French luxury billionaire sparks tax debate with threat to leave

quote: There is growing anger" in corporate France towards the government's fiscal choices.

Whilst the ordinary citizens, seeing everything cost so much more, would like to recycle these whiney rich people into dog food with a giant mincing machine.

The rich folks of the nation famous for its revolution and Madame Guillotine may well have cause to leave for the US soon, taking their scented water, handbags and shiny trinkets with them. I doubt they will be missed.

Europe generally seems to be in decline. Even capitalist countries such as the UK are in the deep pits of decline. Increasing taxes might be able to reduce debt burden but how will it solve decline?

That simply balances out over time. Let's assume he really moves to US. That will cause moving costs and require massive new investments , maybe a multiple of the 40%-15% difference. And other things will happen, economy in France down a bit , so they cannot buy his luxury goods anymore and also imports from US down, same reason. That leads to general downward trend in US too, so people there also buy less of his luxury goods and maybe even later the US taxes have to been raised a bit. You see, finally it is about a nearly similar result for his luxury goods conglomerate.

what a great story, I laughed and laughed.

"Some of the main company bosses in France are drifting to the far right," Coquerel said. 

So, if you don’t want to pay nose bleed tax rates, you are “far right”?

I was previously resigned to being “far right”, but now I can proudly declare that I am “far right”.

He accused Arnault of touting Musk as "a role model" even after the Tesla boss's arm gesture at Trump's inauguration that Coquerel called a "fascist salute".

lol!

If confirmed, the new tax will concern 440 companies in France generating more than one billion euros of sales, with the highest rate -- 41.2 percent -- targeting those with turnover of more than three billion euros.

Well I don’t have any direct ownership of French stocks but if I did they would be sold immediately if I saw this.

Lombard rejected the suggestion that the levy would hurt "the attractiveness" of France for business. "We want companies to invest, and foreign investors to come here," he said.

Get with the program!

If you hike the tax rates, you stand a good chance to drive away business and lose tax revenues as a result, even though you get more revenue per euro earned.

This is more probable the higher those tax rates are. If you had a tax rate of 1% and doubled it to 2%, ok you’ll probably get more tax revenue because the rate is still low. But at double digit tax rates, nears half of your profits, what the heck does this moron think people are gonna do?

The government hopes to cut the public sector deficit to 5.4 percent this year, from around six percent in 2024, by combining tax rises and spending cuts totalling around 50 billion euros.

Cutting spending yes but hiking tax rates may lower revenues, crazy man.

Perhaps if they leave they should be prohibited from owning property in France. That would hit them harder.

quote: If you hike the tax rates, you stand a good chance to drive away business and lose tax revenues as a result.

Tell Trump.

Tariffs are taxes. Consumers always end up paying them to their government, as they are passed on through the system.

Reciprocal tariffs are also taxes, including those from politicians who told their citizens that they were a bad idea, and then went ahead and levied them anyway, in response.

Courtesy of Trump and then Canada/Mexico reciprocating, the citizens of the US, Canada and Mexico are all now paying more tariffs [= taxes] to their governments.

Warren buffet has always said he should be taxed more .And he knows a thing or two about money

He got the government of France to try to get him out of the Tiffanys deal, but when it comes time to pay tax to the same government, he flinches and threatens?