If they could do it here, they would. France’s plans for a 75% tax rate has many looking for la sortie.
President François Hollande is vowing to impose a 75 percent tax on the portion of anyone’s income above a million euros ($1.24 million) a year. “Should I be preparing to leave the country?” the executive asked Mr. Grandil.
The lawyer’s counsel: Wait and see. For now, at least.
“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” said Mr. Grandil, a partner at Altexis, which specializes in tax matters for corporations and the wealthy. “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.”
I have been saying it for a while, but this whole mess in Europe will end in serious bloodshed and France has just loaded the gun. When the French economy goes belly up, look for them to start blaming other groups of undesirables.
Many people say that can never happen in Europe again. But you know how I know that I am right? Because many people say that can never happen in Europe again.
Liberté, égalité, fraternité, et le guillotine. Again.