Politics

‘Real News From The Blaze’: Audacious 75 Percent Tax Rate for Wealthy French Raises Eyebrows

While America is wrapped up in the campaign disagreements between Republican presidential candidate Mitt Romney and President Barack Obama on welfare reform and the growth of government in the president’s first term, mainstream media outlets–with editorial tilts across the ideological spectrum–are taking notice and taken aback by the policies that have creeped into France with newly elected Socialist Party President Francois Hollande. The New York Times (yes that New York Times) published a report Tuesday on the negative impact that Hollande’s proposed 75 percent tax rate for the wealthy of France has had on the population, with not only rich but the up-and-coming beginning to flee the G8 nation that is now moving towards failed policies of the past.

“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” Vincent Grandil, a tax lawyer in Paris, told the Times. “Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.”

The Times notes that the tax would be largely symbolic and apply to an estimated 7,000 to 30,000 in a country of 65 million, only contributing a small fraction to balancing the French budget.

“French people have an uncomfortable relationship with money,” Grandil explained to the Times. “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.”

The French rate, and the flight of the talented and rich it has produced was discussed on “Real News” Wednesday. Could the United States be heading in a similar direction? Watch a clip from Wednesday’s show below:

Comments (23)

  • irarangan
    Posted on August 12, 2012 at 12:46pm

    Man, that Wilkow guy is an ugly arse

    Report Post »  
  • godisgood61
    Posted on August 10, 2012 at 12:05pm

    that will be us in the future

    Report Post » godisgood61  
  • Landon410
    Posted on August 9, 2012 at 9:53am

    so how long until another revolution in france? suppose they will bring out the guillotine again?

    Report Post »  
  • jamestoms
    Posted on August 9, 2012 at 7:18am

    Great idea, raisetaxes, filthy frogs!

    Report Post »  
  • Free2speakRN
    Posted on August 9, 2012 at 2:37am

    NYTs, do you understand what all this means?!!

    Report Post »  
  • ColoradoMaverick
    Posted on August 8, 2012 at 11:19pm

    Duhhh! What did they expect?

    Report Post » ColoradoMaverick  
    • Sirfoldallot
      Posted on August 9, 2012 at 1:00am

      LOL, we live in a world full of idiots & France now has the biggest idiot leader of them all , lol. Great idea, lol; idiots.

      Report Post » Sirfoldallot  
  • RAMJR
    Posted on August 8, 2012 at 10:51pm

    Will Smith was recently in France, when this amount of taxes was tossed at what he would have to pay, to live in France…watch his expression around 1:29…with the following words, “God bless America.” Not if Obama is re-elected! Hope & Change!…Oopsi!, I mean ‘Forward’!

    Report Post »  
  • ShyLow
    Posted on August 8, 2012 at 10:36pm

    If you want a tax plan that abolishes the IRS. It is the Ten Percent Plan. It’s been posted on here plenty of times. It is the only plan that keeps 90% of revenue local.
    There is no back-sliding with the 10% plan. It is a sales tax of ten percent, collected by the county. The County keeps 90% percent sends the remainder to the State. The State then keeps 90% from what it collects from all the Counties and sends the remaining 10% to the Federal.

    Report Post » ShyLow  
  • VotersOfNY
    Posted on August 8, 2012 at 10:31pm

    Soon the rich will leave the country. Guess what will be left? The morons that voted for socialism. Then they’ll get what they deserve for being so stupid. They will be poor and have to depend on the govt.

    Every aspect of their lives will be controlled by the govt. Their health care, their money, their jobs, everything. They will have no dreams and neither will their children and grand children.

    They’ll never be rich. They’ll never have a good job and probably will never own a home or nice car. This is what happens EVERY SINGLE TIME with socialism. It doesn’t change, it happens every time.

    Wake up America, this is what Obama has in store for you.

    Report Post » VotersOfNY  
  • historyguy48
    Posted on August 8, 2012 at 9:45pm

    Frankly I don’t think that the wealthy French are even now paying their fair share. A tax rate of 120% would be far more appropriate, that way they could apologize for stealing the money from all those poor French peasants over the years.

    Report Post » historyguy48  
  • BurntHills
    Posted on August 8, 2012 at 9:45pm

    when we heard at coffeeshop down at the truckstop that some frogs were looking at a nearby 1000ac ranch, we thought it was a bar joke. nope, no joke. —- guess America’s Heartland looks pretty good to them, it’s either millions of us pro-American Conservatives or their homeland’s economic guillotine..

    imagine, earning $1. and being given 25cents. …… how long would our anti-America Hollywood obamacommunists go for THAT.

    Report Post » BurntHills  
  • kcinco
    Posted on August 8, 2012 at 9:22pm

    It blows my mind that these people DIDN’T KNOW what they were putting into office! It’s the same thing here! Too many people don’t do their research about the politicians they put into office and then are surprised by what the end result is? Unbelieveable. Same thing here. People ignored the obama warning signs, and there were many red flags, and now look where we are. Unbelieveable.

    Report Post » kcinco  
  • vinnymac46
    Posted on August 8, 2012 at 8:57pm

    France’s economic gameplan: It didn’t work for the last 10 years so our economy is on the brink of TOTAL DISASTER, so yeah let’s just keep going and see what happens.

    Corporations of France: “We’re outta here”

    Report Post » vinnymac46  
  • Rothbardian_in_the_Cleve
    Posted on August 8, 2012 at 8:28pm

    I think Claude Bastait just rolled over in his grave.

    On a sidenote, it looks like the French elite are going to stick with French tradition and surrender.

    Perhaps they could knock a few percentage points off if they showered. Nice tax credit.

    Report Post » Rothbardian_in_the_Cleve  
  • starman70
    Posted on August 8, 2012 at 8:26pm

    I personally would have high tailed it out of France years ago. The country is just another European Socialist quagmire and it is getting worse.

    Report Post »  
  • hi
    Posted on August 8, 2012 at 8:21pm

    Who would work 9 months for free? That is what the French are asking the rich to do.

    Report Post » hi  
    • Rothbardian_in_the_Cleve
      Posted on August 8, 2012 at 8:29pm

      Sorta. I’m not defending this insanity, but that is a marginal tax rate. Not sure at what level it kicks in, but that’s not their effective tax rate.

      Report Post » Rothbardian_in_the_Cleve  
  • Detroit paperboy
    Posted on August 8, 2012 at 8:20pm

    I think they should tax all those French morons at 100% ……….the government should be the only entity allowed to spend money……idiots.

    Report Post »  
  • wisehiney
    Posted on August 8, 2012 at 8:19pm

    Francois est stupide!

    Report Post »  

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