Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in
In the same category

Socialists Denounce French Actors Leaving France for Tax Purposes; California vs. France

IMG Auteur
Published : December 17th, 2012
626 words - Reading time : 1 - 2 minutes
( 6 votes, 2.8/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Editorials

 

 

 

 

According to Socialist newspapers and politicians “to pay a tax is an act of solidarity, a patriotic act.” Those leaving France because of its uncompetitive tax rate see things differently.

Please consider Socialists Denounce Gérard Depardieu for Leaving France

Gérard Depardieu, one of France’s best-known actors, has been accused by the country’s Socialist government of lacking patriotism after he moved to Belgium apparently in a bid to avoid the taxes for which France is also renowned.

On Wednesday, Prime Minister Jean-Marc Ayrault weighed in, calling Mr. Depardieu’s choice “rather pathetic.”

“He’s a great star, everyone loves him as an artist,” Mr. Ayrault told the France 2 television channel on Wednesday, but “to pay a tax is an act of solidarity, a patriotic act.”

To reduce the budget deficit and the country’s debt, Mr. Hollande has put in place a 75 percent marginal tax rate for incomes above 1 million euros, or $1.3 million — a largely symbolic measure that will affect only a few thousand individuals, he has said — and has announced additional taxes that are expected to raise 20 billion euros next year.

Residents [in Belgium] pay no wealth tax and no capital gains tax on stock sales. In France, residents are required to pay a 0.25 percent wealth tax on assets valued at more than 1.3 million euros; those with more than 3 million euros in assets pay twice that.

Mr. Depardieu will by no means be the only Frenchman in Néchin, where he has reportedly bought a home. Néchin’s mayor, Daniel Senesael, told the French news media that 27 percent of residents are French.

Bernard Arnault, the billionaire chief executive of the luxury group LVMH, was pilloried in the news media in September when it was revealed that he had requested Belgian citizenship.

Mr. Arnault said the request was not for tax purposes, but the left-leaning newspaper Libération featured a front-page headline that read, in polite translation, “Beat it, rich jerk!” (LVMH promptly pulled its advertising from the newspaper and Mr. Arnault filed a lawsuit charging the paper with public insult.)

On Tuesday, the newspaper featured Mr. Depardieu on its front page, along with an editorial deploring his “absence of moral sense” and insisting that the flight of the rich represents “a danger for democracy and solidarity.”


California vs. France

California citizens have renewed reason to vote with their feet following massive tax hikes approved in the November elections. For a synopsis, please see
Taxifornia Lessons.

In case you missed it, the Bloomberg report
$822,000 Worker Shows California Leads U.S. Pay Giveaway is a stunning, must see article on where those tax hikes will go (and it's not for the kids).

The article is well worth a read in entirety, so I offer no snips.

Patriotic to Pay Excess Taxes?

Is it a sign of solidarity or stupidity to pay more taxes than necessary? Is it an act of patriotism to do something you disagree with or is the real act of patriotism to protest?

While there may be other reasons influencing people's decisions to leave or stay, paying excess taxes for the sake of solidarity is complete nonsense.

By the way, for all his bitching and moaning, Warren Buffet does not pay excess taxes either. In his case, since he feels so strongly about this, perhaps the patriotic thing for him to do would be to voluntarily pay extra taxes to write down the federal debt.

In the case of California and France, the logical thing for taxpayers to do is "leave if you can", and there is nothing at all unpatriotic about such decisions. Indeed, for those who feel strongly that tax hikes are not the way to go, leaving in protest may actually be the patriotic thing to do.


 

 

Thanks to Mish from .
Data and Statistics for these countries : Belgium | France | All
Gold and Silver Prices for these countries : Belgium | France | All
<< Previous article
Rate :Average :2.8 (6 votes)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Sick Market Moves While Gold Rem...
16:27sneezy67
Oh..... the agony and many pains it must be as a financial analyst (prognosticator ?)
Chinese Copper Elephant
21 Decovertheedge
If some of the central African countries, such as Nigeria, get their politico-economic acts together, then increased demand for base metals, especi...
41 Facts about Central Banks no ...
20 Decprljr
Common sense and logic dictate that if this was taught in schools it would not exist as it has these past 100 yrs. The monetary system is a CON a L...
41 Facts about Central Banks no ...
19 Decsamking73
I'm not sure that much was taught about the central banking system back when I was in school...25 + years ago. At least not the important parts.
Gold & Silver Market Morning
19 Decend
If you trade XAU/RUB and have bought XAU using RUB, you should have closed your position as he advised. Then you should have switched, buying gold ...
Muslim terrorism, the left and t...
19 DecFirebear1
All please understand this person was a Muslim,that was his believe! His character was that of a criminal as was shown by his action on the day and...
Napoleon vs. Cheney: "Interrogat...
18 Decwalmarde
Torture just put the moral line lower. Lets think about American exceptionalism. What we want ? we want to spread and defend that exceptio...
Napoleon vs. Cheney: "Interrogat...
18 Decwalmarde
Utilitarianism is bad philosphy. I'm also very disgust about torture. It will backfire in our face. We are now no better than ou...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.