As French President François Hollande outlined new taxes and spending cuts while promoting reforms to turn the economy around – word leaked out that France’s wealthiest man, Bernard Arnault, was heading for Belgium in a rumored tax dodge.
At first, the timing could not appear to have been worse for the national morale and Mr. Hollande. His tax hikes run 20 billion euros, his spending cuts number 10 billion euros, and his Socialist government must cut public service jobs. In addition, he will hit those with direct salaries over 1 million euros ($1.3 million) with a 75 percent tax.
http://www.csmonitor.com/World/Europ...become-Belgian
At first, the timing could not appear to have been worse for the national morale and Mr. Hollande. His tax hikes run 20 billion euros, his spending cuts number 10 billion euros, and his Socialist government must cut public service jobs. In addition, he will hit those with direct salaries over 1 million euros ($1.3 million) with a 75 percent tax.
http://www.csmonitor.com/World/Europ...become-Belgian
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