This page has been archived and commenting is disabled.

You Won't Believe What The French Are Taxing Now...

Tyler Durden's picture




 

Submitted by Simon Black of Sovereign Man blog,

At our workshop in Chile some months ago, European MEP Nigel Farage blasted French President Francois Hollande as leading the pack “in the modern day Pantheon of idiots who are running countries around the world…”

(You can see Nigel’s scathing remarks here, about 35 seconds in to the clip)

Of course, the French president had recently introduced a ‘hate tax’ on its countries most successful people, driving out whatever few productive people remain in France.

But this hate tax was just the tip of le iceberg.

Just look at what they’ve done or announced just in the last month:

1) Double the corporate surtax

It’s not enough that France has one of the highest corporate tax rates in the developed world. On top of this, they have a corporate ‘surtax’, or a tax on top of the tax.

And earlier this month, they announced plans to DOUBLE it.

2) Increase reporting obligations

Anyone who has ever started a business knows that a new business is like a newborn baby. It’s critical to focus on growth, not on filling out a bunch of paperwork.

The French government doesn’t care about this. So they’ve recently LOWERED the bar for reporting obligations, requiring a businesses with top-line revenue of just 80,000 euros to submit time consuming and onerous VAT reports to the tax authorities.

3) Increased pension tax

France has one of the most bankrupt… and unsustainably generous… pension systems in the world.

But rather than completely overhauling the system and expect people to, you know, actually work past the age of 55, they’ve just decided to raise the pension tax. Again.

4) Energy drink tax

Not to be outdone by Michael Bloomberg’s soda tax in New York City, the French National Assembly has recently proposed to tax energy drinks… as much as ONE EURO ($1.37) per can.

5) Higher property taxes

Last month, the French government announced plans to revise property value assessments across the country, which serves as the basis for a number of property taxes.

6) Data tax [my personal favorite]

You can’t make this stuff up.

In one of the most absurd tax propositions in history, the French government now has the idea that they should tax data transfers outside the European Union.

They actually plan on proposing this at this week’s European Summit. Strangely, though, they don’t seem to even understand what this means. They’re just so desperate to tax something… anything. They’re just monkeys throwing darts at the wall right now.

And they’re getting ready for more.

Earlier this year, the French government promised a ‘tax pause’ in 2014, suggesting that they would not raise taxes next year.

Last month, though, they revised this pledge, saying that the tax pause would take effect in 2015 instead.

Needless to say, there will be no pause in 2015.

Why? Because France is broke. Like so many other nations across the West, France has been rendered completely insolvent by decades of unsustainable spending.

France has been in this position before. In the 18th century, the French Bourbon monarchy was the pinnacle of civilization.

Yet decades of unsustainable spending took their toll on the economy. They tried everything– raising taxes, debasing the currency… yet their was no avoiding the inevitable. Revolution.

And this period of turmoil, from the time the French people stormed the Bastille, to the time when calm prevailed, took 26-years.

In the meantime, they had internal civil war, external war against both Austria and Prussia, hyperinflation, and the genocidal dictatorship of Robespierre.

Conditions are similar now, both in France and across the West. This includes the Land of the Free.

We have reached a time where it’s imperative to look abroad at different options and opportunities. Clinging to blind patriotism– staying home, doing nothing, and trusting your government– is akin to taking a toaster into the bathtub.

Wealth and power have constantly shifted throughout history. And the transitions are rarely smooth or peaceful. It’s foolish to assume that this time is any different.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 10/22/2013 - 16:47 | 4080741 Newfie
Newfie's picture

I hear Canada is going to create a fart tax.

Tue, 10/22/2013 - 16:58 | 4080788 Headbanger
Headbanger's picture

Shhhhh!!   Don't let Al Gore get that idea cause he'll call it  the "Personal Methane Emissions Tax" (PMET) to help reduce climate change!

Tue, 10/22/2013 - 16:59 | 4080796 idea_hamster
idea_hamster's picture

They’re just monkeys throwing darts at the wall right now.

That doesn't smell like "darts."

Tue, 10/22/2013 - 17:18 | 4080862 kaiserhoff
kaiserhoff's picture

Fucking frogs.

Put a tax on doggie doo, and yappie little poodles.

That will raise some revenue and no end of Hell.

While they are at it, they should tax posing, posturing, bad attitudes, and above all CIGARETTES.

