Wash, rinse, repeat;
French President Francois Hollande received approval from the country’s constitutional court to proceed with his plan to tax salaries above 1 million euros at 75 percent for this year and next.
Under Hollande’s proposal, companies will have to pay a 50 percent duty on wages above 1 million euros ($1.4 million). In combination with other taxes and social charges, the rate will amount to 75 percent of salaries above the threshold, the court wrote in a decision published today
In effect slavery.
and some cry for a “sunshine list”.
Well, Quebec should have a healthy influx of French (From France) immigrants now…Oh wait, there are no jobs in la belle province either. Too bad Marois has put a moratorium on fracking amoung many other anti business decrees in the continuing self isolating French-Canadian Culture void of any Right wing/common sense voices. (Quebec has no RW tv or radio news or commentary and even RW blogs are rare. The CBC Radio-Canada dominates there).
Maybe Pauline will soon be seen in Paris screaming from a balcony:
Vive La France in Shackles!
Currently France has a maximum 45% Income tax and upwards of 19.5% VAT.
75% tax on 1 million Euro’s x 25% (take home) = $250,000 Euro’s.
45% tax on 400K x 55% (take home) = $220,000 Euro’s.
Once you include Corporate Tax rate of 33.3% along with “Gift” tax’s, “Wealth” tax’s, and “Inheritance” tax’s only a nutter, or Political Insider would remain in France.
Of course the EU, World Bank, UN and many others of the Crony Socialist Elitist, who will never pay taxes, are making it impossible to find a place to run to.
Dont worry its only for two years 🙂
Stephane Dion would have to pay if Dion didnt have all that money he owes in back contributions ,
When that doesn’t raise the anticipated greater revenues, and it won’t, then they’ll just lower the bar. If experience is any teacher, they’ll have to lower punishing marginal tax rates into the 100K per year territory, like we had in the Chretien years where the marginal rates were at an obscene rate of 54% fed/prov on taxable income over $60,000 per year.
Given the entitlement economies aren’t recognized as the problem, France will likely outpace even the Grits’ best efforts. Laffer must be laughing.
What happens when taxes become confiscation is the tax base disappears. This is not optional. The domestic head offices shrink, disappear, or move. No-one whose income is portable will remain. It is a stupid move that only socialists could dream up. Not the first time the golden goose has been killed.
Well the French were world leaders once, the french haircut lives on.
Now they can rinse and repeat, as the Kleptocracy once again rules the nation.
Where can we get an automated guillotine?
I can just imagine the number of companies that want to invest in France now. According to wiki French people will work until July 16th to pay the taxman, approx 54% of what they earned in 2007 went to the government, before M. Hollande was elected. Canada is better at June 6th or 43% (as of 2009), which is still too much.
On the brighter side, you can always tell your employer you will work for 500K instead of 1 million and take other perks (like time off) and not loose a bit of take home income.
The loss is the governments.
Of course it’ll all work until the government forces you back to work. The Slave Trade that the left loves so much.
And once again Kate provides the cryptic summary: wash, rinse, repeat.
They cannot be persuaded. They must proceed, destroy, and be tossed out by the victim multitudes.
One of my the most powerful epiphanies occurred while reading, or re-reading, the great von Mises.
He was explaining that if politicians could see that their programme will not be able to deliver the results they are seeking, they will cease and desist, and reform.
And Me goes: OMG Ludwig, you’re a hopeless naïf, for they are not seeking the good outcomes you are projecting upon them. They really and truly want to engage in envy-saturated destruction, full stop. As I am wont to point out to my tiny circle of interlocutors, Never Underestimate the Power of Envy in the World.
This policy will guarantee that France become poorer very quickly. It will not have the resources to deal with it’s growing muslim problem. France will become a pauper state like Greece and the best is …. no one will care. it’s France.
The Conservatives should be going on a Laurier-style immigration push.
There’s no reason we shouldn’t be getting thousands of French immigrants coming to Canada. Bright, young and ambitious…they should be pouring into Canada which has a much better economy, better freedom, better aspirations.
Perhaps the trappings of socialism are just so great in the 21st century that ambition is dead, despite the malaise that The West is experiencing. Sort of like the “non-poor” poor in Canada?
I find it hard to believe though….youth will always be attracted to adventure and ambition.
We should be in Europe, selling it.
Yes, but Laurier had the good sense to hire a capable person to oversee the immigration.
What Canada needed at the time was good farmers to settle the millions of acres of nothing in the West, so Clifford Sifton sought out and brought over the best,Ukrainian, Galician and other Eastern European peasants who could endure our weather and the tribulations of hacking out a farm on the Prairies.
