posted on March 1, 2012 at 2:59pm

      To be patriotic does not include being a lousy socialist. If a politician wants to be patriotic they should attack the size of government, shrinking its size down to the point where slamming the citizens for more taxes is not necessary. I’m I wrong here? Does that not make sense? Politicians here, or abroad, need to be hanged for even mentioning higher taxes! Shrink the size of government!!!! And then kick all socialists off our beautiful planet!

      Report Post » MYHEROISRON  
  • welovetheUSA
    Posted on March 1, 2012 at 2:42pm

    Only the poor believe such trash………..what will the country do when the rich leave……….and they will leave.

    Report Post » welovetheUSA  
    • BSdetector
      Posted on March 1, 2012 at 2:46pm

      Who’s gonna pay for everything without all those EVIL rich people??

      Report Post » BSdetector  
    • pamela kay
      Posted on March 2, 2012 at 4:49pm

      WELOVETHEUSA: not all poor people believe this trash.Not all poor people are on government assistance. Many simply live within their means and hold no grudge against those who do have money. There are allot of people that choose to live a simple life in rural areas and avoid the chaos and faced paced way of life those with money have. They hunt, fish, and grow their own food. There is not anything wrong with this. And no they don’t all play a banjo and marry their first cousins or other relatives in spite of the way they are portrayed. They might not have good paying jobs but they work to provide for their families. There are some that don’t and that live in squaller conditions but many are just content to live a modest life.

      Report Post » pamela kay  
  • the_united_states_of_britain
    Posted on March 1, 2012 at 2:29pm

    i think its a good idea, soon as the uber rich move out, some of the middle classes will get a chance. i think youre all nieve to say the least. the reason the west is screwed is solely down to the banks, not the poor. not the people struggling to eat. i hope they do this in the uk. as well as creating some massive bank levy.maybe they will go home to the us. so they can ruin your country even more,

    cspitslisms alright, but not this neo capitlalism, its actually sickening how much money some people need. theyre never happy. with their zero percent government loans.

    in britain we printed some more money, you know who got it, every single penny went to the banks, none of it went into the public sector. absolutely none.

    the banks steal every penny the west had, and instead of the massive bell ends getting prison sentences, they get given billions more. i remember when banks were there to look after your money. now it seems their job is to take our money. and it is our money.

    if the rich leave, i doubt anyone would care. all their money kept in havens anyway.

    Report Post » the_united_states_of_britain  
    • BSdetector
      Posted on March 1, 2012 at 2:50pm

      “if the rich leave, i doubt anyone would care.”

      Yeah who would care that all the jobs, not just the 10-20% currently missing, but ALL the jobs leave?
      Who would care that their country has become a nation of leeches dying of starvation because they’re all too lazy to work or innovate?

      Report Post » BSdetector  
    • bandi9
      Posted on March 1, 2012 at 3:03pm

      you are so insightful, not

      Report Post »  
    • the_united_states_of_britain
      Posted on March 1, 2012 at 4:49pm

      Small businesses improve the enonomy not mega corporations who syphon every last penny they can get their hands on to line their own pockets. They won’t be missed.

      Report Post » the_united_states_of_britain  
    • Texas
      Posted on March 1, 2012 at 5:01pm

      @USOB Pull your head out of your azz. the majority of ALL Americans work for small businesses.

      Report Post » Texas  
  • ghostsouls
    Posted on March 1, 2012 at 2:28pm

    Is this obama’s lost biological twin?

    Report Post » ghostsouls  
    • BurntHills
      Posted on March 1, 2012 at 2:36pm

      as STANLEY the skank. all those rabid communist animals look the same in the dark.

      Report Post » BurntHills  
  • THX-1138
    Posted on March 1, 2012 at 2:27pm

    And they wonder why they’re the butt of so many jokes….

    An oldie but a goodie for the youngsters:

    Did you hear about the mint condition WWII french rifle on Ebay? It was never fired but it was dropped once. (rimshot)

    Report Post » THX-1138  
  • Itsjusttim
    Posted on March 1, 2012 at 2:26pm

    Well you know what you do, you donate all your money to the poor, and we all know what they will do with it.

    Report Post » Itsjusttim  
    • Itsjusttim
      Posted on March 1, 2012 at 2:29pm

      I’ve been giving up my wealth to the poor for twenty years now, because I figure I’ll let them fritter it away on nothingness.

      Report Post » Itsjusttim  
    • Itsjusttim
      Posted on March 1, 2012 at 2:33pm

      And every bit of it will end up right back in Caesar’s hand and it will be worth nothing.

      Report Post » Itsjusttim  
    • Itsjusttim
      Posted on March 1, 2012 at 2:35pm

      Because money is only worth the ‘Illusion’ you build it into for them to gain from it.

      Report Post » Itsjusttim  
    • Itsjusttim
      Posted on March 1, 2012 at 2:47pm

      So if someone is going to pay 75% to the slave master, then 75% of your soul belongs to the slave master, and when that portion gets left outside the camp, then I’m afraid just 25% percent of your soul won’t remember much in your next life.

      Report Post » Itsjusttim  
  • BurntHills
    Posted on March 1, 2012 at 2:22pm

    all of France’s wealthy will LEAVE It. only thing left in France will be the useless and mindless communist leeches and the filthy muslims waiting to put the victory mosque in Notre Dame cathedral..and every other Christian church they can overwhelm. and watch how soon the Eiffel Tower falls or is painted green and white with a crescent on top, because french culture offends islam.

