PARIS – France – Wealthy French people have started to leave the country in droves after the newly formed socialist government headed by Francois Hollande, brought in a new inhibitive tax system taking away 75% of earnings and putting a 62% tax on sales of stock.
“Nothing new to see here, just another mass exodus of the rich, wealthy, professionals as well as companies, businesses and entrepeuneurs,” Louis Truie, an opposition minister told Le Figaro.
The new laws coming into place will not only take away 75% of one’s income but there will also be a huge increase in capital gains tax which will deem many properties redundant.
“I put my million euro property up for sale but there is no one who wants to buy it because of the huge increase in capital gains tax. Why would someone want to buy a liability like that?” a desperate entrepeuner told a local radio station in Paris.
“We now live in a country where hard work and enterprise are punished,” Jules Sebastian, a company executive said.
Business is also taking a big hit as managers of major international corporations, entrepreneurs and investors are departing in droves because of the marginal tax rate of 62.21 percent on sales of stock.
“This new taxation by the socialists only creates a brain drain, wealth drain and an exodus of all that is good in France. Everyone knows that socialists are useless with money, and this is proof right here. Look what Labour did to the UK, Obama did to the US and now Hollande is doing to France. Who is going to pay the welfare bill of the people who are left in France? Maybe Hollande and his idiot ministers think that the people on welfare will pay the welfare bill. Stupide connard!” an angry businessman said on his way to the airport.