Tue, 10/22/2013 - 17:34 | 4080909 NoDebt
NoDebt's picture

The real colossal stupidity of this around the world is that the "leaders" are well aware they are trudging the well known, well-documented path to national failure.  Yet they proceed with every step unflinchingly and right on queue.

They seem to think that because they've always been a step ahead of the plebes, able to exempt themselves from their own stupidity that they will be able to avoid the consequences that come with burning down your own house.

"We know this is all going to come down, but it won't bite us too hard."  They'll find out too late, they were wrong.

Tue, 10/22/2013 - 18:23 | 4081074 Nick Jihad
Nick Jihad's picture

Well, unlike Louis XVI, they will be able to plead that they only did what the plebes demanded of them.

Tue, 10/22/2013 - 18:35 | 4081099 FL_Conservative
FL_Conservative's picture

Wake me when the sheeple who voted for all these village idiots wake up and are ready to take responsibility for their stupidity and do something about this.  I'm no longer gonna co-sign for anyone else's bullshit.

Tue, 10/22/2013 - 19:10 | 4081180 johnQpublic
johnQpublic's picture

dont you tell me wheere i can take MY toaster!!

Tue, 10/22/2013 - 21:30 | 4081479 infotechsailor
infotechsailor's picture

schiff, farage, ands Dr. Paul... have you ever seen a finer panel? Those men should be our heads of state, not the morons weve got now.

Tue, 10/22/2013 - 22:17 | 4081589 mjcOH1
mjcOH1's picture

"A lot of folks are still demanding more evidence before they actually consider Iraq a threat. For example, France wants more evidence. And you know I'm thinking, the last time France wanted more evidence they rolled right through Paris with the German flag." —David Letterman

"I don't know why people are surprised that France won't help us get Saddam out of Iraq. After all, France wouldn't help us get the Germans out of France." —Jay Leno

"Did you see the new bomb the government came up with? It weights 21,000 pounds. The Air Force tested this bomb in Florida and the bomb blast was so strong at Disneyworld 25 French tourists surrendered." —Jay Leno

"You know why the French don't want to bomb Saddam Hussein? Because he hates America, he loves mistresses and wears a beret. He is French, people." —Conan O'Brien

 

Tue, 10/22/2013 - 23:42 | 4081774 Scarlett
Scarlett's picture

 

 

How about taxing 85% of the income of politicians and all public employess?  

 

How about selling the Eiffel tower and surrounding area to create a big fat Chinatown?

 

Sounds more reasonable to me.

Tue, 10/22/2013 - 23:53 | 4081789 merizobeach
merizobeach's picture

Those are some reasonably amusing jabs at the French, but the ubiquitous pro-war MSM propaganda is much more sickening than the jokes are funny.

Wed, 10/23/2013 - 05:56 | 4082084 Analyse2
Analyse2's picture

TROLL DETECTED

 

Tue, 10/22/2013 - 17:22 | 4080867 spine001
spine001's picture

Extrangely, and despite many Countries having it, you never ever hear of a WEALTH Tax neither in the USA, nor in Europe, which revealst the truth about who is really in control of the TAX system. A simple wealth tax of 2% per year would solve the USA deficit problems.

That is 2% of your net wealth every year.

Tue, 10/22/2013 - 18:02 | 4080990 CheapBastard
CheapBastard's picture

Higher property taxes are an obvious no brainer since the source is easy to find and the law is easy to enforce.

This is one reason I see more areas here raising property taxes to 3.1% to 3.5%...for starters, esp in those States where there is no state income tax (like Texas, Florida, etc). The State needs revenue somehow since they cannot print and residential houses are an easy target.

You'll see lots more of this along the way.

Tue, 10/22/2013 - 18:07 | 4081016 unrulian
unrulian's picture

Where do you get a ticket for that event? Paul, Schiff and Farage?

Wed, 10/23/2013 - 10:29 | 4082598 spine001
spine001's picture

Funny that people thought that I was proposing a wealth tax. LOL. I'd be the last to propose that. I was just making an observation.

Also, imagine a banker like Jamie Dimon or Warren Buffet (right behind the scam concienciouslly enabled by Moody's that created the 2008 debacle) or other people like them. Can you imagine them allowing a wealth tax? LOL at the thought.

My observation is that this behaviour makes it real clear who is in control. At least to me.

The reason I make the observation is that the system as it is, is completely screwed. And the path we are following is on of self assured destruction.

Where I disagree with most posters that haven't lived what happens when the financial system comes down crashing (I lived through this type of MAJOR crashes and saw what happen to Society) is that there is not going to be ANY sudden "explosion" like situation, it's going to be a gradual degradation of our quality of life and of the Society we live in. We will be regressing as a community into the behaviours of our poorer brethern. Slowly, as inflation and moral hazard changes the behaviour of the coming generations for years to come. It will be sad and the new kids won't know better. This process really started with Bill Clinton. Don't forget the campaign funding scandal that was uncovered where the Chinese government was funding his campaign through thrid parties. It got uncovered and then covered. Since Clinton Trillions and Trillions of wealth have been shifted to Asia and the Middle East.

Wed, 10/23/2013 - 11:24 | 4082772 Thisson
Thisson's picture

A lot of the "wealth" owned by the rich is debt, including odious debt and bad debt.  Instead of a wealth tax, we can restore "mark to market" and stop protecting these bad debts from default.  We can stop QE driving up the prices on the assets they hold.  We can stop propping up real estate values.  We can stop artificially holding down interest rates.  We can stop subsidizing the big companies they own stock in.  We can stop favoring large corporations by using taxes and regulations to protect them from upstart competitors.  We can stop deficit spending that pumps money into "defense" (really war!) companies and companies with lucrative non-competitive government contracts.  And we can stop the laws protecting the medical monopoly.

These policy changes would benefit the lower classes - cheaper housing, less inflation, higher real wages while still having labor competitively priced compared to capital goods (e.g. robots).  And we can do it all without recking the market pricing mechanic that allows capitalism to allocate goods and services.

Tue, 10/22/2013 - 19:05 | 4081173 Burticus
Burticus's picture

That's the problem with real estate as a "hard asset" investment.  You can't move it, you can't hide it and it always comes with a parasite attached.

Wed, 10/23/2013 - 03:17 | 4081985 Lost My Shorts
Lost My Shorts's picture

I have been looking for a house, and I noticed a funny thing.  The higher the property tax, the higher the price.

You are probably thinking, no shit Sherlock, taxes are proportional to price.  Duh.  But after 50 hours on Zillow, I dont' think it's a one-directional relationship.  Taxes and market price have a mutually reinforcing positive feedback relationship.  Where taxes are tea-party-low, and the schools are junk, and the public services are third-world standard, houses are priced like tin shacks in Zimbabwe.  But where the schools are good, and public services are good, and government actually functions, and taxes are stiff, house prices are always out of my &%$#@ price range.

Some people look at real estate as just a store of value, and bitch about the carrying cost (property taxes).  Others view real estate as somewhere to live or do business, and they will pay a big tax premium to be in a non-third-world environment.  Location location location.  Unless you are farming, mining, or clear-cutting, property derives its value from public services !!!  It's so bizarre.  If they eliminated your property taxes, your value would fall by half at least (which might be fine with you if you just plan to live there with cable TV until death, and don't care about your heirs.) 

Wed, 10/23/2013 - 11:33 | 4082801 Thisson
Thisson's picture

High taxes don't increase the price of real estate.  It's the other way around.  If services are provided efficiently, schools are relatively good and people moving in bid up prices.  They're also more willing to pay taxes since they see the money isn't being wasted.  When a street lamp goes out in a "nice" neighborhood, 1 call from a resident and it gets fixed promptly.  That's because residents of affluent neighborhoods notice immediately when their complaints are ignored and hold the local politicians accountable. 

Tue, 10/22/2013 - 18:06 | 4081011 Oldwood
Oldwood's picture

Isn't that what a 2% inflation rate is?

Wed, 10/23/2013 - 03:52 | 4082006 capitallosses
capitallosses's picture

2% my ass. Any idiot knows it much higher than that. And yes, the USSA does tax inflation, double whammy.

Tue, 10/22/2013 - 18:21 | 4081065 CH1
CH1's picture

A simple wealth tax of 2% per year would solve the USA deficit problems.

Wow... talk about something that would be incredible for the black market!

Tue, 10/22/2013 - 18:26 | 4081081 Nick Jihad
Nick Jihad's picture

A simple wealth tax of 2% per year would solve the USA deficit problems.  You seriously believe that Congress would not factor the increased revenue into their spending baseline?

Tue, 10/22/2013 - 18:48 | 4081126 icanhasbailout
icanhasbailout's picture

What would really solve US deficit problems is to simply hang every public representative who voted to incur net public debt, at the end of each session.

Tue, 10/22/2013 - 19:13 | 4081184 johnQpublic
johnQpublic's picture

why oh why is the solution never to just spend less?