Sifton did a great job on that file, but I don’t have much faith in any of the current crop of politicians who don’t see what Canada needs, but what THEY need to get re-elected.
So, French speaking immigrants? They’d probably bring them in from Algeria, Cameroon, Morocco, and every other third world Country that was once colonized by France.
Any body BUT White Europeans!
We really don’t want Europeans. They are responsible for Francois Hollande being president in the first place. They voted for this.
Arizona has the same problem. Idiot Californians and New Yorkers come to AZ to get away from the socialism and corruption at home, then they vote for it again here. Because they didn’t learn anything when they moved, they just changed locations. That’s how Janet Napolitano got to be Governor of Arizona, and its why the present Governor has so much mess to clean up.
You want stupid French socialists to come to Canada and vote Shiny Pony? Let them lie in the bed they made a while first, and really get a feel for the socialist bedbugs sucking away all their blood.
Socialist tyranny is a self inflicted wound my friends. Who should know that better than Canadians?
Exactly. Marois’ Kaybec has already imported thousands of North African muslim socialists that the face of Montreal (and the language) has morphed into Little Arabia. France did the same and anyone of them seeking shelter to do the same thing (we’re doing it without their help now) here…we don’t need!
I’d take Aussies before the Brits or the French. The rest of the EU can suck eggs!
My son-in-law works for a major French multi national doing business here in Canada. The CFO sent out to run the Canadian subsidiary regularly makes fun of Canada’s ability to run our finances. No body from the ‘sticks’ should have the expectation of understanding such a complicated subject.
When asked about France’s finances he simply laughs and says that is temporary.
Phantom & PO’ed, yes but.
As with Ontario, Quebec and Alberta, there are 30 -40 % who do see the ruin in bribing the taxpayer with their own money.We need better intelligence so as to only import those who consistently oppose the madness.
Insanity is doing the same thing repetitively whilst praying for different results, AKA , believing I can run your life, better than you can, through the use of a bureaucracy to impose my divine wisdom..
Meanwhile you come to know that I,1 can not balance a cheque book,2 have never had to comply with the idiocy I impose, 3 have lifestyle outcomes you would not wish on anyone.4 Have contributed nothing to the public wealth I demand control of.
Yet I remain convinced of my superior intellect, my right to dispose of your labour and wealth as I see fit.
Could you reason with such a fool?
Save what we can, provide refuge for those who resist and banish the parasitic hordes to enjoy the results of their kleptocracy.
Split Canada at the Manitoba border? Or trade Canada south of the 49th for Alaska?
Will the national anthem become Praise the lord and pass the ammo?
I would welcome French immigrants, as long as we can vet them and select those who will be a net benefit to the country.
1. You are coming to Canada, not Quebec. Learn to use English, and live in that language.
2. Be a member of a self-supporting class. Have a trade, or profession, or a track record for business acumen.
3. Understand that welfare won’t be provided, and UI benefits can’t be accessed by new immigrants until they have two years’ in work.
4. Post a bond sufficient to buy a return ticket to France for yourself and your dependents, so that you can return home if you can’t make it here.
My little area of Alberta was settled by French immigrants in the early 20th Century, and those families are now all solid Canadian families, and the norm is to speak English.
Rudyard Kipling
Dane-Geld
A.D. 980-1016
It is always a temptation to an armed and agile nation
To call upon a neighbour and to say: —
“We invaded you last night–we are quite prepared to fight,
Unless you pay us cash to go away.”
And that is called asking for Dane-geld,
And the people who ask it explain
That you’ve only to pay ’em the Dane-geld
And then you’ll get rid of the Dane!
It is always a temptation for a rich and lazy nation,
To puff and look important and to say: —
“Though we know we should defeat you, we have not the time to meet you.
We will therefore pay you cash to go away.”
And that is called paying the Dane-geld;
But we’ve proved it again and again,
That if once you have paid him the Dane-geld
You never get rid of the Dane.
It is wrong to put temptation in the path of any nation,
For fear they should succumb and go astray;
So when you are requested to pay up or be molested,
You will find it better policy to say: —
“We never pay any-one Dane-geld,
No matter how trifling the cost;
For the end of that game is oppression and shame,
And the nation that pays it is lost!”
This may seem off the subject, but think about it. Will they leave or keep paying?
if you’re a CEO in france, reduce your salary to 990k for the next two years.
We already have the notion of “minimum salary”. I think it is more than time we introduce the notion of “maximum salary”
If you are making 1 million, that’s already more than enough sorry.
What happens in Fwance STAYS in Fwance. Or else!
