François Hollande’s Socialist government is facing a new tax revolt – this time not from big business protesting against the president’s 75 per cent income tax band but a viral online protest by small French entrepreneurs furious about a jump in capital gains taxes.
Within hours of the announcement of the measure in last Friday’s 2013 budget, a group of web entrepreneurs had hosted a Facebook page to voice their opposition which quickly attracted thousands of hits. The issue rapidly spilled on to Twitter and other networks.
Calling themselves “the pigeons” – French slang meaning, loosely translated, “the fall guys” – the page had attracted more than 23,000 “likes” by Tuesday and the Twitter stream #defensepigeons was being bombarded with messages of support. French mainstream media also latched on to the protest...
In an online statement of their objections, Les Pigeons said the measure amounted to the “breaking of dreams, an almost sadistic demotivation”.
Stoking the ill feeling were remarks made by Pierre Moscovici, the finance minister, on Friday when he referred to those “who earn while sleeping”, adding: “It is not right that capital income is taxed at a lower rate than income from work.”
This is further support for my contention (my theory which is mine) that the welfare state tax code is not (and will NEVER be) aimed at the rich. The tax code is aimed at two groups: a. the middle class, and 2. the newly successful entrepreneur. They target the middle class because of their (for now) large numbers and because they are trapped in w2 type jobs where businesses are the captive tax collectors. They target the emerging rich to beat back the competition for seats at the table.
ReplyDeleteNext chapter in French financial repression, which was already hinted at by (I think) Sarkosy may be taxing worldwide income for all citizens, i.e., adopting the USG heinous practice of extending slavery beyond it's borders. Another choice is an exit tax. Whatever it is, "harmonization" will be tptb's favorite word.
*sigh*
We already have an exit tax.
ReplyDelete