| France to Impose 75% Income Tax Rate |
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| by Tom McGregor | Tue, Jul 3, 2012, 08:59 PM |
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French Socialists have just introduced a 75 percent income tax rate bill. The ruling-party contends that only high tax rates can rescue the nation from a global economic recession and out-of-control debt crisis.
The BBC News reports that, “French PM Jean-Marc Ayrault has called on the French people to rally behind the government to tackle a ‘crushing’ and ‘unprecedented’ debt crisis.” He has outlined the new Socialist government’s strategy in a keynot speech to parliament for the next five years. He spoke about a so-called Buffet-Soros Tax, in which those earning more than 1 million euros would be taxed at 75 percent According to the BBC, “Mr. Ayrault revised France’s economic growth forecasts. He said GDP was likely to grow 0.3% this year, down from 0.5%, and 1.2% in 2013 instead of previously expected 1.70%.” He said, “then state pays nearly 50 billion euros to its creditors annually.” Some American voters are starting to worry that Obama may impose a similar 75% tax rate on U.S. citizens if he’s re-elected to the White House. To read the entire article from the BBC News, link here: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
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Comments (2)
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written by FormerJoneser , July 04, 2012 Looks like Commie Alex Jones and Red Obama are tax advisors for the French government.
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written by BarryO , July 04, 2012 As I recall, French Socialists have already endorsed my Tax Plan. So please, Re-Elect Obama to the White House. You can count on 'Change' to your income tax rates. But I think 75% is too low, we need to really soak the rich. Thank you Mr. Buffet for your tax proposal. Write comment
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