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France's run at socialism ends.
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 2014-01-16 7:33 AM |
 Subject: France's run at socialism ends.http://www.chicagotribune.com/news/opinion/editorials/ct-hollande-f... He was elected in 2012 on a promise to protect government social spending and the nation's workers by punishing businesses that closed plants and taxing the most successful citizens. A member of Hollande's Cabinet told steelmaker ArcelorMittal that if it didn't protect jobs, its plant in northern France would be nationalized. Hollande's persistent push for a 75 percent tax on incomes above 1 million euros won court approval last month. He made scant efforts to deal with France's soaring public debt and notoriously uncompetitive business environment. And what has happened in France? Foreign investment has dried up. Unemployment has hit a 16-year high, more than twice the rate of Germany. Consumer spending and economic growth have stalled. I hope people in the US pay attention to this but I doubt it. |
| 2014-01-16 8:14 AM in reply to: DanielG |
Expert  1121   Menomonee Falls, WI | Subject: RE: France's run at socialism ends. Originally posted by DanielG http://www.chicagotribune.com/news/opinion/editorials/ct-hollande-f... He was elected in 2012 on a promise to protect government social spending and the nation's workers by punishing businesses that closed plants and taxing the most successful citizens. A member of Hollande's Cabinet told steelmaker ArcelorMittal that if it didn't protect jobs, its plant in northern France would be nationalized. Hollande's persistent push for a 75 percent tax on incomes above 1 million euros won court approval last month. He made scant efforts to deal with France's soaring public debt and notoriously uncompetitive business environment. And what has happened in France? Foreign investment has dried up. Unemployment has hit a 16-year high, more than twice the rate of Germany. Consumer spending and economic growth have stalled. I hope people in the US pay attention to this but I doubt it. I doubt they are paying attention to this, but the good news is people in the US are also learning their lesson on this topic the hard way in a very similar fashion to France. We'll see how things continue to unfold here in the States, but I am not fond of the direction we're going. |
| 2014-01-16 8:25 AM in reply to: 0 |
Regular 1023 Madrid | Subject: RE: France's run at socialism ends. Interesting guy this Hollande. he's a real bookish kind of guy. To look at him you'd never think it but he's quite the player. He has 3 or 4 kids with his common law wife of the past. then he has the girlfriend that has served in the first lady role the since he's been elected. Recently he was caught sneaking out the back door and hopping on his scooter to be with his current girlfriend causing the previous girlfriend to be hospitalized with panic attack symptoms. The French have a pretty ho hum attitude towards these things. The polls even say he's gained popularity as a result of it. Crisis ? What crisis.... Edited by gr33n 2014-01-16 8:26 AM |
| 2014-01-16 10:20 AM in reply to: gr33n |
Expert 3126  Boise, ID | Subject: RE: France's run at socialism ends. I was surprised the French people were dumb enough to get rid of their last leader and to replace him with this guy. Pretty crazy that it only took 2 years for a 180 from him, wonder how that will play out for their next election. Will the voters be smart enough to not try to vote themselves a free paycheck again? |
| 2014-01-16 10:27 AM in reply to: Aarondb4 |
| Subject: RE: France's run at socialism ends. Originally posted by Aarondb4 I was surprised the French people were dumb enough to get rid of their last leader and to replace him with this guy. Pretty crazy that it only took 2 years for a 180 from him, wonder how that will play out for their next election. Will the voters be smart enough to not try to vote themselves a free paycheck again? Dunno. Remember all the strikes, work stoppages and civil unrest when they were trying to pass a law that a business could actually fire someone? Ahh, found it: http://www.nytimes.com/2006/03/28/international/europe/28paris.html... I remember how one of the quotes was something akin to, "If this passes I'll actually have to work at my job..." |
| 2014-01-16 10:37 AM in reply to: DanielG |
Regular 1023 Madrid | Subject: RE: France's run at socialism ends. European labor laws are one of main problems that inhibit European growth. Its very difficult to fire anyone. And its very costly. So not only is every business super reluctant to hire, most workers have whats called a funcionario mentality- translated that means they don't work too hard because they know its unlikely they'll get fired. That said if you're a worker its not a bad thing. If you get fired (without cause) the norm is something like 45 days pay for every year with the company. Tax free..... |
| 2014-01-18 12:36 PM in reply to: DanielG |
| 286 , | Subject: RE: France's run at socialism ends. Originally posted by DanielG In France's case, I can see the direct correlation between an uncompetitive business environment (thus high unemployment) and socialism. But, in the US....higher than normal unemployment rates weren't mainly driven by that as the cause. http://www.chicagotribune.com/news/opinion/editorials/ct-hollande-f... He was elected in 2012 on a promise to protect government social spending and the nation's workers by punishing businesses that closed plants and taxing the most successful citizens. A member of Hollande's Cabinet told steelmaker ArcelorMittal that if it didn't protect jobs, its plant in northern France would be nationalized. Hollande's persistent push for a 75 percent tax on incomes above 1 million euros won court approval last month. He made scant efforts to deal with France's soaring public debt and notoriously uncompetitive business environment. And what has happened in France? Foreign investment has dried up. Unemployment has hit a 16-year high, more than twice the rate of Germany. Consumer spending and economic growth have stalled. I hope people in the US pay attention to this but I doubt it. Interesting article on this topic, though. |
| 2014-01-18 3:19 PM in reply to: 0 |
Master 1730 Straight outta Compton | Subject: RE: France's run at socialism ends. Originally posted by DanielG http://www.chicagotribune.com/news/opinion/editorials/ct-hollande-f... He was elected in 2012 on a promise to protect government social spending and the nation's workers by punishing businesses that closed plants and taxing the most successful citizens. A member of Hollande's Cabinet told steelmaker ArcelorMittal that if it didn't protect jobs, its plant in northern France would be nationalized. Hollande's persistent push for a 75 percent tax on incomes above 1 million euros won court approval last month. He made scant efforts to deal with France's soaring public debt and notoriously uncompetitive business environment. And what has happened in France? Foreign investment has dried up. Unemployment has hit a 16-year high, more than twice the rate of Germany. Consumer spending and economic growth have stalled. I hope people in the US pay attention to this but I doubt it. Sounds a lot like Bill De Blasio. I'm glad I don't live in NYC, apparently the voters there forgot how awful things were under Koch and Dinkins. Edited by mcgilmartin 2014-01-18 3:19 PM |
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