7/17/2012

"France's proposed tax hikes spark 'exodus' of wealthy"

So how short will France's tax revenues be From the UK Telegraph:
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. Alexander Kraft, head of Sotheby's Realty, France, said: "The result of the presidential election has had a real impact on our sales. "Now a large number of wealthy French families are leaving the country as a direct result of the proposals of the new government. . . . Gilles Martin, a Swiss tax consultant, reported the same trend. "Since the socialists came to power in France, I have been deluged with inquiries from rich French people who would rather pay their tax in Switzerland," he told Switzerland's 20 Minutes newspaper. . . .

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1 Comments:

Blogger Chas said...

Markie Marxist sez: "From flash mobs at Wal-Mart to 75% tax in France, we Marxists are fleecing capitalists everywhere these days! Wait till we run America off the fiscal cliff, which only requires us to do nothing! Ha! Ha! Under Comrade President Obama, it's never been easier to communize America! And remember, you didn't work for that! What's 'that'? Whatever you worked for! Ha! Ha!"

7/18/2012 3:52 PM  

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