Tue, 10/22/2013 - 19:36 | 4081249 Promethus
Promethus's picture

We already have wealth taxes and they are a lot more than 2%. They are dollar debasement through inflation and financial repression, paying you 0.00001 % interest on your savings.

Tue, 10/22/2013 - 20:56 | 4081404 Syrin
Syrin's picture

Are you really as f'ing dumb as your post would suggest?

Tue, 10/22/2013 - 21:36 | 4081492 Singelguy
Singelguy's picture

The Netherlands has an annual wealth tax of 1.4% on all financial assets over €20,000. France has a 2% wealth tax on all assets over €800,000 which includes homes, cars, art collections. Both countries national debt continues to grow. If you think a wealth tax will solve the deficit you are smoking some pretty bad stuff. The politicians will find new ways to spend the extra tax revenue (and take their cut) rather than pay a dime off of the debt.

Wed, 10/23/2013 - 03:31 | 4081995 Lost My Shorts
Lost My Shorts's picture

I agree with the others that a simple, continuous wealth tax proposal is very naive and solves nothing.  Instead, the wealth tax must be structured in a set of policies that change the incentives of the rich who control the country.  For example:

-- foreign wars and all related expenses can be funded only with a wealth tax.

-- any time TBTF financial institutions need a bailout, there shall be a 10% wealth tax that tax year.

-- one-time wealth tax of $100,000, spread across all the rich, for every American job outsourced overseas.

-- all environmental clean-up (superfund type stuff) shall be funded with wealth taxes.

This approach discourages the wrong sorts of goverment spending, and doesn't give politicians extra funds for pork.

Tue, 10/22/2013 - 16:58 | 4080792 climber
climber's picture

No more Terrance and Phillip

Tue, 10/22/2013 - 17:06 | 4080821 fonestar
fonestar's picture

"modern day Pantheon of idiots"  Hahaha.... I love Farage's speeches.

Tue, 10/22/2013 - 17:11 | 4080842 BigJim
BigJim's picture

http://www.youtube.com/watch?v=uDDJvC2CGaU

Surely one of the high points of Western civilization.

Tue, 10/22/2013 - 17:56 | 4080975 Analyse2
Analyse2's picture

TROLLS ARE EXPECTED !

Considering the level and tonality of this article, we will surely have a fireworks of troll's hateful comments,

in place of the high level interesting debates we are waiting for ...

 

Tue, 10/22/2013 - 18:58 | 4081152 Peter Pan
Peter Pan's picture

I would gladly pay a fart tax if I could fart directly into Hollande's face.

Wed, 10/23/2013 - 07:25 | 4082142 neidermeyer
neidermeyer's picture

Didn't Argentina just introduce a fart tax on cows? I guess they want to crush their longest standing industry..

Tue, 10/22/2013 - 16:47 | 4080742 slotmouth
slotmouth's picture

The thing that most people don't get is people just don't pay these taxes in Europe, especially the wealthy. 

Tue, 10/22/2013 - 16:54 | 4080778 Renewable Life
Renewable Life's picture

Entitlement King (Obama) meet the Tax King (Hollande), maybe you guys could get together and really fix shit, no.......ok then, at least throw a really cool hip hop/Techno rave with lots of french hookers and blow!

Wed, 10/23/2013 - 00:31 | 4081841 TBT or not TBT
TBT or not TBT's picture

Not many French hookers in France, or anywhere.

Wed, 10/23/2013 - 07:28 | 4082145 neidermeyer
neidermeyer's picture

The French hookers may be african but they're thin and hot ,, none of them have the Moochelle butt.

Tue, 10/22/2013 - 17:03 | 4080814 NOTaREALmerican
NOTaREALmerican's picture

Re:  The thing that most people don't get is people just don't pay these taxes in Europe

Yeah, always wondered about that.    Everybody knows about Greeks.  But I've always wondered what the rest of the EU is like.

There's more and more "off-the-books" stuff in the US too.

Tue, 10/22/2013 - 21:38 | 4081498 Singelguy
Singelguy's picture

The black market economy is 12% of the official economy in Europe and 9% in the USA. It is growing in both economies as taxes increase.

Wed, 10/23/2013 - 00:32 | 4081846 TBT or not TBT
TBT or not TBT's picture

Higher than 12 in France, and much higher in the rest of club med. Much lower in Germany.

Wed, 10/23/2013 - 04:13 | 4082023 Divine
Divine's picture

All ex-soviet states have quite high unofficial economy, but they are nothing compared to Club Med. Here in Finland it is actually hard to get goods/services without receipt.

