Merde! Socialism is a disaster?

9:52PM BST 15 Oct 2012

The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF.

“The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.”

MEDEF, France’s equivalent of the CBI, said the threat has risen from “a storm warning to a hurricane warning”, adding that the Socialist government of François Hollande has yet to understand the “extreme gravity” of the crisis.

The immediate bone of contention is Article 6 of the new tax law, which raises the top rate of capital gains tax from 34.5pc to 62.2pc. This compares with 21pc in Spain, 26.4pc in Germany and 28pc in Britain.

An alliance of private organisations in France has issued a protest entitled “State of Emergency for Business”, warning that confiscatory tax rates threaten lasting damage to the French economy.

Mrs Parisot said the policies border on economic illiteracy: “The idea of aligning taxes on capital with those on wages is a profound economic error. It is scandalous that the French have been left in such economic ignorance for years.”

French business has called for “competiveness shock” of business tax cuts to claw back lost ground against Germany. Instead, it faces an extra €10bn (£8.1bn) of business costs from the budget unveiled in September.

http://www.leparisien.fr/economie/l...e-tempete-a-un-ouragan-15-10-2012-2234735.php

capital gains 62%?:eek:

 

I think France voted for decline by electing that Hollande (close enough) fool. Just like we did with Obama.

We have a chance to stop slitting our own throats in 3 weeks. Maybe we are dumber than the French. We will see.

 

Love that line!

Politicos can't seem to get it...

If you want LESS of something (ie, "capital formation and deployment to provide jobs and income to employees", in Hollande's case... and "higher taxes and increased healthcare costs for employees" in Odumbo's case...) TAX THE SHIT OUT OF IT!

If you want MORE of something, tax it less or not at all.

Amazing.. Politicos (and parasite voters) are greedy to the point of being STUPID..

DUH!