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  • France's 75% 'supertax' thrown out as unfair and unconstitutional

    From guardian.co.uk

    Read Full Story at guardian.co.uk

    Blow for François Hollande as constitutional council vetoes Socialist policy at the 11th hour. France's constitutional council has dealt a blow to beleaguered Socialist president François Hollande by rejecting the new 75% rate of income tax due to come into effect on Tuesday. It declared the measure, the backbone of the French leader's successful presidential election campaign earlier this year, to be unfair and therefore unconstitutional. Immediately after the surprise legal ruling on Saturday, the French government pledged to redraft and resubmit the proposal. The so-called ... (full story)

    • Acroix70
      Acroix70's Avatar

        208 posts
    • Hahahah Hollande is such a joke, I wish I was back home to enjoy this.

    • IberoForex

      560 posts
    • Missing the news from Italy! Mario Monti is running for prime minister!

    • pip_trader
      pip_trader's Avatar

      635 posts
    • Why would anyone think that would pass? The flight of wealth would have been tremendous.

    • Guest

      IP XX.XXX.112.246
    • France is in deep shit. This should make euro stronger. As long as US greenback remains the worlds reserve currency dollar will continue to weaken and euro strength no matter what happens. Ecb buys bonds to keep rates low then keep reserves in US dollar weakening US dollar.

    • BaitUp

      171 posts
    • Quoting Guest
      France is in deep shit. This should make euro stronger. As long as US greenback remains the worlds reserve currency dollar will continue to weaken and euro strength no matter what happens. Ecb buys bonds to keep rates low then keep reserves in US dollar weakening US dollar.
      I have an honest question...Was this an attempt at humor or are you really serious. Don't get mad...I'm just not sure.

    • Acroix70
      Acroix70's Avatar

        208 posts
    • Quoting BaitUp
      I have an honest question...Was this an attempt at humor or are you really serious. Don't get mad...I'm just not sure.
      Taking a guest post serious
      Taking anyone here serious that doesn't have an explorer live account


      HAHAHAHAHAHAHAHAHAHAHA

    • Mingary

      701 posts
    • I am very disappointed. Now France might have a slight chance at recovery if they start making intelligent decisions.

    • michaelpelly

      314 posts
    • I can't understand only one reason - why the people who elect such governments believe that "tax-and-punish-the-rich" paradigm have any successful proven history (aside from Robin Hood).

      In fact - the steady economic growth is achieved in countries with flat or moderate bracket rates, but with efficient and low-level bureaucracy governments.

      The higher and higher taxes only serves the capital-holders and banks to drain more and more from the poor- and middle-class. No entrepreneurship is stimulated this way, no real economy or employment is created - on the contrary - the businesses are being closed down and more people start to receive social security help.

      Such tax balloon can't last long and will push to radical changes in the government spending and political promises.

    • jaygee

      1,994 posts
    • I think tax rates on the rich should be tied to their direct investment in their local, state or federal economies. The more they invest in the countries they live in or are citizens of, the lower their rates. Rich that invest their capital in foreign investments do NOT contribute to their "local" economies and should be taxed more.

      Also, President Obama has proposed giving companies that bring business, especially manufacturing business, back to the States tax breaks. I agree with that strategy.

    • paulp

      40 posts
    • I take it that he is not in the super tax bracket !!!

    • funske

      97 posts
    • Quoting michaelpelly
      In fact - the steady economic growth is achieved in countries with flat or moderate bracket rates, but with efficient and low-level bureaucracy governments.
      Scandinavia, for example Sweden has very high taxrates. But also a current account surplus, great GDP per capita, happy people and low unemployment. Same goes, to a lesser extent, for countries like Germany, Austria, Netherlands where taxrates are higher then western averages. In all of these countries you will find steady, longterm, growth. Many of these countries have the highest incomes of the world over ages.

    • glenngie

      336 posts
    • I don't think most people would mind a slight increase in taxes if the waste was eliminated. In the US the waste in epidemic.... also we have departments like "Education" that does nothing for schools on an everyday basis....local school districts run the show. So come talk to me about raising taxes after waste is reduced...

    • BaitUp

      171 posts
    • Quoting glenngie
      I don't think most people would mind a slight increase in taxes if the waste was eliminated. In the US the waste in epidemic.... also we have departments like "Education" that does nothing for schools on an everyday basis....local school districts run the show. So come talk to me about raising taxes after waste is reduced...
      Couldn't agree more...how many times have I seen entire road crews standing around and talking to each other...and NOBODY working. 90% of the time or more!

    • dvd

      55 posts
    • Quoting funske
      Scandinavia, for example Sweden has very high taxrates. But also a current account surplus, great GDP per capita, happy people and low unemployment. Same goes, to a lesser extent, for countries like Germany, Austria, Netherlands where taxrates are higher then western averages. In all of these countries you will find steady, longterm, growth. Many of these countries have the highest incomes of the world over ages.
      Another common theme in each of those countries is that they feel no compelling need to muck around with the business of other countries, have military bases all over the world, or send massive amounts of money to people all over the world in the efforts to buy their good will like our government feels is necessary... stop all , or even a part, of those expenditures and the u.s. would be quickly on the path to that same sort of prosperity

    • KingKaivar
      KingKaivar's Avatar

      42 posts
    • This is why the future lies in Asia, not Europe or the US. The tax rates in Asia are relatively low, and Asians aren't as reliant on hand-outs as Westerners.

      We will probably see a long-term talent drain from the West into Asia.

