French kick Sarkozy to the curb - Hollande to tax rich at 75%

[dmcowen674]

5-6-2012

http://news.yahoo.com/blogs/lookout/hollande-defeats-sarkozy-french-election-182314153.html

Hollande defeats Sarkozy to win French election


Hollande, the 57-year-old socialist challenger, narrowly edged Sarkozy, also 57, in a preliminary election two weeks ago, but since he did not win with an absolute majority, France law required a runoff between the top two candidates.


Sunday's victory means France will have its first Socialist president since since Francois Mitterrand, the country's president from 1981 to 1995. In voting Sarkozy out of office, French voters expressed their discontent over Europe's debt crisis.

Hollande has promised a 75-percent income tax on the rich

 

[dmcowen674]

There's hope.

Hopefully the rich start shaking in their boots here.

 

[Ronstang]

In voting Sarkozy out of office, French voters expressed their discontent over Europe's debt crisis.

Hollande has promised a 75-percent income tax on the rich

So the French are as dumb as they appear? The debt crisis was caused by socialists in the first place, how are those same idiots going to fix what they broke without completely changing how they think?

 

[Infohawk]

Why do dmcowen need to respond to his own post right away?

 

[Greenman]

And that right there is why democracy will always fail.

 

[schneiderguy]

RIP France

Maybe the USSR "won" the Cold War after all.

 

[fskimospy]

So the French are as dumb as they appear? The debt crisis was caused by socialists in the first place, how are those same idiots going to fix what they broke without completely changing how they think?

Wrong. If you don't understand what caused the debt crisis, you probably shouldn't talk about it. It was not 'socialism'.

Remember though, according to ultra conservative ideology this will cause all the job creators in France to flee in terror, plunging the country into an economic collapse. I eagerly await evidence of the newest failure in conservative economic ideology.

 

[fskimospy]

RIP France

Maybe the USSR "won" the Cold War after all.

Can you give me some ideas as to exactly how the death of France will look? Just some easy predictions on GDP growth, employment, anything like that? You don't have to be super specific, just some general ideas.

 

[nextJin]

This should be interesting! If France gets 0% unemployment, a few trillion in surplus and everyone starts living in mansions we should definately take notice.

 

[SamurAchzar]

This should get really interesting. I hope it goes through and we can see what really happens to the economy when you declare a war again the rich. Who knows, maybe it'll work out just fine and countries will follow?

 

[nehalem256]

Wrong. If you don't understand what caused the debt crisis, you probably shouldn't talk about it. It was not 'socialism'.

Remember though, according to ultra conservative ideology this will cause all the job creators in France to flee in terror, plunging the country into an economic collapse. I eagerly await evidence of the newest failure in conservative economic ideology.

So according to you the solution to dealing with an economic system that almost collapsed is to embrace one that did?

And would someone explain why taxing the rich will create jobs?

 

[nageov3t]

I hope it happens.

I'm intellectually curious to see it enacted, and if it blows up in his face, perhaps we can put an end to the call for a return to the 95% Eisenhower tax rates.

 

[elitejp]

i dont know what started the debt crisis but i do know that as a business owner ive paid more in taxes than i personally earned this year. And due to business not being as good as i would want ive had to hold off on hiring anyone new.

Its an interesting situation or feeling when employees look at the amount of money that's coming in during the day and then think your just rolling in money when in actuality the employees are making more than I am per month. But, ya, lets just tax business's more because there just greedy rich people who are taking advantage of the less fortunate.

So just my point of view but if I was rich and had enough money to relocate out of the country I would very seriously look into it. The only issue would be that if that country/location was where I earned enough money to be rich I would need to consider if i would be able to also earn that money in another country. The likelihood of this being possible is probably very slim which really only leaves you with the option of finding loopholes or trying to organize your money in such a way so as you wont get taxed at such a high bracket. But there is no way any reasonable person would willingly give away 75% of there income to the govt to let them spend it.

 

[VirtualLarry]

So, France is going to institute slavery? Isn't that what a 75% tax looks like?

 

[SamurAchzar]

So, France is going to institute slavery? Isn't that what a 75% tax looks like?

Nah-ah, that's only if you are valuable. If not, you get a free ride through life. Retirement at 60, FFS.

