France | Socialist maneuver with the rich also crying

France | Socialist maneuver with the rich also crying
0 comments, 11/01/2014, by , in Debt, Economy, Real Estate, Taxes

The rich also cry or weep better in France where the more affluent families are invited to participate with the decision to maneuver fiscal consolidation to reduce the weight of the deficit relative to gross domestic product. The socialist government led by Ayrault has approved a budget package of almost €40 billion with the deficit which just returns within 3% of GDP with the help primarily of the richest and enterprises and a reduction in public spending. In theory, according to the Socialists, only one out of ten French will pay more after this intervention.

Aside from the $4.4 billion already provided for by the intervention of July and 2.5 billion in cuts to health care spending, the remaining €30 billion will be divided between citizens and the state. $10 billion in higher taxes on the rich, 10 billion by businesses and 10 of cuts in public spending, excluding education and security. Citizens with an income superior of 150 thousand Euros will experience a new rate of 45% and will enter into force on the special tax of 75% on incomes over one million euro affecting the rates of assets and liabilities, for those who have more than 1.3 million in real estate and securities.

Calendar - Tax Day Circled

Calendar – Tax Day Circled

For public spending cuts will apply to agriculture (-7.3%), culture (-3.6%), Ecology (-2%), with the cut of 12 thousand 298 employees. Less support for businesses and new rules for corporation tax with the increase in advances and lower deductions for accumulated deficits.

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