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French President Hollande’s Plan to Tax Rich Touches Nerve

Posted on July 26th, 2012 at 5:03 by John Sinteur in category: News -- Write a comment

[Quote]:

At a recent press conference in Paris, Swedish soccer star Zlatan Ibrahimovic announced that a French team had signed him for about $17 million a year.

Soccer salaries often cause controversy, but Ibrahimovic’s created an instant scandal.

The next morning President Hollande had his deputy budget minister Jerome Cahuzac go on French radio, to denounce the record pay-out as indecent.

The French government’s reaction won’t just be indignation. If Hollande has his way, Ibrahimovic will get socked with a 75 percent income tax on his new mega-salary. Same goes for anyone earning more than about $1.2 million a year in France.

  1. Kharkov on July 26th, 2012 at 10:34:

    Oooh, I really, really hope Hollande gets that passed.

    Let’s hope it’s first of the dominoes…

  2. Jan-Mark on July 26th, 2012 at 11:05:

    Ok, I know higher tax for higher earners is good for the economy. But I do sincerely hope two things. First, that they do up the highest tax slot in all of the western worlds and second, that they do it gradually, evenly and without exemplifying. A knee-jerk response like this won’t do any good, except maybe for Hollande’s popularity (and even that I question). What Hollande does is not sound fiscal policy nor is it intended to be and he knows it. Why can’t they just appoint a technocrat like in Italy?

  3. Desiato on July 26th, 2012 at 12:20:

    It’s not a knee-jerk response by Hollande. The 75% tax on high incomes was in his election program.

  4. Sue W on July 26th, 2012 at 15:41:

    Now we’re down to the somewhat noisy and unpleasant (for them) business of eating the rich, the penultimate resource.

    Oh dear! You didn’t realize that they were fattening you up, all the while selling you posh shoes and hand bags?

  5. John Sinteur on July 26th, 2012 at 15:44:

    Let’s hope there’s enough chianti and fava beans to go around.

  6. Spaceman Spiff on July 26th, 2012 at 16:01:

    Poor fellow – he will only take home $4.25M a year… I could easily live in the style to which I would like to be accustomed on that kind of chump change! :-)

  7. Roland Hesz on July 26th, 2012 at 20:36:

    According to economy, fiscal policies has no effect whatsoever, so I don’t see much economical problem with it :)

    On the other hand I am still a fan of 1) flat rate tax, 2) sensible payments.

  8. Andre on July 26th, 2012 at 23:10:

    If you have that much money you (can spend it on experts to regulate it in a way that you) don’t have to pay taxes.

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