Tue, 10/22/2013 - 16:48 | 4080746 vxpatel
vxpatel's picture

uhhh...tax the shit out of the top 1%.

Tue, 10/22/2013 - 17:06 | 4080824 booboo
booboo's picture

Yes, thats a grand plan, more trickle down theft.

Tue, 10/22/2013 - 17:07 | 4080826 vxpatel
vxpatel's picture

it's never been tried....

Tue, 10/22/2013 - 17:14 | 4080848 booboo
booboo's picture

Sure it has, it's called nationalization, worked out great for the government, not so much for the poor plebes. You are young, you will figure out some day that they can take it all but you still ain't going to get shit out of it.

Tue, 10/22/2013 - 18:27 | 4081073 CH1
CH1's picture

You are young, you will figure out some day that they can take it all but you still ain't going to get shit out of it.

Comment of the day, Booboo.

Tue, 10/22/2013 - 18:54 | 4081136 vxpatel
vxpatel's picture

wow, you are old and wise. We could start by rolling taxes 'back' to what they were in the ronald regean years.

Tue, 10/22/2013 - 19:11 | 4081181 Buckaroo Banzai
Buckaroo Banzai's picture

My God, you're a fucking idiot. Quit trolling here and go back to FailyKos, or whatever stupid Libtard site you came from.

Tue, 10/22/2013 - 19:22 | 4081213 vxpatel
vxpatel's picture

why don't you go the briebart site you are more suited for?

Tue, 10/22/2013 - 17:15 | 4080853 darteaus
darteaus's picture

Hmmm...  I wonder how the 1% just seem to avoid taxes, time after time?

Tue, 10/22/2013 - 18:12 | 4081033 Diogenes
Diogenes's picture

Simple, the ones who don't dodge the taxes are no longer part of the 1%.

Tue, 10/22/2013 - 18:16 | 4081052 James_Cole
James_Cole's picture

Income trusts bitchez, never pay taxes again!

Tue, 10/22/2013 - 23:17 | 4081730 TheReplacement
TheReplacement's picture

How about we find a crime (theft, fraud, treason, yeah treason we likey...) and imprison the 1% and all the politicians who keep feeding that beast.  Then we take their ill gotten wealth back and use it for the public good - like remodelling the government to be something as framed by the Constitution.

Oh, and cut spending too.  Duh.

Tue, 10/22/2013 - 16:48 | 4080747 Fake_nation
Fake_nation's picture

Nice to hear the resounding voice of Nigel Farage, somebody who can still talk like an actual human being.

http://www.fakenation.info/please/does-a-robot-write-the-white-houses-emails

Tue, 10/22/2013 - 16:51 | 4080760 frenchie
frenchie's picture

you should mention that someone helped a bit Bourbons to spend money they didn't have (debt?)... and you know who are those helping chosen ones...

Tue, 10/22/2013 - 16:51 | 4080764 James-Morrison
James-Morrison's picture

No, I do believe they will tax anything and everything. 

Beware the penny's on your eyes. 

Tue, 10/22/2013 - 17:27 | 4080886 Row Well Number 41
Row Well Number 41's picture

I wonder what kind of ride the fairyman gives you for a penny.  It's the last ride you'll take, don't skimp on it.

#41

Tue, 10/22/2013 - 17:50 | 4080957 mick_richfield
mick_richfield's picture

Dude.

That's ferry man.

And he is one guy you do not want to piss off.  Trust me.

Tue, 10/22/2013 - 18:08 | 4081022 Oldwood
Oldwood's picture

He could be both...

Tue, 10/22/2013 - 18:19 | 4081063 jimmytorpedo
jimmytorpedo's picture

My all time favourite is the 'death tax'.

we'll tax you even when you're dead,...

Wed, 10/23/2013 - 02:33 | 4081955 StychoKiller
StychoKiller's picture

One, two, three, four (for you, nineteen for me)
One, two (one, two, three, four)

Let me tell you how it will be
There's one for you, nineteen for me
'Cos I'm the taxman
Yeah, I'm the taxman

Should five per cent appear too small
Be thankful I don't take it all
'Cos I'm the taxman
Yeah, I'm the taxman

(If you drive a car—car)
I'll tax the street
(If you try to sit—sit)
I'll tax your seat
(If you get too cold—cold)
I'll tax the heat

(If you take a walk—walk)
I'll tax your feet
Taxman

'Cos I'm the taxman
Yeah, I'm the taxman

Don't ask me what I want it for
(Ha, ha, Mr. Wilson)
If you don't want to pay some more
(Ha, ha, Mr. Heath)
'Cos I'm the taxman
Yeah, I'm the taxman

Now my advice for those who die
(Taxman)
Declare the pennies on your eyes
(Taxman)
'Cos I'm the taxman
Yeah, I'm the taxman
And you're working for no one but me (Taxman)

Tue, 10/22/2013 - 16:53 | 4080770 sbenard
sbenard's picture

I see dead economies!

