By BJ Bjornson
Do you all remember about a week or so ago, when Warren Buffet called for a special tax on the super-rich? And that Fox News quickly denounced this multi-billionaire financier as being a socialist? Well, we now have proof that Fox News was right. Some of those snooty French rich folks just made the same offer to their government to help deal with the deficit, and even worse, it appears that that pinko-commie Sarkozy is planning on taking them up on it! And to think he has the balls to call himself a conservative!
The French government is to impose an extra tax of 3% on annual income above 500,000 euros (�440,000; $721,000).
It is part of a package of measures to try to cut the country's deficit by 12bn euros over two years.
. . .
Sixteen executives, including Europe's richest woman, the L'Oreal heiress Liliane Bettencourt, had offered in an open letter to pay a "special contribution" in a spirit of "solidarity".
. . .
They said: "We, the presidents and leaders of industry, businessmen and women, bankers and wealthy citizens would like the richest people to have to pay a 'special contribution'."
They said they had benefited from the French system and that: "When the public finances deficit and the prospects of a worsening state debt threaten the future of France and Europe and when the government is asking everybody for solidarity, it seems necessary for us to contribute."
Can you imagine? It�s a wonder any of those French people managed to make so much money with their quaint ideas about how �shared sacrifice� actually applies to the super-rich as well as the poor. No fear however, the Republican Party will make sure such insanity never takes root in the U.S. The rich�s riches must be protected at all costs, after all.
The contrast is even more stark than meets the eye. The report I heard said that not only do the French pay a graduated tax, the rich are also assessed a "wealth tax" of about 3% of all assets ANNUALLY. (Compare with the US property tax, which in the US is not only designated for state and local revenue but is limited to actual real estate at whatever the "assessed value" happens to be -- a slippery and politically tainted process if ever one was contrived.)
ReplyDeleteImagine how loud the screams would be if anyone proposed even a one-time surtax on net worth above a certain amount. And the idea of a permanent tax of that nature would never pass the giggle test in Washington.