VIDEO So, French Taxman is Scrapping his 75% Tax Rate, Happy New Year

France is providing us with a very good case study on what happens when you raise taxes too high. The 75% tax rate imposed upon the richest French residents* was a centerpiece of Socialist Francois Hollande’s campaign for the French Presidency. At any rate, having found out just what happens when you raise taxes to such draconian levels, the country is now quietly scrapping it. As Britain’s Daily Mail reports:

Two years on, with the tax due to expire at the end of this month, the mass emigration has not happened. But the damage to France’s appeal as a home for top earners has been great, and the pickings from the levy paltry.

‘The reform clearly damaged France’s reputation and competitiveness,’ said Jorg Stegemann, head of Kennedy Executive, an executive search firm based in France and Germany.

He added: ‘It clearly has become harder to attract international senior managers to come to France than it was.’

Reclaim Our Republic

taxes
December 24th, 2014 By: Jake (Diary)


France is providing us with a very good case study on what happens when you raise taxes too high. The 75% tax rate imposed upon the richest French residents* was a centerpiece of Socialist Francois Hollande’s campaign for the French Presidency. At any rate, having found out just what happens when you raise taxes to such draconian levels, the country is now quietly scrapping it. As Britain’s Daily Mail reports:

Two years on, with the tax due to expire at the end of this month, the mass emigration has not happened. But the damage to France’s appeal as a home for top earners has been great, and the pickings from the levy paltry.

‘The reform clearly damaged France’s reputation and competitiveness,’ said Jorg Stegemann, head of Kennedy Executive, an executive search firm based in France and Germany.

He added: ‘It clearly has become harder…

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