Tue, 10/22/2013 - 17:43 | 4080936 Keyser
Keyser's picture

Me too, but Japan proves that a zombie economy can hang around for a long time without falling off the face of the earth. 

 

Tue, 10/22/2013 - 18:26 | 4081078 CH1
CH1's picture

Japan proves that a zombie economy can hang around for a long time without falling off the face of the earth.

Well, they are all (more or less) interlocked zombie economies. Once the cracks open up, it's likely to become spectacular.

Tue, 10/22/2013 - 19:59 | 4081282 Tall Tom
Tall Tom's picture

Japan's people had savings that the Government could rape and pillage. Most every other Government's people also are deeply indebted. There is nothing left to steal.

Tue, 10/22/2013 - 16:54 | 4080777 Groundhog Day
Groundhog Day's picture

how about an air tax, i mean you can't expect air to be free. 

Tue, 10/22/2013 - 17:08 | 4080825 monad
monad's picture

Air is free, but exhaling is carbon taxable, you despicable, insensitive, inconsiderate serial polluter. Don't breath so much, you're hurting me.

Ow. Ow.

Ow.

Tue, 10/22/2013 - 17:25 | 4080880 Escapedgoat
Escapedgoat's picture

......breathing or farting?????????  and where would the meter be positioned?????

any answers????

Tue, 10/22/2013 - 18:23 | 4081072 Poor Grogman
Poor Grogman's picture

A tax on QE would be better , it could be used to pay off sovereign debt and would actually increase over time or if the share market ever went down.

Now you can excuse yourself while your head explodes...

Tue, 10/22/2013 - 19:15 | 4081195 tvdog
tvdog's picture

Farting should have a higher tax rate than breathing. Methane is supposedly 25 times as effective a greenhouse gas as CO2.

Tue, 10/22/2013 - 19:17 | 4081199 johnQpublic
johnQpublic's picture

meter(s) plural

 

why have one when you can have two at twice the price

government program after all

Tue, 10/22/2013 - 17:08 | 4080833 booboo
booboo's picture

Why do jews have such big noses? Cause air is free.

Tue, 10/22/2013 - 17:43 | 4080935 FeralSerf
FeralSerf's picture

Why do the French have such big noses?

Tue, 10/22/2013 - 18:32 | 4081093 Nick Jihad
Nick Jihad's picture

Because air is not (yet) taxable?

Tue, 10/22/2013 - 16:54 | 4080779 highly debtful
highly debtful's picture

I was just preparing a rant about your disgraceful Obamacare-shutdown-debt ceiling fiasco, thus astutely implying that we Europeans are clearly less of a basket case than the US, when my eye caught the following title on express.be, a Belgian newssite: Shutdown dreigt voor Europees Parlement: 'Geld is na 15 november op', which is Flemish for 'Looming shutdown for the European Parliament: Out of money after 15th november'. You see, apparently the European member states have been overly optimistic in estimating the European Union's budget for 2013, which means no funds will be available after 11/15/2013 to meet the EU's financial obligations until the end of the year. Granted, the additional budget required amounts to a mere 3 to 4 billion euro, pocket change in today's world, but I promise I will try for some humility from now on.  

Tue, 10/22/2013 - 17:01 | 4080802 Mi Naem
Mi Naem's picture

"humility" - surely there's a tax for that. 

Tue, 10/22/2013 - 17:16 | 4080858 QQQBall
QQQBall's picture

Not enuf to make a dent even at a100% tax rate

Tue, 10/22/2013 - 18:36 | 4081101 hidingfromhelis
hidingfromhelis's picture

Hubris seems to result in a tax credit though.

Tue, 10/22/2013 - 17:01 | 4080804 NOTaREALmerican
NOTaREALmerican's picture

Re:  I will try for some humility from now on.

Come on, this is ZH and politics.   Politics means never admiting you're wrong.

Tue, 10/22/2013 - 17:02 | 4080808 Quinvarius
Quinvarius's picture

I promise you will come out the other end with no debt limit at all, just like we did.