The Germans are sternly admonished that they will damned well keep the frogs at the conclusion of WW3 too.
“The Conservatives should be going on a Laurier-style immigration push.”
You would only attach the wrong French immigrants, if there is such a thing as the right French immigrant.
Pay caps would be as economically unsound as minimum wages.
Central planning NEVER works. It can’t work.
However corporate governance could be improved in order to give shareholders more input on executive pay.
I’d be tempted, maybe, to charge a surtax on bonuses paid in loss years, but, nah, that would be a bad idea too. A loss year may be a vast improvement over a prior loss year.
Nah, no way to justify government intervening in contract making. It’s only role should be to enforce legally binding contracts.
People like Obama are fond of saying that x amount should be enough but we can be absolutely sure that no amount will be too much when he cashes in on his failed presidency to the tune of a few hundred million.
Quebecois NDP separatist >
“If you are making 1 million, that’s already more than enough sorry.”
This coming from the “have not’s” that take everyone else’s money to provide themselves a comfortable living.
I couldn’t expect you to understand this, but the reality is outside of Liberal Millionaires who sing and dance for a living, there are many industrious conservative millionaires that drive the human race forward through industry and technology.
The reality for much of their drive as is with everyone is financial rewards.
If you take away this incentive, too many will not see a percentage in pursuing achievements that benefit many. This is why Communism fails. Otherwise they simply leave for greener pasture that welcome them and their money, leaving behind a socialist sh*thole as so many become.
Why aren’t the American and Canadian socialist advocates running to live in these wonderful Communist/ socialist countries? Why are the people of those countries dying to get here?
You want 75% tax for millionaires; you now have a place in France to live comfortably. We’ll take the millionaires instead.
If stealing 75% of individual income isn’t enough to pay France’s bills, perhaps they should take more?
The ruling class seems to think it’s a better idea than taking 54% if 75% is better than 54%, how can 88%, or 92% for example, not be an even better % ?
Take it all.
QNDPs, why don’t you immigrate to France? French is the official language, les maudits Anglais are across the English Channel where they can’t tell you what to do, you can drive a Peugeot and live in a socialist paradise. Is it because you have to work an extra month every year for the government before you start working for yourself?
If a high level employee creates wealth for their employer then the company can grow which requires buying more supplies and hiring more employees. Top shelf executive talent is a rare thing and companies around the world compete for it with salaries. A lot of that talent will leave France for less taxed countries so the long term effect is that France will be worse off as the economy stagnates under high taxation and a ‘brain drain’.
By the way, if you google ‘French influx to London’ you will find that there are over 250,000 French in London already.
Professional football clubs around the world are now eyeing the soon to be departed footballers from the French club, as it makes absolutely no sense for anyone to sign there. Spanish and Premier League welcome this forthcoming fire sale as the French team will be in a position of weakness in transfer negotiation.
Al_in_Ottawa >
“France will be worse off as the economy stagnates under high taxation and a ‘brain drain’.”
Heh, I suppose that we forget that everyone in NDPS world is equal; no one is smarter than the other.
BigFire >
“….are now eyeing the soon to be departed footballers from the French club,”
Are any of them even French? France spent millions importing them to pretend to represent their country, now they lose them because they won’t conform to French Culture.
@ Quebecois NDP
Does that include the starting line-up of the Habs, there QuebecKo Sicko?
I am slowly coming round to the notion that I support widespread firearm ownership, so that parasites like you can’t rob me and mine, and dress it up as Christianity (by the way, Socialism IS directly derived from Christianity, after having thrown Christ away).
In ancient history, you’d be the stupid prick who couldn’t be bothered put down his bisexuality and his drug habit for two weeks, and till his gorram land, then you’d turn around and bitch at your neighbours who worked their asses off, that none of it is your fault. You’d demand they share the bounty with you.
Weapons have always been the primary defence against thieves and brigands.
Please do not abandon the Niagara Peninsula when you slice Canada at the Manitoba border. We have been isolated and ignored for so long because of our conservative common sense.
It is only with the corruption of the Liberals becoming widely known the Harper government received three of the four federal seats in the Niagara Region alone. The other is a NDP former Union official for a community which has lost almost all of its tax base and employment opportunities with the shutting down of manufacturing facilities.
Better idea! look at the map of Lake Ontario and where the international border line with The U.S.A. swings South to run up the Niagara River. Just run the border west through Lake Erie until it swings North up past Detroit and Sarnia into Lake Huron to where the line swings west again after moving into Lake Huron. Then run that line North to Hudson’s Bay.
