Vive le…. TAX?
The French Socialist government confirmed a 75% tax rate for top earners and a new 45% ‘band’ for revenues over 150,000 euros.
Businesses are targeted as well. Loan interest tax deductions have been reduced and a capital gains tax break has been eliminated. These respective cuts have taken €4 and €2 BILLION out of the hands of business and placed them into government coffers.
“France is sick because of the model it has … but is choosing to preserve it.” says Guillaume Cairou, Head of the Entrepreneurs Club.
I know it is fashionable to preach more taxes for the rich, but as a business owner providing jobs to the economy, what motivation do I have to business in France and pay such high taxes? Rather move my production facilities to Vietnam or Bangladesh where my overheads are cheaper
There is no sense whatsoever in a 75% tax rate, this will push business owners out of France.