Tue, 10/22/2013 - 17:13 | 4080831 css1971
css1971's picture

The European Parliament is completely irrelevant. A hot air generation facility blah blah blah.

It's the council of ministers who run the show.

 

Do we really need people employed permanently to create new laws? What we need is a law tax. And why do we pay them to do this? Surely they should be paying us to create new laws. Make it clear what is going on "Buy a law". Then it can be branded in the law books.

The "Kraft food regulation law" designed to get rid of small producers of X just as an example.

Tue, 10/22/2013 - 17:13 | 4080846 BigJim
BigJim's picture

A tax tax!

Tue, 10/22/2013 - 19:10 | 4081179 tvdog
tvdog's picture

In the U.S., there already is a "law tax." It's called a "campaign contribution."

Tue, 10/22/2013 - 17:52 | 4080965 mick_richfield
mick_richfield's picture

At some point soon, we in America will shut down the United States government forever.

And won't that just confuse the living shit out of you Europeans!

A while ago, when we first said that we could have a country without a king, you guys thought that was a contradiction in terms.

Tue, 10/22/2013 - 18:14 | 4081040 logicalman
logicalman's picture

The US has Obama, pretty much a de facto king.

Tue, 10/22/2013 - 18:50 | 4081130 Ghordius
Ghordius's picture

indeed, we are confused. look at me, last week I watched a US fleet with supercarrier. Oh boy, a sight to behold. And the planes...

and now you tell me it's going to disappear? What are your plans for all that hardware? A garage sale? The scene out of Toy Story, where the boy outgrows the silliness of childhood?

Tue, 10/22/2013 - 16:56 | 4080782 TeamDepends
TeamDepends's picture

What is the tax on calling someone an eeeediote!!!!!

Tue, 10/22/2013 - 16:56 | 4080784 Dr. No
Dr. No's picture

data transfers outside the European Union

 

This will bankrupt the NSA!!

Wed, 10/23/2013 - 02:37 | 4081957 StychoKiller
StychoKiller's picture

Are the 0-bits taxed less than the 1-bits?  Inquiring minds gotta know...

Tue, 10/22/2013 - 17:00 | 4080789 Black Forest
Black Forest's picture

Next time they'll tax every tax payment by further 0.1 percent. Sounds negligible, doesn't it?

Tue, 10/22/2013 - 17:50 | 4080955 forwardho
forwardho's picture

Wait a minute, that means you are never paid up.

Tue, 10/22/2013 - 16:59 | 4080795 NOTaREALmerican
NOTaREALmerican's picture

They have good pastries tho, gotta give them credit.

Tue, 10/22/2013 - 17:07 | 4080829 JonNadler
JonNadler's picture

pastries will be taxed too

Tue, 10/22/2013 - 17:00 | 4080800 RealityCheque
RealityCheque's picture

Cheese eating surrender monkeys!

Tue, 10/22/2013 - 17:14 | 4080847 BigJim
BigJim's picture

Tax cheese.

Tue, 10/22/2013 - 18:53 | 4081135 MisterMousePotato
MisterMousePotato's picture

And monkeys.

Wed, 10/23/2013 - 02:39 | 4081958 StychoKiller
StychoKiller's picture

Ahh oui, your minkey... :>D

Tue, 10/22/2013 - 17:01 | 4080801 yogibear
yogibear's picture

US dollar continues dropping. To the lows we go.

Tue, 10/22/2013 - 18:52 | 4081133 Ghordius
Ghordius's picture

then short the French Franc

Tue, 10/22/2013 - 17:02 | 4080809 Herkimer Jerkimer
Herkimer Jerkimer's picture

'

'

'

Sounds like France is a bug in search of a window.

 

•?•
V-V

Tue, 10/22/2013 - 20:00 | 4081287 Twodogs
Twodogs's picture

Dontcha mean a bug in search of a bug zapper? Economic suicide, bitchez!

Tue, 10/22/2013 - 17:03 | 4080811 Surging Chaos
Surging Chaos's picture

When all else fails (and we all know these taxes WILL fail), everyone will get Cyprused.

Tue, 10/22/2013 - 17:35 | 4080913 Poor Grogman
Poor Grogman's picture

That is just a slightly bigger can kick.

The problem of socialism remains...

