Google it Posted May 15, 2012 Share Posted May 15, 2012 Francois Hollande is the new French President. He has vowed to move away from cuts and austerity and spend the France's way out of recession. This is pretty much the solution proposed by Labour in the UK. Will the change of direction lead to fast growth in the economy or will the increased spending lead to a downgrading of the French credit rating and a masssive increase in French repayment interest? I think I expect the latter. Maybe at best the rich will get richer a little slower. Link to comment Share on other sites More sharing options...
puisseguin Posted May 15, 2012 Author Share Posted May 15, 2012 Will this really happen? I can understand wealthier folk leaving their country for life-threatening reasons such as civil war, but not simply because they're going to have to pay higher taxes? I think it's an empty threat. Of course it happens. You only need to look to the UK's Premier League to see that 90% of players live abroad for tax purposes. There are very many business that can move from one country to another as quickly as you can unplug a few computers. If your tax bill i about to go up a few million Euros why would you want to stay. Link to comment Share on other sites More sharing options...
Mecky Posted May 15, 2012 Share Posted May 15, 2012 No, but many wealthier French will race over to live in the UK. Do you have any proof of that? Link to comment Share on other sites More sharing options...
Mecky Posted May 15, 2012 Share Posted May 15, 2012 In the short term France will probably do OK and other countries will think it's OK to follow suit. That'll rile up the Germans. (never a good idea) But, in the long term as the debts mount up and the tax revenues dry up they'll struggle. They could lose their credit rating pushing up borrowing costs and meaning higher interest rates. The French are not known for tolerating incompetent politicians so expect trouble on the streets sooner or later. The problem for the UK will be Millibrain and Balls crowing about how well France is doing in the short term and the drones wanting to believe them. or people just desperate for them to fail at any cost Link to comment Share on other sites More sharing options...
andygardener Posted May 15, 2012 Share Posted May 15, 2012 Do you have any proof of that? When i linked to an article with detailed sources suggesting it is already happening as I recall it got dismissed as it was from the Telegraph and therefore in the minds of the far left must be untrue. Link to comment Share on other sites More sharing options...
Mecky Posted May 15, 2012 Share Posted May 15, 2012 When i linked to an article with detailed sources suggesting it is already happening as I recall it got dismissed as it was from the Telegraph and therefore in the minds of the far left must be untrue. No, you tried to link people people from socialist countries buying property in London. Lost of people from around the world live in London, not just people from socialist countries. Besides, how long have the socialists been in government in France? Just over a week, people haven't even had time to blink yet nevermind buy houses in London. Link to comment Share on other sites More sharing options...
andygardener Posted May 15, 2012 Share Posted May 15, 2012 No, you tried to link people people from socialist countries buying property in London. Lost of people from around the world live in London, not just people from socialist countries. Besides, how long have the socialists been in government in France? Just over a week, people haven't even had time to blink yet nevermind buy houses in London. The article and my comments were specific to France, you've just made "socialist countries" up. Hollandes potential victory has been on the cards for a while, people with millions at stake can move very quickly, hence the article was quoting actual increases in French interest in the London property market rather than your random asertion that blinking takes a week. People can choose which they find more convincing. Link to comment Share on other sites More sharing options...
Magnese Posted May 15, 2012 Share Posted May 15, 2012 All that will happen in France is that the socialist government will make the rich pay. In England our tory government will make the poor and middle classes pay. Link to comment Share on other sites More sharing options...
andygardener Posted May 15, 2012 Share Posted May 15, 2012 All that will happen in France is that the socialist government will make the rich pay. In England our tory government will make the poor and middle classes pay. Even in much less globalised times tax rates over 50% have always led to reduced tax takes, 75% is ridiculous, especially when you have the UK a couple of dozen miles away with a tax rate that is 30% lower. The rich will pay, they will pay handsomely, but they will pay to the UK, not France. Link to comment Share on other sites More sharing options...
Magnese Posted May 15, 2012 Share Posted May 15, 2012 Even in much less globalised times tax rates over 50% have always led to reduced tax takes, 75% is ridiculous, especially when you have the UK a couple of dozen miles away with a tax rate that is 30% lower. The rich will pay, they will pay handsomely, but they will pay to the UK, not France. French people will not move here. Link to comment Share on other sites More sharing options...
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