France pushes onwards with the great socialist experiment.

Discussion in 'Wall St. News' started by Grandluxe, Jan 30, 2012.

  1. Nicolas Sarkozy has announced plans to impose a tax on financial transactions.

    The French president said a new 0.1% tax would come into force in August regardless of whether or not the European Union agrees to impose a 'Tobin tax' across the EU.

    The French tax will apply to share purchases, including high frequency trading, and CDS transactions. Unlike the European commission proposal, it will not apply to bond trading.

    Sarkozy also announced plans to raise VAT to 21.2% from 19.6% in October to fund a cut in national insurance-type charges on companies.

    He hopes the changes will boost job creation and discourage French industry from moving abroad. "We have to re-ignite growth," Sarkozy said. "We have to catch up in Europe and in the world. Our market share is declining. If we continue to burden our companies with charges that aren't theirs to pay, how can we compete?"

    Imposing the financial transaction tax and a rise in VAT.

    France is at the forefront of the socialist revolution. How will all this turn out in the long run? Keep taxing the shit out of everybody and providing welfare ? What will eventually happen?
  2. The result is a no brainer. Tax welfare.Increase sales tax, fees, etc..If we succeed with a fat tax (sugar tax)the gov't can recapture the food stamp dollar.Just one example.
  3. 2039: A century later, and the Americans are coming back to save them.
  4. 1. Raise taxes. 2. Hope it will boost job creation. 3. Hope it will discourage industry (aka heavy taxpayers) from moving away.

    WHEN HAS THAT EVER WORKED? Is he out of his farkin' mind?

    (Odumbo, please take note.... I know, he's oblivious... just thought I'd mention it.)
  5. WS_MJH


    And he's the "conservative." The socialist running against him is already calling for higher taxes on the rich and a war against finance. BTW, per wsj, the socialist is already at 57% in a head to head matchup with Sarkozy.
  6. 377OHMS


    When the french speak of attacking "finance" it is a codeword for the UK, specifically the city of London. They are talking about attacking London by imposing a financial transaction tax via the EU.

    Where is Wellington when you need him?
  7. UK already has a 0.5% tax on UK shares.
  8. An attempt by Nicolas the zionist to get reelected, but it may not work as the french may have wised up, and would vote him out.

    BTW, who is the father of Carla's baby?
  9. AK100


    Nope, America is the country of business so saving France/Europe was really about saving their customers. And what a great business deal that was for all sides involved.
  10. d08


    It's not about what works, it's about getting reelected. There is no connection between those two things.
    The word politician should be synonymous with conman, there is no difference.
    Yet we all cheer for the democratic system which puts these people in power. We don't even use ranked voting methods which are clearly superior except for evaluating the stupidity of people.
    #10     Jan 30, 2012