France's richest say: Tax us more


Liliane Bettencourt during a TV interview on 14 July 2010 Liliane Bettencourt is among those offering up some of her wealth

Some of France's wealthiest people have called on the government to tackle its deficit by raising taxes - on the rich.

Sixteen executives, including Europe's richest woman, the L'Oreal heiress Liliane Bettencourt, offered in an open letter to pay a "special contribution" in a spirit of "solidarity".

Later the government is due to announce tighter fiscal measures as it seeks to reassure markets and curb the deficit.

They are expected to include a special tax on the super-rich.

Before the announcement, expected on Wednesday evening, a letter appeared on the website of the French magazine Le Nouvel Observateur.

It was signed by some of France's most high-profile chief executives, including Christophe de Margerie of oil firm Total, Frederic Oudea of bank Societe Generale, and Air France's Jean-Cyril Spinetta.

They said: "We, the presidents and leaders of industry, businessmen and women, bankers and wealthy citizens would like the richest people to have to pay a 'special contribution'."

They said they had benefited from the French system and that: "When the public finances deficit and the prospects of a worsening state debt threaten the future of France and Europe and when the government is asking everybody for solidarity, it seems necessary for us to contribute."

They warned, however, that the contribution should not be so severe that it would provoke an exodus of the rich or increased tax avoidance.

The move follows a call by US billionaire investor Warren Buffett for higher taxes on the American ultra-rich.

The French government has already said it is working on a special tax on those earning more than 1m euros (£900,000) a year.

The measures are expected to be part of a new package aimed at cutting up to 14bn euros from the budget deficit over the next two years.

It is not clear exactly what form they will take, but they are expected to include a reduction in tax breaks and increased taxes on big companies.

The government has been forced to act after recent fears that France's AAA credit rating could be downgraded

Comments

Post a Comment

Popular posts from this blog

Ya better watch out, Ya better not pout....

Image
Driving down the road to Kingsville the other day, my beloved Val seemed quite unsettled about the fact that we were, soon, passing by her 40th birthday and zooming in on Xmas and there was no snow to be seen anywhere in our neighbourhood. Now, that really is not all that unusual in our neck of the woods, but she seemed right agitated. Never really gave it much tought, but, while in Montreal this week, I snapped a pic from my hotel window towards Westmount, and, "loe and behold" it is December 17 and ne'er a flake to be seen. Have a peek, see? It occurred to me , as well, I called my folks in Winnipeg a few days ago, and they reported the weatherman was forecasting rain. RAIN.........RAIN. Be still my heart, well Santa really has arrived, when folks in Winnipeg are not freezing their butts off in December. Or has he??? Can you beleive that? Now I dont recall the last time I did not have a white Xmas, but I do want one. It just dont seem Kosher to have Xmas without snow
Read more

Does health insurance satisfy Investors or Customers (patients)?

Image
I just cannot imagine Canadian politics ever getting as entertaining, nor as ugly, as US governance. Have you caught any of these town hall meetings on health care? I would have never believed people would get so covertly hoodwinked in believing free medical services sponsored by democratic administrations are an infringement of liberty and freedom. The hostility reminds me of my experiences in Union halls filled with angry workers at negotiation time, revving up their emotions to strike an employer, who has been brutally denigrating their work lives and workplaces.......when its for free health care, in terms of the benefits for all Americans in renewing the value of all the money that is appropriated within the insurance industries interests. I heard an sample of an media clip on a US radio, with a supposedly Canadian terminally ill patient pleading she had to wait 6 months for ANY MEDICAL ATTENTION. As a Canadian, I have never waited 6 months for any medical attention including the
Read more

Killer food at Big Boys on I-75 in Monroe County

Image
How have you been? The week went fast for me since my last post. The week was filled with visiting with my buddy from Vancouver, as I reported in my last post, after he dried out. We did some touring so Gerry could get an idea about the county of Essex and we spent one day in Windsor and stopped by the Thunder Road Harley Davidson dealer and the Caesar's Casino for a spell. With my beloved Val's help, I walked away with a $2.40 (she doubled my $1.20 jackpot..LOL) windfall from the penny machines. I had wished for a week of good weather to compensate for the wash-out our guest had been welcomed with on his ride through Detroit, and my wishes were answered for the most part. Gerry is not much of a "yard-bird" but we had good enough weather for patio lounging everyday for Val and I, in the morning, while Da Gar performed his "rituals" (the term Gerry uses to refer to his computer antics). He routinely surfs the websites that his gamer tendencies insist, and sha
Read more