Chart usGOLD   Chart usSILVER  
 
Food for thought
There is no calamity greater than lavish desires. There is no greater guilt than discontent. And there is no greater disaster than greed
Lao Tseu  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1244.053.05
Silver 17.240.10
Platinum 1260.705.60
Palladium 768.252.95
WORLD MARKETS
DOWJONES 16461-154
NASDAQ 4383-37
NIKKEI 15111-85
ASX 5370-3
CAC 40 410524
DAX 894053
HUI 185-6
XAU 76-3
CURRENCIES (€)
AUS $ 1.4431
CAN $ 1.4232
US $ 1.2646
GBP (£) 0.7876
Sw Fr 1.2065
YEN 135.6270
CURRENCIES ($)
AUS $ 1.1413
CAN $ 1.1253
Euro 0.7908
GBP (£) 0.6229
Sw Fr 0.9540
YEN 107.2460
RATIOS & INDEXES
Gold / Silver72.16
Gold / Oil15.25
Dowjones / Gold13.23
COMMODITIES
Copper 3.03-0.01
WTI Oil 81.58-0.38
Nat. Gas 3.69-0.02
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
In the same category
Socialists Denounce French Actors Leaving France for Tax Purposes; California vs. France
Published : December 17th, 2012
626 words - Reading time : 1 - 2 minutes
( 6 votes, 2.8/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

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
Tweet
Rate :Average note :2.8 (6 votes)View Top rated
Previous article by
Mish
All articles by
Mish
Next article by
Mish
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Mish

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
Mish ArchiveWebsiteSubscribe to his services
Most recent articles by Mish
10/22/2014
10/22/2014
10/22/2014
10/22/2014
10/21/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer