As it starts - Wealthy fleeing France
The new French President is not what they need. He is an avowed socialist and is raising taxes on the evil rich to pay for his ever increasing government and gimmies to the poor.
And the result of this? From the London
Telegraph:
France's proposed tax hikes spark 'exodus' of wealthy
The latest estate agency figures have shown large numbers of France's most well-heeled families selling up and moving to neighbouring countries.
Many are fleeing a proposed new higher tax rate of 75 per cent on all earnings over one million euros. (£780,000)
The previous top tax bracket of 41 per cent on earnings over 72,000 euros is also set to increase to 45 per cent.
Sotheby's Realty, the estate agent arm of the British auction house, said its French offices sold more than 100 properties over 1.7 million euros between April and June this year - a marked increase on the same period in 2011.
A clueless mastermind. Never heard of the
Laffer Curve? He gets what he deserves...
Posted by DaveH at July 17, 2012 3:04 PM