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And they are letting it expire. But it seems the damage is done because no one with money, either individuals or companies want to come to France anymore.
And what they did collect in 2 years came nowhere near fixing their financial problems.
As has been told many times over "taxing the rich" will not fix your problems.
The Finance Ministry estimates the proceeds from the tax amounted to 260 million euros in its first year and 160 million in the second. That's broadly in line with expectations, but tiny compared with a budget deficit which had reached 84.7 billion euros by the end of October.
..
But Delsol said the saga had made his clients more nervous about investing their time and money in France and had only added to mistrust of a complex tax system which successive governments have failed to reform.
"People have lost confidence," he said. "That is not something you can restore overnight."
What's your point? That offshoring is okay in your book as long as richies keep their precious mullah? Here's a solution; anybody who wants to move their companies overseas loses their American consumer base.
What's your point? That offshoring is okay in your book as long as richies keep their precious mullah? Here's a solution; anybody who wants to move their companies overseas loses their American consumer base.
That taxing the rich will not solve your problems.
What's your point? That offshoring is okay in your book as long as richies keep their precious mullah? Here's a solution; anybody who wants to move their companies overseas loses their American consumer base.
France didn't just tax income made outside France.
What's your point? That offshoring is okay in your book as long as richies keep their precious mullah? Here's a solution; anybody who wants to move their companies overseas loses their American consumer base.
Wow, so much lack on knowledge wrapped up in such a short post.
First, do you even understand "offshoring" and the tax implications?
Second, do you really not understand a global market? All your "solution" would do is mean that none of the companies selling the vast amount of consumer goods bought in America and made overseas could be American owned. Your solution would be that you essentially would not be able to buy an iPhone here but you could buy as many Samsung smartphones as you wanted. Do you think Apple would forgo billions of possible consumers overseas in favor of a few hundred million here?
I'm guessing you really didn't think that through.
And they are letting it expire. But it seems the damage is done because no one with money, either individuals or companies want to come to France anymore.
And what they did collect in 2 years came nowhere near fixing their financial problems.
As has been told many times over "taxing the rich" will not fix your problems.
The Finance Ministry estimates the proceeds from the tax amounted to 260 million euros in its first year and 160 million in the second. That's broadly in line with expectations, but tiny compared with a budget deficit which had reached 84.7 billion euros by the end of October.
..
But Delsol said the saga had made his clients more nervous about investing their time and money in France and had only added to mistrust of a complex tax system which successive governments have failed to reform.
"People have lost confidence," he said. "That is not something you can restore overnight."
Who ever thought that we should tax people at a %75 clip?
France is not monetarily sovereign. The United States is monetarily sovereign. Falsehood #1.
Falsehood #2: Tax rates do not cause migration. California has the highest taxes on the rich in the United States, yet consistently has one of the highest rates of millionaire inward migration. Read the data. Tax flight is a myth that has constantly been debunked.
France is not monetarily sovereign. The United States is monetarily sovereign. Falsehood #1.
Falsehood #2: Tax rates do not cause migration. California has the highest taxes on the rich in the United States, yet consistently has one of the highest rates of millionaire inward migration. Read the data. Tax flight is a myth that has constantly been debunked.
If you read the article it states that migration didn't happen.
But no new business/individuals that came to France. It shunned off new investments as people and business passed over France.
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