||"A historical political resource."
French Socialists: We Can't Tax Our Citizens Anymore
|Last Edited||Scott³ Aug 23, 2013 04:05pm|
|News Date||Friday, August 23, 2013 10:00:00 PM UTC0:0|
|Description||"Tax rates have risen so high and so often in recent years in France that even socialist ministers are urging the president (an avowed socialist himself, natch) to reconsider his tax-and-spend policies. Oh, the irony! |
The Telegraph reports:
Returning from their summer break, the French are about to discover stinging rises in tax bills in their letter boxes – the result of a series of new levies enacted by President François Hollande as he seeks to plug the French deficit and bring down public debt – now riding at 92 per cent of GDP.
But the extent of the hikes has apparently even shocked the very Socialist ministers who implemented them.
The total tax pressure (taxes and social security contributions) will account for 46.3 per cent of GDP this year – a historic high – compared to 45 per cent in 2012.
Some 16 million households will see an automatic 2 per cent rise in income tax as calculations are no longer mitigated by inflation. Family tax breaks will be cut."
|Article||Read Full Article|