President François Hollande is vowing to impose a 75 percent tax on income above a million euros.

Indigestion for ‘les Riches’ in a Plan for Higher Taxes


Vincent Grandil, a tax lawyer in Paris, said many of his wealthy clients were asking him if they should bother to remain in France.
By LIZ ALDERMAN


PARIS — 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.

Some rich citizens have already left. In recent years, the actress and model Laetitia Casta, the chef Alain Ducasse and the singer and actor Johnny Hallyday all moved away to avoid high taxes.
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.

The lawyer’s counsel: Wait and see. For now, at least.

“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” said Mr. Grandil, a partner at Altexis, which specializes in tax matters for corporations and the wealthy. “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.”

A chill is wafting over France’s business class as Mr. Hollande, the country’s first Socialist president since François Mitterrand in the 1980s, presses a manifesto of patriotism to “pay extra tax to get the country back on its feet again.” The 75 percent tax proposal, which Parliament plans to take up in September, is ostensibly aimed at bolstering French finances as Europe’s long-running debt crisis intensifies.

for more;

http://www.nytimes.com/2012/08/08/b...-leave-if-75-tax-rate-is-passed.html?_r=2&hpw

lol

I love that France is illustrating the failure of socialism right before our very eyes

75%.... That's CRIMINAL. The have-nots who voted this piece of shit in to office will be eating mud in a year...

As Obama says, they'll just be paying their "fair share." After all, they didn't build their success.

Genuine socialists, not social democrats, are ravers and they never do any good. The suck up to unions and just mess things up. France may well end up being the card that pulls down the entire Euro house.

this will be good for the French moving and storage companies

Moving yes, storing not so much...

Good ole Milty, he was a genius.

Poor people and the middle class will pay, rich people can fly away.

Yep

OOOPS

Let me guess...Wikipedia!

Still, for the leftbots, it just feels good to think about making the rich pay more. They are creatures of base emotion. No logic.

Uncredited?

He'd be embarrassed to reveal that .........but maybe not....

I'd rather watch you two spill your Kool-aid on the actual topic of the article vs the author ....

Carry on.

Stupid people voted for him. They get what they deserve. Just like us.

Sent from my MB855 using Tapatalk 2

This came from a READER COMMENT from the NY Sun!!

No wonder you didn't link a citation!!! I would have been embarassed too... did you even vet the info in there or did you just take some other uneducated hump's word for it

New York Sun ..?


Lmao

Lagershit quoting from another loser in the NY Sun?

Not even an actual article either. Just some dude who doesn't like Capitalism.

Published from the Cary Building in lower Manhattan, it ceased print publication on September 30, 2008.[4] Its website resumed activity on April 28, 2009,[5] but only contains a small subset of the original content of the paper, mostly focusing on editorials rather than news content.

lmao

@Lagerfag

http://www.sternfannetwork.com/xen/...ired-javier-today.666278/page-2#post-23426786