abolish tax breaks, boost taxes on rich
Pay attention this is how it works.
French lawmakers Thursday backed a series of measures abolishing tax breaks and taxing the wealthy as the new Socialist government pursued efforts to kickstart the economy with a tax-and-spend programme.
Lawmakers later voted to back an emergency rise in the ISF wealth tax applying to taxpayers with a net worth of more than 1.3 million euros ($1.6 million) and which is expected to bring in an extra 2.3 billion euros in revenues this year.
How dare they actually side with the people! Heh the government made promises and this is how you back those promises
Frog version; Get control and say something that sounds good to the masses. Have it reported around the world that you're a stand up bunch...blah,blah,blah...
France has made commitments to the European Union to reduce its budget deficit from 5.2 percent of GDP last year to 4.5 percent this year, aiming to get down to the EU limit of three percent in 2013 and to balance the budget in 2017.
Oh sorry it's still austerity just in different language.
The government is hoping that investment in infrastructure and job creation will reboot France’s stagnant economy, which is expected to have suffered a slight contraction in the second quarter.
Meh not such a hard line after all. American reporters think and report this is drastic when in reality these are half measures being taken and only accepted when your paying off the hostage takers. France has no choice but to act as if they are "taking measures". If capitalism worked as it's advertised we all would eat well tonight.
Comments
Tell me I'm reading this wrong
please. I know they are taking steps I just want them in one of those steps put their foot on the throat of the bullies that are demanding deference from all nations. I'm looking at you Germany, Britain and the U.S.
Good news and bad news. The EU just doesn't get it.
France is part of the Economic and Monetary Union (EMU) and is tied to the euro, so they are at the whims of what the members(mainly Germany) and the European Central Bank(a pathological central bank scared of hyperinflation that doesn't have a perceivable chance to exist) preventing them from creating digitally and printing money in order to pay creditors and ease their risk of default. So France has to balance its budget at some point, but not off the backs of the poor like Greece and Spain seem to be doing and it doesn't seem like the case as of yet in France.
So under the circumstances France seems to be on their way to taxing the wealthy and spending and investing in infrastructure to cure their debt woes, since they can't monetize their debt. That's why electing a socialist president seems to be worthy so far for France.
But the European union is going to keep having problems with no national fiscal authority over these countries in tandem with their monetary authority such as we have, Japan, Denmark, and the UK to make the right spending and investment decisions to ease post WWII tensions all around as well as other historical grudges governments hold against other governments as well as just a flawed framework altogether for the reasons mentioned.
Unlike Spain France has a lot of fat in their War Budget
France can (and should) cut their military budget before they cut their social budgets. Spain does not have that same luxury. The powers that be really want to save the Euro but economically it has been severely damaged by the international crimes of the banking industry. Now, it can only be saved by cutting the budgetary items designed to help the poor/middle class. The Euro needs to be a casualty of the banksters and the countries in the EU need to return to their own national currencies.