French govt: Uhm, we really cannot afford to raise taxes any more

posted at 7:41 pm on August 23, 2013 by Erika Johnsen

Historically high tax burden. Historically high unemployment. Correlation? Perhaps?

Even France’s Socialist government ministers are starting to think they maybe took a wrong turn somewhere. Via the Telegraph:

France’s Socialist government has admitted that the country cannot cope with any further tax rises and promised no more hikes just days ahead of the country’s largest ever tax bill. …

Returning from their summer break, the French are about to discover stinging rises in tax bills in their letter boxes – the result of a series of new levies enacted by President François Hollande as he seeks to plug the French deficit and bring down public debt – now riding at 92 per cent of GDP. …

The total tax pressure (taxes and social security contributions) will account for 46.3 per cent of GDP this year – a historic high – compared to 45 per cent in 2012. …

Pierre Mosovici, the finance minister, told France Inter radio: “I’m very sensitive to the French getting fed up with taxes We are listening to them.” Laurent Fabius, the foreign minister followed suit, warning Mr Hollande to be “very, very careful” as “there’s a level above which we shouldn’t climb”.

Gee. I can’t imagine why an avalanche of huge taxes and supposedly one-off burdens — including one that has France’s 8,000 wealthiest families paying a top marginal tax rate of 100 percent — might have put an economic  damper on things. Who could’ve seen that coming?

In addition, France’s ecology minister just announced his plans for what essentially amounts to a new carbon tax for the coming years. Impeccable timing, eh?


Related Posts:

Breaking on Hot Air

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

According to progressives 90% is the ticket, what could go wrong?

rob verdi on August 23, 2013 at 7:43 PM

Well, America spends 42.5% of GDP through local, state and federal Government. The lions share being the federal government at 24% of GDP. We are only ACA away from hitting a similar threshold.

astonerii on August 23, 2013 at 7:55 PM

Socialism, the best way to destroy a country from within.

TQM38a on August 23, 2013 at 7:55 PM

100%?

O_o

HHAHAHAHAHAHAHAHAHAHAHAHAHAHA

Bishop on August 23, 2013 at 7:56 PM

What…?

They suddenly discovered the Laffer Curve???

Glory be…

CPT. Charles on August 23, 2013 at 7:59 PM

Returning from their summer break, the French are about to discover stinging rises in tax bills in their letter boxes

When they discover that they are better off unemployed than working they might just turn into Greece or will they wake up?

My money says they turn into Greece…

dogsoldier on August 23, 2013 at 7:59 PM

Why stop at 100%? 125% seems fair to me.

vityas on August 23, 2013 at 8:17 PM

According to progressives 90% is the ticket, what could go wrong?

rob verdi on August 23, 2013 at 7:43 PM

Non, non, non!

They must have 100%. Or better yet, 200%. Best of all, ten thousand million zillion quadrillion googol percent.

All money that ever existed, or could ever exist, in the Universe must belong to government!

And even then, it won’t be enough to fund all their dreams.

I predict Hollande will soon be excoriated by his cronies for weakness, and even “counter-revolutionary thought”.

Such apostasy just will not be allowed to stand.

clear ether

eon

eon on August 23, 2013 at 8:19 PM

Frenchy – it never was your money in the first place. The money you thought you earned was really what your betters allowed you to have.

KCsecurity1976 on August 23, 2013 at 8:25 PM

The muzzies will start torching cars again when their free money dries up.

patman77 on August 23, 2013 at 8:40 PM

French govt: Uhm, we really cannot afford to raise taxes any more

…call the leaders in our country…they’ll hold classes for you!

KOOLAID2 on August 23, 2013 at 8:47 PM

A blast from the past. Will Smith finds out the French tax will be 75%. Sorry if you don’t speak french but you’ll recognize the moment when Smith figures it out.

Will Smith, “75%!”

yongoro on August 23, 2013 at 8:57 PM

Seems we’re about to see what happens to a socialist country when they run out of other people’s money.

GarandFan on August 23, 2013 at 9:11 PM

Sounds like raaaaaacism to me.

Marxism is for dummies on August 23, 2013 at 9:17 PM

Something just hit me and I’m shocked that I can’t write it off as silly.

The government of BHO and those of his ilk (including France) really are into single-payer, but it’s worse than I thought. It’s not only about insurance. They want ALL income to be paid in to the federal government. They will then decide how much to give back to you, based on a “rating” system designed and administered by Obama himself.

Atlas didn’t shrug; he just imploded.

IndieDogg on August 23, 2013 at 9:17 PM

The total tax pressure (taxes and social security contributions) will account for 46.3 per cent of GDP this year – a historic high – compared to 45 per cent in 2012. …

Unbelievable. That is the most insane figure I have ever seen. Is the rest of Europe like this?

NotCoach on August 23, 2013 at 10:03 PM

conséquences imprévues ?

socalcon on August 23, 2013 at 10:18 PM

The merde has hit the ventilateur.

viking01 on August 23, 2013 at 10:24 PM

dogsoldier on August 23, 2013 at 7:59PM

Are you speaking of France? Or the U.S.A.?

tngmv on August 23, 2013 at 10:35 PM

Are you speaking of France? Or the U.S.A.?

tngmv on August 23, 2013 at 10:35 PM

It was either today’s IBD or WSJ commentary section an article which estimates that being on welfare “pays” about $29.00 an hour in Hawaii and more than $15.00 per hour in many other places. Barky has taught his cult that laziness can pay them loot almost as well as it does for our ghetto highness his-sef’.

viking01 on August 23, 2013 at 10:58 PM

The trouble with socialists and failure is that they will always rationalize it by blaming some heinous capitalist influence from the outside. Hence Cuba’s poverty is America’s fault etc.

Sharke on August 23, 2013 at 10:58 PM

Unbelievable. That is the most insane figure I have ever seen. Is the rest of Europe like this?

NotCoach on August 23, 2013 at 10:03 PM

They’re not far behind. If memory serves, the other pEU countries range from the upper 30s to low 40s, almost all of it wealth-transfer payments.

Steve Eggleston on August 23, 2013 at 11:06 PM

“France’s richest 8,000 families..”

Make that 7,000….6…

Meremortal on August 23, 2013 at 11:22 PM

There is something else going on if they got a 100% tax on some people. Overton thing. Those families would have divested and hit the road if they weren’t in on it. Unless they want their richest to hit the road.

What would happen if the US 1% hit the road? It would hurt the Democrats’ political fortunes.

Buddahpundit on August 23, 2013 at 11:31 PM

Essentially you’ve got massive taxation on the French suppressing their fertility and desire to work, while money is transferred to imported Muslims who are more fertile and are taking France away from the French. Continuous mass immigration is death for whites.

Two lessons here. One, the modern union movement is useless at best. The organizations that theoretically protect working class whites don’t do so at all. And two, the big-taxing, big-spending state is killing the nation, under present conditions.

Nothing about this is unique to France, and there’s not going to be any unique French solution either. The French are going to adopt new policies that will save them and would work for us too, or the French will continue to go downhill. Math works the same for everybody.

David Blue on August 23, 2013 at 11:39 PM

The giant state is robbing real French people of everything, including the future, which as things are going will belong to imported Muslims.

I can’t believe that this is just going to go on till the French cease to exist. I know it has gone on for decades, but it’s change or die.

I can’t believe that the French will accept death. Historically, they have had more spirit than that.

No matter how big and powerful the state is, at some point it needs to pull off a deception to thrive. It needs important people to remain convinced that the state is really their friend and protecting them. If insane taxes like this don’t serve as a wake-up call, what will?

David Blue on August 23, 2013 at 11:50 PM

The Brits enacted a wealth tax for a while. It bankrupted thousands and resulted in a wave of immigration to Oz,NZ, Canada, and ironically,NYC. Homes and estates were deserted, art fled the country. Businesses closed and no new ones had the capital to start. The effect lasted for decades. Clinton once proposed the same thing. Obama would decree it. Because to him the pain of white people is a pleasure.

pat on August 24, 2013 at 12:58 AM

The French call their wealth tax the “solidarity tax on wealth”.

That is the opposite of what it is. Instead of being taxed for more solidarity, wealthy French people are being taxed for things that will reduce social solidarity, with the result that France’s natural leaders flee the country, further reducing social solidarity.

David Blue on August 24, 2013 at 2:15 AM

Anything less than a 100% govt based economy is simply racist. French Socialists showing their racism.

pc on August 24, 2013 at 4:41 AM

The muzzies will start torching cars again when their free money dries up.

patman77 on August 23, 2013 at 8:40 PM

How do you say “Let It Burn” in French?

