Can Obama Learn from Hollande’s Blunder?
French Supreme Court Rules “Millionaire- Tax” Unconstitutional!
Comments | Print friendly | Subscribe | Email Us
Who said the French are a nation of socialist wimps, so pathetically to the left as to be pitied rather than emulated??
At least when it comes to France’s Supreme Court, there is a hint that common sense and fairness is still alive (barely) and tolerated.
As reported at the reference, this is so because the high court has shot down the anti-success, discriminatory, unequal, punitive tax which is the hallmark of the tyrant Hollande:
President Francois Hollande’s 75 percent millionaire-tax is unconstitutional because it doesn’t guarantee equality for taxpayers.
Hollande’s plan would have added extra levies of 18 percent on individuals’ incomes of more than 1 million euros ($1.32 million), while regular income taxes and a 4 percent exceptional contribution for high earners would have been based on household income, the court said today in an e-mailed statement.
As a result, two households with the same total revenue could end up paying different rates depending on how earnings are divided among members of those households, which runs counter to a rule of equal tax treatment, the Paris-based court said.
The tax, one of Hollande’s campaign promises, had become a focal point of discontent among entrepreneurs and other wealth creators, some of whom have quit French shores as a result. Movie star Gerard Depardieu, 64, said he was leaving France “because you consider success, creativity, talent, anything different are grounds for sanction.”
“Politically, this has an impact because it was a symbol for French public opinion, and was considered abroad as the emblem of French tax excess, of French tax hell,” said Dominique Barbet, senior economist at BNP Paribas SA in Paris. “In deficit terms, it’s truly negligible.”
Might the French experience provide a teaching opportunity for Barack Obama and his Marxist pals in Congress?
Or is America doomed to replicate the idiotic mistakes of Hollande?
The sad fact is that Barack Obama is so consumed with hatred and a desire for revenge against those who have achieved success that America may be forced to repeat Hollande’s misjudgment.
John W. Lillpop
San Jose, California