Originally Posted by Apple ][
That's funny, this is from today's news:
The dismal French PMI boded ill for the euro zone's No.2 economy for the next quarter at least.
The Markit services purchasing managers' index fell in March for the eighth month running to 41.3 from 43.7 in February, hitting its lowest level since February 2009.
"The very weak support readings for the president (Francois Hollande) suggest it will be very difficult to go ahead with far-reaching structural reforms that are likely to lift productivity growth in the economy anytime soon, said Michels at Citi.
The socialist in charge of France is finding out that stealing money from people is not as easy as first planned. Many of the rich are leaving the country, after all, who wants to get taxed at 75%? What a joke.
And, here's another one:
First, no need for super size font (I am getting old, but I still can read normal fonts, you know).
Second, I do not deny times are tough in France, but they also are in many other places in the world, including yours (I could substantiate this with some figures, but I do not want to make my case worse). The world crisis we go through is/will be comparable to the great depression, in my opinion.
About the taxation level and tax policy, may I remind you two facts concerning your own history :
1) Executive Order 6102 is an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States". The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.
The Hoover–Roosevelt Tax Increases President Hoover radically changed course from the low-tax policies of the 1920s with the Revenue Act of 1932. That law sharply increased individual tax rates at all income levels, with the top rate rising from 25 percent to 63 percent. Following Hoover, President Roosevelt signed into law a series of large tax increases for taxpayers at all income levels. At the bottom end, personal exemptions were reduced, and an earned income credit was eliminated. At the top end, the highest marginal rate was increased to 79 percent in 1936.
So you see, your great President Roosevelt went even beyond what ours decided ! I was not living at that time I do not know whether he was accused of being communist or not. Without any doubt, your present President would be accused of this, should he take comparable decisions (but anyway he is already considered more or less as such by some of you, apparently..).