The NY Times: http://www.nytimes.com/2012/08/08/bu....html?_r=2&hpw
I just read Atlas Shrugged and I had no idea it was a prophecy.
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“Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.”
new president who has proclaimed, “I don’t like the rich.”
Many companies are studying contingency plans to move high-paid executives outside of France
They say some executives and wealthy people have already packed up for destinations like Britain, Belgium, Switzerland and the United States, taking their taxable income with them.
They also know of companies — start-ups and multinationals alike — that are delaying plans to invest in France or to move employees or new hires here.
the tax plan is about “justice,” and “sending out a signal, a message of social cohesion.”
“People have an acceptable amount of taxes they are willing to pay,” said Mr. Horton, the accountant, “and if it goes above that, they will move somewhere that’s more reasonable.”
“The thing French politicians don’t seem to understand or care about is that when you tax away two-thirds of someone’s earnings to appeal to voters, productive people who can enrich businesses and the economy won’t come — or they will just leave,”
She said she had been close to sealing a deal for a seasoned executive in London to join one of France’s biggest companies earlier this year, when Mr. Hollande made his 75 percent vow.
“When the guy heard that, he said, ‘I’m not coming,’ and withdrew from the process,” said Mrs. Segalen, the head of the Segalen et Associés, a consulting firm.
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So this 75% tax will force the people you are taxing out of the country meaning that you will receive 0% money from them. Good job.
I just read Atlas Shrugged and I had no idea it was a prophecy.
__________________________________________________ _______________________________
“Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.”
new president who has proclaimed, “I don’t like the rich.”
Many companies are studying contingency plans to move high-paid executives outside of France
They say some executives and wealthy people have already packed up for destinations like Britain, Belgium, Switzerland and the United States, taking their taxable income with them.
They also know of companies — start-ups and multinationals alike — that are delaying plans to invest in France or to move employees or new hires here.
the tax plan is about “justice,” and “sending out a signal, a message of social cohesion.”
“People have an acceptable amount of taxes they are willing to pay,” said Mr. Horton, the accountant, “and if it goes above that, they will move somewhere that’s more reasonable.”
“The thing French politicians don’t seem to understand or care about is that when you tax away two-thirds of someone’s earnings to appeal to voters, productive people who can enrich businesses and the economy won’t come — or they will just leave,”
She said she had been close to sealing a deal for a seasoned executive in London to join one of France’s biggest companies earlier this year, when Mr. Hollande made his 75 percent vow.
“When the guy heard that, he said, ‘I’m not coming,’ and withdrew from the process,” said Mrs. Segalen, the head of the Segalen et Associés, a consulting firm.
__________________________________________________ _______________________________
So this 75% tax will force the people you are taxing out of the country meaning that you will receive 0% money from them. Good job.