[babystrangeloop]

France unveils $16b austerity plan
Associated Press / August 25, 2011

PARIS - President Nicolas Sarkozy’s government has bowed to economic reality, admitting its growth forecasts were overly rosy and announcing a $16 billion austerity package in a bid to ensure that France doesn’t miss a vital pledge to cut its deficit.

... Fillon blamed the international economic slowdown for France’s failure to achieve the 2 percent growth this year. ...

[Sixstrings]

Sounds like a good plan to me:

Sarkozy’s austerity package consists largely of closing tax loopholes and scraping deductions for the country’s largest companies. But it also includes a $288 million tax hike on the country’s wealthiest taxpayers.

That's exactly what we should do, rather than pull the SS / Medicare rug out from under folks ready to retire.

[evilgenius]

The last time the US had high tax rates on the poor rich guys was when? I mean rates 70% and above, not 35% instead of 33%. I remember those kinds of rates from when I was little and they did not seem to slow down anybody's aspirations to become rich. Of course, back then a million dollars was a million dollars. I suppose today to be fair those rates would have to kick in after a person earned 5 or 10 million dollars. Yeah, that's not many people, that's true, but I bet it represents somewhere north of 80% of the wealth generated by the economy. I'm just guessing, but people who make that much might be slightly more than 1% of the population and making the vast majority of its money.

[kiwichick]

why doesn't the us just reduce the amount of money it spends on killing people

oh sorry thats right the killing industry is essential to keep the economy above water

[babystrangeloop]

France unveils new austerity budget
The Connexion / August 25, 2011

... The price of cigarettes will rise by 6% within the coming days - a measure expected to bring in an extra €100m a year in revenue - and a further 6% in the 2012 budget.

This budget will also include a duty increase on spirits and beer ...

It's a tax on the rich all right since we all know they drink and smoke the most.

[pedalling_faster]

there's got to be a better acronym

PIGSPI ?

PIGSIP ?

SPIFIG ?

[dolanbaker]

How about,
France
United States
China
Korea
Equador
Denmark

I'll leave it up to you to join the dots.

Why this obsession of clumping groups of nations together when it really is a global issue!

[steam_cannon]

there's got to be a better acronym...

How about,
France
United States
China
Korea
Equador
Denmark

I'll leave it up to you to join the dots.

We have a winner!

[Alan Cain]

I'm just guessing, but people who make that much might be slightly more than 1% of the population and making the vast majority of its money.

400 people "make" (as in steal) as much as the bottom 150 MILLION people here in the USofA.

My take on personal wealth is that there are two ways to be wealthy:
1. Steal it.
2. Inherit it from the guy who stole it.

NObody is worth 5 million dollars a year; contracts that yield that level of income are based on inequitable relationships. Of course I am a wild eyed crazed socialist, and I believe in equity; has always been a problem for me.

[Pretorian]

How about,
France
United States
China
Korea
Equador
Denmark

I'll leave it up to you to join the dots.

Why this obsession of clumping groups of nations together when it really is a global issue!

PIGS are still PIGS even if you are from Ireland.

[dolanbaker]

How about,
France
United States
China
Korea
Equador
Denmark

I'll leave it up to you to join the dots.

Why this obsession of clumping groups of nations together when it really is a global issue!

PIGS are still PIGS even if you are from Ireland.

No, they're called muca in some parts.

[Novus]

Sounds like a good plan to me:

Sarkozy’s austerity package consists largely of closing tax loopholes and scraping deductions for the country’s largest companies. But it also includes a $288 million tax hike on the country’s wealthiest taxpayers.

That's exactly what we should do, rather than pull the SS / Medicare rug out from under folks ready to retire.

America is a backwards country when it comes to these things. Lets tax the poor and make them even poorer but hands off the billion dollar Wall St bonuses. That is the American way.