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davidg

Peak Tax

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France' socialist government is about to be hit by peak tax; this on top of a deflationary cycle (prices dropped 0.3% in July) and a moribund economy with growth close to zero. To cap it all the summer has been dreadful and workers will start the traditional autumn strike season in a bad mood.

Talking of socialism the government has certainly made the tax base more equal; bringing another 2 million low paid people into the system where you pay taxes at the end of the tax year rather than the PAYE system used in the UK. Last year 1.2 million people told the revenue service they couldn't pay their tax demand, an increase of 22% over 2 years, this figure looks to be sharply higher in 2014 just as the tax take is squeezed by a stagnant economy.

Millionaire and serial tax cheat President Hollande famously declared that he "hated the rich" and promised to tax them until the pips squeaked during his election campaign. Unfortunately the rich didn't stick around long enough choosing to exile themselves in Switzerland, Belgium and Hong Kong amongst other destinations. This has caused a house price crash in the luxury end of the Parisian property market.

To compound his woes Hollande has been treated to pictures of his mistress, Julet Gayette, snogging a lawyer on the beach this summer.

Edited by davidg

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France' socialist government is about to be hit by peak tax; this on top of a deflationary cycle (prices dropped 0.3% in July) and a moribund economy with growth close to zero. To cap it all the summer has been dreadful and workers will start the traditional autumn strike season in a bad mood.

Talking of socialism the government has certainly made the tax base more equal; bringing another 2 million low paid people into the system where you pay taxes at the end of the tax year rather than the PAYE system used in the UK. Last year 1.2 million people told the revenue service they couldn't pay their tax demand, an increase of 22% over 2 years, this figure looks to be sharply higher in 2014 just as the tax take is squeezed by a stagnant economy.

I posted elsewhere recent;y that I calculate the the British government + the banks + utilitiy companies are helping themselves to 90% of british peoples incomes.

If that's not peak tax here too I dunno what is.

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I posted elsewhere recent;y that I calculate the the British government + the banks + utilitiy companies are helping themselves to 90% of british peoples incomes.

If that's not peak tax here too I dunno what is.

Indeed. The British governbankment + the nationalised banks + the quasi-nationalised utiity companies. A right old carve up.

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France' socialist government is about to be hit by peak tax; this on top of a deflationary cycle (prices dropped 0.3% in July) and a moribund economy with growth close to zero. To cap it all the summer has been dreadful and workers will start the traditional autumn strike season in a bad mood.

Talking of socialism the government has certainly made the tax base more equal; bringing another 2 million low paid people into the system where you pay taxes at the end of the tax year rather than the PAYE system used in the UK. Last year 1.2 million people told the revenue service they couldn't pay their tax demand, an increase of 22% over 2 years, this figure looks to be sharply higher in 2014 just as the tax take is squeezed by a stagnant economy.

Millionaire and serial tax cheat President Hollande famously declared that he "hated the rich" and promised to tax them until the pips squeaked during his election campaign. Unfortunately the rich didn't stick around long enough choosing to exile themselves in Switzerland, Belgium and Hong Kong amongst other destinations. This has caused a house price crash in the luxury end of the Parisian property market.

To compound his woes Hollande has been treated to pictures of his mistress, Julet Gayette, snogging a lawyer on the beach this summer.

Good stuff, when things are getting you down you don't have to go very far to find a country in a much MUCH worse state than our own green and pleasant land!

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Hollande's 'Experience Sociale' is indeed floundering. A belief that you can grow an economy by protecting vested interests in the public sector and have a ready source of rich people to soak to pay for the experiment. There again we aren't much better with a 7% structural deficit ourselves....and we call that austerity.

http://www.telegraph.co.uk/finance/economics/11023496/Lagging-France-is-threat-to-eurozone.html

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  • 407 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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