Jump to content
House Price Crash Forum
Sign in to follow this  
davidg

Peak Tax

Recommended Posts

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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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!

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   206 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.