France unveils tax-heavy budget

[bemildred]

PARIS — To mixed reaction, France's Socialist government unveiled a get-tough budget Friday that contains $25.8 billion in tax increases and a "supertax" rate of 75% on those earning more than $1.29 million a year.

Critics said it would make France unattractive to "top talent" entrepreneurs and business leaders; supporters described it as fair and constructive.

The hardest hit will be major businesses and the rich, as President Francois Hollande stuck to his May election pledge to introduce the new "supertax" rate on the nation's wealthiest citizens, applying to about 2,000 to 3,000 people.

France's public services, meanwhile, escaped major cuts that other Eurozone countries have made in the battle to rein in sovereign debt.

http://www.latimes.com/news/nationworld/world/la-fg-france-budget-20120929,0,4668110.story

Watch their economy take off like a new Ford.

[orpupilofnature57]

1. Somebody's got to pay to clean the streets, let it be

the people that own them.

[mbperrin]

2. Those who get more must pay more.

Nobody gets more government service than large companies and wealthy people.

Just one example I give to my economics students:

Your 14 x 70 trailer house located in a trailer park in town catches on fire.

Or Oprah Winfrey's 12,000 square foot home in the hills near Montecito, CA catches fire.

Please list the differences in taxpayer manpower and equipment used to put out each fire and the likely result.

Just one and a very simple one.

Good for France.