    • jaygee

      1,994 posts
    • and the next time a Germany comes along with a Hitler at the helm, handle it yourself? That works for me. I am all for cutting back on dod spending in this country and bringing back our troops from many countries and reducing spending and aid to foreign countries. Sounds good to me.
      Quoting dvd
      Another common theme in each of those countries is that they feel no compelling need to muck around with the business of other countries, have military bases all over the world, or send massive amounts of money to people all over the world in the efforts to buy their good will like our government feels is necessary... stop all , or even a part, of those expenditures and the u.s. would be quickly on the path to that same sort of prosperity

    • jaygee

      1,994 posts
    • total aid to eur-asia 2.17b last year. Let's cut it out. especially when they don't want it. wonder how many jobs that will cost them.

    • KingKaivar
      KingKaivar's Avatar

      42 posts
    • Quoting jaygee
      I think tax rates on the rich should be tied to their direct investment in their local, state or federal economies. The more they invest in the countries they live in or are citizens of, the lower their rates. Rich that invest their capital in foreign investments do NOT contribute to their "local" economies and should be taxed more.

      Also, President Obama has proposed giving companies that bring business, especially manufacturing business, back to the States tax breaks. I agree with that strategy.
      This is just a form of mercantilism. Basically taxpayers are subsidising their own economies. Kinda like chewing your own hand to make yourself work harder. Doesn't quite work. Foreign investment opens up new production at greater economic efficiency, allowing "locals" to buy cheaper imports. It's win-win.

    • Squeeze
      Squeeze's Avatar

      666 posts
    • Godwin's law on an fx site, fascinating.The USA was just beginning to back both horses until the end of the race, they supplied arms and technology to the German war machine until they decided it was time to flip. Their economic concerns drew them into the conflict, not a sense of justice or morality. A light was however switched on regarding the potential for a military industrial complex, from which the globe has never recovered. And estimates suggest that USA unemployment would spike by 10% without psychopaths pushing the military agenda. Therefore the unbelievably sickening, domestic and international, unnecessary violent terror continues against invisible or deliberately invented enemies.


      Quoting jaygee
      and the next time a Germany comes along with a Hitler at the helm, handle it yourself? That works for me. I am all for cutting back on dod spending in this country and bringing back our troops from many countries and reducing spending and aid to foreign countries. Sounds good to me.

    • KingKaivar
      KingKaivar's Avatar

      42 posts
    • Quoting jaygee
      total aid to eur-asia 2.17b last year. Let's cut it out. especially when they don't want it. wonder how many jobs that will cost them.
      I agree. Foreign investment > foreign aid. The latter just invites corruption.

    • Squeeze
      Squeeze's Avatar

      666 posts
    • And the wealth gap is significantly less than the UK or the desperately out on control USA.

      Quoting funske
      Scandinavia, for example Sweden has very high taxrates. But also a current account surplus, great GDP per capita, happy people and low unemployment. Same goes, to a lesser extent, for countries like Germany, Austria, Netherlands where taxrates are higher then western averages. In all of these countries you will find steady, longterm, growth. Many of these countries have the highest incomes of the world over ages.

    • Squeeze
      Squeeze's Avatar

      666 posts
    • As a society and economy addicted to and utterly dependent on imports and consumers for any growth the USA becoming protectionist would encourage a swift death. The USA empire is dying, all that remains is how quickly and how violently it will lash out.

      Quoting jaygee
      total aid to eur-asia 2.17b last year. Let's cut it out. especially when they don't want it. wonder how many jobs that will cost them.

    • jaygee

      1,994 posts
    • lol you are funny and obviously not informed. Try getting your facts straight and leave your bias/prejudice home. IT is obvious you have an ax to grind. call russia or china next time you are in a jam. good luck with that btw
      Quoting Squeeze
      As a society and economy addicted to and utterly dependent on imports and consumers for any growth the USA becoming protectionist would encourage a swift death. The USA empire is dying, all that remains is how quickly and how violently it will lash out.

    • jaygee

      1,994 posts
    • The United States is the 3rd largest exporter in the world btw. Just a fact to throw in there.

    • BaitUp

      171 posts
    • jaygee. I think you are wasting your time with that guy. He obviously "ain't the brightest bulb in the pack" so to speak.

    • jaygee

      1,994 posts
    • looks like another nick changer. sure sounds familiar. From the sounds of the sunday news shows, it looks like the senate will get some sort of compromise passed but it will probably die in the house. get your parachutes ready for the cliff....clavin event. I am just short which is better imo. might buy a parachute company after this one.

    • Squeeze
      Squeeze's Avatar

      666 posts
    • If you remove arms sales it's 4th or 5th. If you count Europe as a single state the USA is fifth or 6th. however, in terms of debt and fiscal gap it's number one out there with Pluto in an orbit all by itself.

      Quoting jaygee
      The United States is the 3rd largest exporter in the world btw. Just a fact to throw in there.

    • Squeeze
      Squeeze's Avatar

      666 posts
    • Im not sure why you're taking my post personally. It's inevitable and obvious that China and Asia can trade without the USA. The USA is simply a relic and bully. Similarly it's not required for any trade in the middle east or Europe. There is nothing the USA exports that can't be easily replicated elsewhere, other than psychotic drugs which would be better contained in its destabilised Prozac nation.





      Quoting jaygee
      lol you are funny and obviously not informed. Try getting your facts straight and leave your bias/prejudice home. IT is obvious you have an ax to grind. call russia or china next time you are in a jam. good luck with that btw

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