    Report Post » BurntHills  
  • Razorhunters
    Posted on March 1, 2012 at 2:17pm

    Sheriff Joe Press Conference Live-Feed, 3-1, 3 P.M. et.
    http://www.art2superpac.com/joe.html

    Report Post » Razorhunters  
  • AnAmerican111
    Posted on March 1, 2012 at 2:16pm

    Hey look! It’s OBAMA it non-muslim form……………………

    Report Post »  
  • Anonymous T. Irrelevant
    Posted on March 1, 2012 at 2:01pm

    Now I know why Obama likes the French and considers them to be our biggest ally.

    Report Post » Anonymous T. Irrelevant  
  • 13th Imam
    Posted on March 1, 2012 at 1:58pm

    Used to be that Richy Rich Eurotrash could come to the Good Old USA, and live without being Financially RAPED. Not any more .

    Report Post » 13th Imam  
  • progressiveslayer
    Posted on March 1, 2012 at 1:54pm

    Sounds like Hollande wants to tax people into oblivion,maybe the socialist fool can match the success of Greece.

    Report Post » progressiveslayer  
  • momrules
    Posted on March 1, 2012 at 1:52pm

    The socialist here and in Europe will not be happy until everyone but a few uber wealthy elite are broke and sucking sustenence from a government teat.
    Absolute power, absolute control…….the NWO advocates dream.

    Report Post »  
    • BurntHills
      Posted on March 1, 2012 at 2:42pm

      France is doomed, they are too weak to fight for themselves. here that rabid animal obama‘s ’dream‘ is the same as his rabid animal father’s.. to starve, rape, loot, kill, ghetto and help break ALL of the propserous HARDWORKING European [white] nations — plus America — and his puppetmaster-soros-funded NWO will have everyone barefoot, starving, diseased and illiterate in slums .. and if they ”have” to have a Religion, no ‘white’ Christian religions, just groveling on their foreheads to islam, a military political conquest machine founded by a drug-addled pedophile and serial killer in a tent in the 600s AD, who decdied if he invented a ‘god’ named ‘allah’ his neighbors would follow him and do his gory psychotic bidding and he would have all the wealth..and fresh infants and girls he could handle.

      Report Post » BurntHills  
  • SpankDaMonkey
    Posted on March 1, 2012 at 1:51pm

    .
    ‘Yes, We Are Serious’: ‘Ethicists’ Defend ‘After-Birth Abortion’

    Ya’ll missed this one………

    Report Post » SpankDaMonkey  
  • tech_man6
    Posted on March 1, 2012 at 1:46pm

    Why do all these socialist want something for nothing?

    Report Post »  
  • netmail
    Posted on March 1, 2012 at 1:45pm

    “We’re all Catholic now.“ ”We’re all Jewish now.“ ”We’re all Egyptian now.”….No, except for the elites of the elite, what it really is: ‘We are ALL POOR NOW’. This is just a power grab in an attempt to delay the inevitable fall of the financial house of cards that’s staring them directly in the face NOW.

    Report Post »  
  • SpankDaMonkey
    Posted on March 1, 2012 at 1:44pm

    .
    Socialist presidential candidate Francois Holland.

    I think Obama is jealous of this guy’s title……

    Report Post » SpankDaMonkey  
    • RightUnite
      Posted on March 1, 2012 at 1:51pm

      I wish he was so jealous, he would go and try and steal that crown!

      Report Post »  
  • IMCHRISTIAN
    Posted on March 1, 2012 at 1:43pm

    Guess he doesn’t care about jobs for the people either. Must be a something in the air that is bad for some campaigners.

    Report Post »  
    • oldguy49
      Posted on March 1, 2012 at 1:52pm

      if all the people that make the largest portion of money and create jobs leave……who will pay for the unemployed 99% welfare

      Report Post »  
  • AJAYW
    Posted on March 1, 2012 at 1:41pm

    Obama wants it here thats how Francois Hollande got the idea, they have all those free loaders there like we do here.
    The Food Stamp program, part of the Department of Agriculture, is distributing
    the greatest amount of food stamps in history.

    Meanwhile, the Park Service, also part of the Department of Agriculture,
    asks us to “please do not feed the animals” because the animals may grow
    dependent and not learn to take care of themselves.

    Is there a message somewhere in here?

    Report Post »  
    • Plan B
      Posted on March 1, 2012 at 2:19pm

      Good Comment!!

      Report Post »  
    • OklahomaBound
      Posted on March 1, 2012 at 7:01pm

      Great analogy!

      Report Post » OklahomaBound  
    • AmazingGrace8
      Posted on March 2, 2012 at 10:17am

      When “they” took the “The” out of “Smokey The Bear” to just Smokey Bear, I knew this country was heading for trouble! I really am serious about this change because look at all the PC we have today! I am very concerned that the federal government owns so much of “rich lands & forests” not to even mention other countries have purchased land with natural minerals. We are slowly being set-up and I am concerned there is no way to roll-it-back. My heart grows heavy everyday for future generations.

      Report Post »  
  • DIVINEPROVIDENCE1776
    Posted on March 1, 2012 at 1:40pm

    We must defeat the One World Socialist Government aka NWO they are the antithesis to freedom and liberty.

    Report Post » DIVINEPROVIDENCE1776  
  • Plan B
    Posted on March 1, 2012 at 1:37pm

    Coming our way.

    Report Post »  
  • hi
    Posted on March 1, 2012 at 1:36pm

    He is mentally challenged.

    Report Post » hi  
    • MidWestMom
      Posted on March 1, 2012 at 1:56pm

      If he wins the election I wonder if his first speech will include the words “off with their heads” and if his first national expenditure will be for a guillotine.

      Report Post »  
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