 

[dmcowen674]

i dont know what started the debt crisis but i do know that as a business owner ive paid more in taxes than i personally earned this year. And due to business not being as good as i would want ive had to hold off on hiring anyone new.

Its an interesting situation or feeling when employees look at the amount of money that's coming in during the day and then think your just rolling in money when in actuality the employees are making more than I am per month.

Sounds like you have no business keeping that business in business.

It is done and apparently you don't know it yet.

 

[Lemon law]

In some way, and IMHO its somewhat all part of a European reverse Goldilocks effect. First a given country goes with a government that is way too conservative or way too liberal, when that does not work, they invariably go way too far in the other direction, and somehow manage to never hit a happy and sustainable medium in the process.

Brother here we go again, the more times change, the more things stay the same is a Statement that is mostly regraded as originated in France.

But at least France is seemingly smarter than the USA, as the USA has seeming been drifting too far right, and even as the US ship of State has been on the rocks for 20 years, somehow our voters keep screaming hard right rudder still.

 

[nageov3t]

So, France is going to institute slavery? Isn't that what a 75% tax looks like?

slavery:

taxing millionaires down into the upper-middle class:

 

[CycloWizard]

slavery:

taxing millionaires down into the upper-middle class:

The response of millionaires who will just retire when it's no longer worth the time and effort to make so much money:

 

[nageov3t]

The response of millionaires who will just retire when it's no longer worth the time and effort to make so much money:

but then they'll have to cut back to 3 mistresses instead of 4

 

[CycloWizard]

but then they'll have to cut back to 3 mistresses instead of 4

And you'll have to design your own iPad. It's going to be a lot harder on you than on him.

 

[nageov3t]

And you'll have to design your own iPad. It's going to be a lot harder on you than on him.

french businessmen design iPads?

I always assumed they did nothing but rotate between their mistresses and drink wine, taking occasional breaks for smoking and cheese.

 

[Craig234]

So according to you the solution to dealing with an economic system that almost collapsed is to embrace one that did?

Man, I can't believe the destruction of Sweden and Mitterand France.

And the way that FDR caused the Great Depression with his socialism.

Not like the great laissez-faire policies giving us the booms in 1929 or 2008.

And would someone explain why taxing the rich will create jobs?

It's not that hard. The massive wealth of the idle rich is used for everything from economic boosts such as infrastrucure and education and scientific research to boosting wages.

Then those investments and wages are used for ecoomic growth.

 

[nextJin]

In some way, and IMHO its somewhat all part of a European reverse Goldilocks effect. First a given country goes with a government that is way too conservative or way too liberal, when that does not work, they invariably go way too far in the other direction, and somehow manage to never hit a happy and sustainable medium in the process.

Brother here we go again, the more times change, the more things stay the same is a Statement that is mostly regraded as originated in France.

But at least France is seemingly smarter than the USA, as the USA has seeming been drifting too far right, and even as the US ship of State has been on the rocks for 20 years, somehow our voters keep screaming hard right rudder still.

Too far right? They are nominating Mitt Romney lol

 

[Craig234]

i dont know what started the debt crisis but i do know that as a business owner ive paid more in taxes than i personally earned this year. And due to business not being as good as i would want ive had to hold off on hiring anyone new.

Its an interesting situation or feeling when employees look at the amount of money that's coming in during the day and then think your just rolling in money when in actuality the employees are making more than I am per month. But, ya, lets just tax business's more because there just greedy rich people who are taking advantage of the less fortunate.

So just my point of view but if I was rich and had enough money to relocate out of the country I would very seriously look into it. The only issue would be that if that country/location was where I earned enough money to be rich I would need to consider if i would be able to also earn that money in another country. The likelihood of this being possible is probably very slim which really only leaves you with the option of finding loopholes or trying to organize your money in such a way so as you wont get taxed at such a high bracket. But there is no way any reasonable person would willingly give away 75% of there income to the govt to let them spend it.

You sound confused that you're a Fortune 500 when yo're not.

You sound like the sort of small business progressives would like to help, not hurt.

You don't seem to understand that increasing taxes on the 'mega corporations' would enable lowering your taxes.

Instead you sould like you support right-wing policies destroying the economy.

75% taxes may well be needed to reverse the big wealth grab and build prosperity.