France is Totally Bankrupt
It started with Greece. Next the bankruptcy fingers started pointing at Portugal, Spain and Italy.
Today they are pointing at France?
What will happen to Europe if they start pointing at Germany?
France’s employment minister Michel Sapin has admitted the country is “totally bankrupt”.
The unexpected news came during a radio interview yesterday and is thought to have sent the country’s business leaders into a state of shock.
“There is a state but it is a totally bankrupt state,” Mr Sapin said. “That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective.”
Mr Sapin’s “totally bankrupt” statement is likely to cause huge embarrassment for President Francois Hollande, who will be left to undo the potential damage to his socialist government’s reputation.
It also calls into further question Hollande’s controversial “tax and spend” policies that have seen numerous entrepreneurs and high profile celebrities leave the country.
Among those who moved their wealth out of France are Hollywood star Gerard Depardieu and the country's richest man Bernard Arnault.
There are even reports that Nicolas Sarkozy, the previous President of France, is preparing to move to London with his wife Carla Bruni for economic reasons.
Here; http://www.independent.co.uk/news/world/europe/france-is-totally-bankrupt-french-jobs-minister-michel-sapin-embarrasses-francois-hollande-with-shocking-statement-on-state-of-the-countrys-economy-8471077.html
You see friends, in a FREE SOCIETY, people who are wealthy must be FREE to come and go as they choose.
What the liberal mind fails to grasp as their socialist Utopia's begin to crumble...is that the wealthy people will leave and take their wealth with them if you start taxing them at unreasonable levels.
What is that REASONABLE level? It's probably different in each location.
Rich people in California may be willing to pay MORE in taxes because they love living in California...so CA can charge higher taxes. But would rich people stay in North Dakota if that state started gouging them? Probably not.
In the same way, most rich people in America love living in America...but do you realize that thousands of wealthy folks are denouncing their U.S. citizenship every year and taking their wealth to other countries who don't gouge them?
Go ahead and Google it.
And if that trickle turns into a flood and wealth starts running to the exits...who then will be left to pay for all the services that the 47% of Americans love to collect?
Think about it.
We are already at a point in this country where the top 1% of wealthy folks are paying in almost half of the income taxes that are collected.
How much more can you gouge them?
It looks like France is finding that out the hard way...as the richest man in France has decided to pick up his checkers and go put them on someone else's board.
“There is a state but it is a totally bankrupt state,” Mr Sapin said. “That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective.”
Mr Sapin’s “totally bankrupt” statement is likely to cause huge embarrassment for President Francois Hollande, who will be left to undo the potential damage to his socialist government’s reputation.
It also calls into further question Hollande’s controversial “tax and spend” policies that have seen numerous entrepreneurs and high profile celebrities leave the country.
Among those who moved their wealth out of France are Hollywood star Gerard Depardieu and the country's richest man Bernard Arnault.
There are even reports that Nicolas Sarkozy, the previous President of France, is preparing to move to London with his wife Carla Bruni for economic reasons.
Here; http://www.independent.co.uk/news/world/europe/france-is-totally-bankrupt-french-jobs-minister-michel-sapin-embarrasses-francois-hollande-with-shocking-statement-on-state-of-the-countrys-economy-8471077.html
You see friends, in a FREE SOCIETY, people who are wealthy must be FREE to come and go as they choose.
What the liberal mind fails to grasp as their socialist Utopia's begin to crumble...is that the wealthy people will leave and take their wealth with them if you start taxing them at unreasonable levels.
What is that REASONABLE level? It's probably different in each location.
Rich people in California may be willing to pay MORE in taxes because they love living in California...so CA can charge higher taxes. But would rich people stay in North Dakota if that state started gouging them? Probably not.
In the same way, most rich people in America love living in America...but do you realize that thousands of wealthy folks are denouncing their U.S. citizenship every year and taking their wealth to other countries who don't gouge them?
Go ahead and Google it.
And if that trickle turns into a flood and wealth starts running to the exits...who then will be left to pay for all the services that the 47% of Americans love to collect?
Think about it.
We are already at a point in this country where the top 1% of wealthy folks are paying in almost half of the income taxes that are collected.
How much more can you gouge them?
It looks like France is finding that out the hard way...as the richest man in France has decided to pick up his checkers and go put them on someone else's board.
posted by dennis at
2:25 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home