SubmarineDoc on August 24, 2013 at 9:04 AM

In France zee zzchitt is about to hit zee fan…

German is reporting nice budget surpluses for the first half of 2013,
France is hiding how the wheels have come off their economy.

albill on August 24, 2013 at 9:09 AM

Maybe a grand plan by Hollande to get rid of immigrants who are in France for a better standard living. No worries, Obama will welcome them at the southern border.

Sticky Wicket on August 24, 2013 at 11:03 AM

Couldn’t happen to a nicer bunch of people.

jukin3 on August 24, 2013 at 11:03 AM

Are you speaking of France? Or the U.S.A.?

tngmv on August 23, 2013 at 10:35 PM

Yes.

dogsoldier on August 24, 2013 at 11:04 AM

The muzzies will start torching cars again when their free money dries up.

patman77 on August 23, 2013 at 8:40 PM

Their system will collapse and they will do it all over again.

dogsoldier on August 24, 2013 at 11:07 AM

The Parasites are killing the Host.

Uniblogger on August 24, 2013 at 11:22 AM

Even France’s Socialist government ministers are starting to think they maybe took a wrong turn somewhere.

Meanwhile, in the US, liberals and their brain-dead President still don’t f*cking get it.

Midas on August 24, 2013 at 11:52 AM

How do you say “Let It Burn” in French?

SubmarineDoc on August 24, 2013 at 9:04 AM

Laisser brûler?

Midas on August 24, 2013 at 11:54 AM

They voted for this. Assisted national suicide.

virgo on August 24, 2013 at 12:49 PM

Something just hit me and I’m shocked that I can’t write it off as silly.

The government of BHO and those of his ilk (including France) really are into single-payer, but it’s worse than I thought. It’s not only about insurance. They want ALL income to be paid in to the federal government. They will then decide how much to give back to you, based on a “rating” system designed and administered by Obama himself.

Right idea, but slightly different implementation.

There are lots of ways to achieve the abolition of private property, and Obamacare is one of them. In the traditional American model, one can draw a sharp line between private and public property. If the government wants to spend money on nice things like the military, building roads and courthouses, paying welfare benefits and throwing cowboy poetry festivals, it is supposed to levy taxes. Then people send in money to the government, which becomes government money, and the government spends it as it pleases.

Once you’ve paid your taxes, what’s left over is supposed to be Your Money. That means that you can spend it as you will. You can pay rent, or mortgage payments, buy food, put it in a college fund, or buy cigarettes and booze. That’s the whole point of Your Money. You can use it as you wish, and when you sit down to write your monthly budget, or not, it’s all on you. This is the essence of economic freedom. Your Money.

Along comes Obamacare. No, says the government, clearly some of you are not spending Your Money wisely enough, so the Federal Government has begun the process of writing our budgets for us. First on the list is health insurance. You must spend Your Money on health insurance.

Ah, but once the government directs how you use your money, it is no longer Your Money. You don’t have to send it all in to the government, which doles it back to you. Instead, you have laws that dictate how you spend your money. Just like that, the essence of economic freedom and private property goes out the window.

The point is that health care is just the beginning of the government writing your budget. Once government gets used to having a place at the table in writing every Americans’ household budget, it will not stop there. Why not improve the health of Americans by forcing everyone to spend a certain percentage of their income on Federally-approved healthy food? Why not a luxury taxes on car and mortgage payments on expensive houses and cars, like the excise tax on “Cadillac” health plans?

The gross interference in private property is one of the worst abuses of Obamacare. If the government wants to spend the People’s money, it should levy and collect taxes and do so. Imposing mandates on the spending of private money is nothing less than the abolition of private property, and part of the overtly communist agenda that the Obama administration represents.

jms on August 24, 2013 at 7:56 PM

I Call Bullshiite!!

Of course you can Hollande.

What you can’t afford is to have any “native” Francaise figure out what you have done to them.

What will you do next?

WryTrvllr on August 25, 2013 at 1:42 AM

What no Brayam to spin this?

CW on August 25, 2013 at 10:20 AM

Look and learn, Democrats.

TimBuk3 on August 25, 2013 at 11:25 AM

Laffer Curve. Two sweet spots: one high, one low. Simple stuff actually. Too bad we can’t figure it out as well.

NoPain on August 25, 2013 at 11:13 PM