You must Publish this diary to make this visible to the public,
or click 'Edit Diary' to make further changes first.
Posting a Diary Entry
Daily Kos welcomes blog articles from readers, known as diaries. The Intro section to a diary should be about three paragraphs long, and is required. The body section is optional, as
is the poll, which can have 1 to 15 choices. Descriptive tags are also required to help others find your diary by subject; please don't use "cute" tags.
When you're ready, scroll down below the tags and click Save & Preview. You can edit your diary after it's published by clicking Edit Diary. Polls cannot be edited once they are published.
If this is your first time creating a Diary since the Ajax upgrade, before you enter any text below, please press Ctrl-F5 and then hold down the Shift Key and press your browser's Reload button to refresh its cache with the new script files.
ATTENTION: READ THE RULES.
One diary daily maximum.
Substantive diaries only. If you don't have at least three solid, original paragraphs, you should probably post a comment in an Open Thread.
No repetitive diaries. Take a moment to ensure your topic hasn't been blogged (you can search for Stories and Diaries
that already cover this topic), though fresh original analysis is always welcome.
Use the "Body" textbox if your diary entry is longer than three paragraphs.
Any images in your posts must be hosted by an approved image hosting service (one of: imageshack.us, photobucket.com, flickr.com, smugmug.com, allyoucanupload.com, picturetrail.com, mac.com, webshots.com, editgrid.com).
Copying and pasting entire copyrighted works is prohibited. If you do quote something, keep it brief, always provide a link to the original source, and use the <blockquote> tags to clearly identify the quoted material. Violating this rule is grounds for immediate banning.
Be civil. Do not "call out" other users by name in diary titles. Do not use profanity in diary titles. Don't write diaries whose main purpose is to deliberately inflame.
During the French election (now) President Hollande presented a plan to cut the budget deficit. Part of the plan was raising taxes on those earning more than EUR 1 million per year (~ $ 1.3 million per year) to 75%.see Article at the Economist Including other levies the top marginal tax rate will be more than 90%. see Article at the Economist
After the elections a funny thing happened: President Hollande followed through with his plan. With a strong majority in parliament (see Wikipedia article) getting the neccessary change to the tax code was no problem. A first version of the necessary law was ruled unconstitutional by the French Supreme Court (see Article) because it fails to guarantee taxpayer equality. The questions raised by the French Supreme Court are widely seen to be solvable. A second version of the law is expected to be passed sooner rather than later.
Predictably some tax payers are having none of it and move to French speaking parts of Belgium where top tax rates are a mere 50% (see Article)
One of the more famous Frenchmen is going full circle after stating that he has paid EUR 145 million in taxes over the last 45 years and is employing 80 people (see Article) he has decided to renounce his citizenship. A few days later Russia's Vladimir Putin offered the citizenship of the Russian Federation to Depardieu. Depardieu has accepted (and now apperently loves Russia and Putin see Article ), travelled to Sotschi and fetched his passport after meeting Vladimir Putin.
Depardieu will now pay a 13% flat tax on his income.
For all those job creators devastated by recent tax hikes there may be a great opportunity:
Go all the way and move to North Korea. They have abolished all taxes in 1974 (see Wikipedia). You can find highly qualified, loyal and motivated personnel there. And they will not not abandon their positions for higher salaries once they are trained (http://www.korea-dpr.com/...).