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  1. #11
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    Quote Originally Posted by Rudy Tamasz
    Is it good or bad for Europe? I'm slightly confused. His program sure sounds attractive to a lot of people. One thing I don't understand though, is how he's gonna bankroll his social programs, job creation etc.
    I suggest we all wish good luck, lots of it to the French people especially to those who voted this guy.
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  2. #12
    Senior Member Rollo's Avatar
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    Quote Originally Posted by Rudy Tamasz
    No austerity, fine. Who will foot the bill?

    To keep living a high life you have two options. One is the inflationist model where you stimulate growth through consumption. But this is exactly the model that has been in place for the last twenty years or so and brought European economies to the brink of collapse. Using it to fix the economy is like using a shot of heroine to cure a drug addiction. Another option is to tax the heck out of the wealthier. That is, if you catch them before they board their private jets and land for good in numerous tax havens around the world. I honestly don't see economies can become healthier without austerity measures.
    Another option would be to make the taxation system more efficient at doing what it's supposed to.

    During the debates on France 2, Hollande said that he'd merge Income Tax and the General Social Contribution. The top rate is to be shifted from 41% to 45% but there's also supposed to be an increase in the exempt threshold. He's also suggested that he intends to abolish the Impôt de Solidarité sur la Fortune (ISF); as I understand it, the ISF is a direct wealth tax on people who hold more than €800K in assets. The idea being to stop the rich leaving the system altogether.
    A whole raft of taxation policies and removing the loopholes which exist, are supposed to colletively bring in €29b, which would be more than the money he intends to spend.

    I see Hollande as moving France back towards a Chirac style presidency, and you need to remember that Chirac from 2002 was able to achieve net government surpluses and France established a net positive Balance of Payments.

    For a "socialist" President, it's odd that Le Figaro maintained a neutral stance about him.
    The Old Republic was a stupidly run organisation which deserved to be taken over. All Hail Palpatine!

  3. #13
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    Looks to me the french had the classical political choice between the dumb and the dumber... The tricky part is figuring which is which. I hope for the sake of Europe and France most of the things he promised are just the typical socialist bull$h1t that we'll soon be forgotten when facing the reality.

  4. #14
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    Quote Originally Posted by Rollo
    During the debates on France 2, Hollande said that he'd merge Income Tax and the General Social Contribution. The top rate is to be shifted from 41% to 45% but there's also supposed to be an increase in the exempt threshold. He's also suggested that he intends to abolish the Impôt de Solidarité sur la Fortune (ISF); as I understand it, the ISF is a direct wealth tax on people who hold more than €800K in assets. The idea being to stop the rich leaving the system altogether.
    A whole raft of taxation policies and removing the loopholes which exist, are supposed to colletively bring in €29b, which would be more than the money he intends to spend.
    Interesting stuff. Would be good if he delivered on it. The asset tax was a ridiculous idea that guaranteed that high value items would be exported out of the country, I'm glad thats gone.

  5. #15
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    When I tour the Muslim wineries is South France will my girlfriend have to wear a Burka??
    Obama to Biden - "Let the Welfare checks rain upon the Earth - I am going to a barbecue"

  6. #16
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    Quote Originally Posted by Roamy
    When I tour the Muslim wineries is South France will my girlfriend have to wear a Burka??
    Just let the air out of her and stuff her in your rucksack.
    Useful F1 Twitter thingy: http://goo.gl/6PO1u

  7. #17
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    How long will the Euro survive now? Or can it really survive another 5 years ?I see many country,s going back to their own currencies before long !

  8. #18
    Senior Member Rudy Tamasz's Avatar
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    Quote Originally Posted by Rollo
    Another option would be to make the taxation system more efficient at doing what it's supposed to.

    During the debates on France 2, Hollande said that he'd merge Income Tax and the General Social Contribution. The top rate is to be shifted from 41% to 45% but there's also supposed to be an increase in the exempt threshold. He's also suggested that he intends to abolish the Impôt de Solidarité sur la Fortune (ISF); as I understand it, the ISF is a direct wealth tax on people who hold more than €800K in assets. The idea being to stop the rich leaving the system altogether.
    A whole raft of taxation policies and removing the loopholes which exist, are supposed to colletively bring in €29b, which would be more than the money he intends to spend.

    I see Hollande as moving France back towards a Chirac style presidency, and you need to remember that Chirac from 2002 was able to achieve net government surpluses and France established a net positive Balance of Payments.

    For a "socialist" President, it's odd that Le Figaro maintained a neutral stance about him.
    Might be a reasonable strategy.
    Llibertat

  9. #19
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    Quote Originally Posted by driveace
    How long will the Euro survive now? Or can it really survive another 5 years ?I see many country,s going back to their own currencies before long !
    How does that impact your life?
    Michael Schumacher The Best Ever F1 Driver
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  10. #20
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    Quote Originally Posted by ioan
    I suggest we all wish good luck, lots of it to the French people especially to those who voted this guy.
    Yes, I love Hollande!

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