You will get rid of the most of the Liberal hangers on in Ontario; form a new/old Province called Canada West; which sits on the Eastern border of Manitoba, but includes much of the present Southern Ontario leaving Toronto and the ilk to remain with Quebec and the Atlantic “hand me more” population.
Canada West, including the Niagara and Bruce Peninsulas with the interconnecting counties, will provide an East of the Great Lakes access to both the United States and the Atlantic Ocean.
Just saying; but in agreement with any action that moves us away from the Ottawa and Toronto Media/Bureaucracy still under Liberal Control. Cheers;
Please correct me if I misunderstood …. the way I read the article is any “salary” ABOVE 1 million euros (~1.4 million U.S. dollars) is taxed at 75%. Presumably the current tax rate for a million euros/yr is unchanged and is tolerable. And I didn’t see anything about other “compensation” such as stock options or deferred salary mentioned. If I’m correct, then this will have minimum impact on either corporations or individuals ….. and it won’t raise much money either. Also, if I am correct, then this is more about posturing to the socialist base voter rather than being an actual punitive tax.
I’d be interested to hear opposing views………
You’re a first class human piece of garbage.
My uncle in Britain found a simple solution to the sky high taxes in the pre Margaret Thatcher days. Since he worked on commission, after a certain income he simply stopped working. Time off is the one thing the socialists haven’t yet figured out how to tax — although I’m sure they’re working on it. The result was that potential clients went without the benefit of his services and the total amount of tax he paid in a year was less than it was when the tax rates were lower. But that’s socialism — everyone equally impoverished by government fiat except, of course, for the governing elites themselves.
Why is that ? Do tell us (using small words) what part you disagree with. Would love to read it as we don’t get many NDP’s or Greens on this site. C’mon….you can do it.
I’ll “second” peterj’s request.
Yes, after the French government has gone to so much expense and effort to
build up La D’efense as a top location for business headquarters.
Note Franc,ois Hollande’s cute little moonbat smile. It seems to be universal.
Maybe our stupid electorate will notice the mess than Hollande is making, and the
mess that B.O. has made in the US, and draw the conclusions about a left-wing
government in Canada.
But I am probably just dreaming.
Remember, the Albertans voted for the Red Rat. The BC electorate is capable of
voting for anything. I don’t even think it has to have two legs a
nd one head to win in BC.
Take it all? That is what Barack Obama Sr. discussed for Kenya. Take it all, and
provide really really really good government services in return.
Right.
Although I posted that comment without the normal “/sarc” so most folks would know I didn’t really intend my commentary to be taken seriously, I don’t care enough about the french to have an opinion on them keeping their euros to buy their crappy tin can autos* either. I suppose with that in mind, sure, take it all. Or force them to flee to Londonistan (of all places?) If 54% isn’t enough, take 75%, and if that’s not enough, take 80whatever %, or perhaps 98%.
Who cares? the result is the same, they’ll always find a way to spend that and more.
*let it burn.
Take it all, ect…
As ive said here on occasion regarding western separation:”the question is ‘when’ not ‘if’.
Btw, your terms sound suitable.
and; mikeg81 can eat a ….
A lot of somebodies are getting a pay cut.
How else not to pay all these taxes. You just cut everyone’s pay down to 750,000 a year and then no extra taxes will be awarded to them.
Economic policy like other aspects of policy must be determined by intelligence not by passion.
Taxing the H*ll out of millionaires is not going to obtain the maximum returns from them
and their business activities. There is plenty of documentation on that! Some will emigrate,
some will move their wealth out of France by every
conceivable loophole – and they can pay the most skilful accountants and lawyers to do it. And some will
engage in strange manipulations of their holdings so that their taxable incomes are minimized.
Those who do not know history are doomed to repeat it. Sorry.
Quebecois NDP separatiste, you can begin your reading with the Bronfman fortune, and then go on to
K. C. Irving’s will.
Sorry.
Of course there is an exemption for anyone connected to the EU banking/political cabal.
Stealing is the easiest way to gain wealth. Stealing from the wealthiest is the most efficient way to go about doing it.
The politician of the moment doesn’t care what happens next. They only care that they get their gold now. Later is for others to carry out their money grabbing schemes.
bbss >
“Weapons have always been the primary defense against thieves and brigands.”
Of course, that is why they religiously attack the middle class with weapon bans knowing full well that criminals will always have all the weapons they want.
It’s about disarming the prey.
This is primarily a symbolic gesture, a bone thrown to the Socialist Party faithful. Hollande knows this will not generate much extra government revenue, and might well reduce it.
I think it’s a bone that will cost France’s economy dearly.