Tue, 10/22/2013 - 17:05 | 4080816 RealityCheque
RealityCheque's picture

And lets get really creative with new taxes:

Window tax

Hair tax - both head and underpants based, other wise everyone would just shave their heads

Horse tax - for those trying to get out of paying car tax

Sex tax - all females to be fitted with chastity belts that only open using a token from the gubbermint. All for the low low price of €100 a fuck

Water tax.... wait that one's already real!? What the holy fuck!!

Tue, 10/22/2013 - 18:11 | 4081032 Oldwood
Oldwood's picture

I get taxed for the rain that lands on my property. Seriously. Even if it doesn't rain. Based on projections of what it would cost to "clean" my rainwater if it did rain. $629/yr.

Tue, 10/22/2013 - 17:05 | 4080818 starfcker
starfcker's picture

there ain't gonna be no revolution. lots of people are unhappy, getting screwed, whatever, no question about it. but the conditions for revolt aren't even close. don't forget globalization is an american project, and not only do we hold the best cards,(grc, nukes, food surplus, etc.) we are the dealer as well. what we give we can damn sure take away. not that i'm happy about it, but i don't think i'm wrong. it's a giant, all in proposition, and like any big undertaking a certain amount is being devised on the fly, very turbulent for sure. besides, if a revolt did break out, even if it were close by, with the flick of a kill switch you won't know about it. now back to our regularly scheduled program...

Tue, 10/22/2013 - 17:11 | 4080843 NOTaREALmerican
NOTaREALmerican's picture

Re:  lots of people are unhappy, getting screwed

People are alwasy unhappy.   But, overall, this is the best time in the history of the planet to be a serf.  

And, humanity should be proud of that.   We really do now have a chicken in every pot.  And, what else can you really want?

(Ok, maybe some bling,   so a chicken in every pimped-out Chrysler 300, but that's possible now too).

Tue, 10/22/2013 - 18:45 | 4081118 Nick Jihad
Nick Jihad's picture

A revolt might not be as dramatic as your notions of a revolt. It might consist of men deciding to just "go through the motions",  as in the USSR, or becoming herbivorous, as in Japan, or working in the gray economy, as in Europe.

Wed, 10/23/2013 - 04:53 | 4082048 starfcker
starfcker's picture

nick, that's a good point, but you're forgeting one thing. the head of the snake no longer needs us to be obedient productive citizens. money printing and offshoring frees them from the constraints of all that. they just need bodies, parked in a section 8, near a walmart. i disagree that this is going to collapse into some sort of economic civil war. guys like you and i who want a little more out of life will have to be a little more clever and work a little harder. i wish i could remember who commented last week that most of us on this blog are pretty good at cutting deals, so get out there and revamp your situation. you might not like it, i sure don't, but it is certainly doable for most of us. the low skill people swallow their pride and take the handout. 

Tue, 10/22/2013 - 17:13 | 4080835 Dr. Engali
Dr. Engali's picture

In France they have monkeys throwing darts, in the U.S our monkeys throw hand grenades. Yeah we're motherfucking number 1 again!

Tue, 10/22/2013 - 17:12 | 4080845 knukles
knukles's picture

Fuck the French

Tue, 10/22/2013 - 17:36 | 4080917 kaiserhoff
kaiserhoff's picture

If you've ever been around a gualoises in an enclosed space,

  you never forget it..., no matter how hard you try.

Tue, 10/22/2013 - 18:57 | 4081150 MisterMousePotato
MisterMousePotato's picture

My grandmother smoked Gauloises and Gitanes all her 94 years. She would smoke while cooking without flicking the ash. It would sometimes grow over an inch long.

Tue, 10/22/2013 - 17:59 | 4080979 mick_richfield
mick_richfield's picture

Hey!  Maybe they can tax the Americans for using all that prime real estate in Colleville-sur-Mer to keep their dead soldiers buried in!

 

Tue, 10/22/2013 - 17:15 | 4080852 q99x2
q99x2's picture

It costs more now, to support oligarchs, than it did before.

Eventually they end up getting their heads loped off. Ho Hum.

Tue, 10/22/2013 - 17:16 | 4080856 Seasmoke
Seasmoke's picture

The sign on the White House door says Tax Pause Tomorrow.

Tue, 10/22/2013 - 17:25 | 4080859 falak pema
falak pema's picture

well there is an old saying in France ; even the dead are made to vote by certain politicians. 

Maybe the new trend is to make the dead pay taxes as well.

Its very much the rage; when a guy like John Major wants to tax the rich in UK. He had some nice things to say about the Conservatives, his party, which apply for sure to the GOP and the french equivalent, the UMP : 

The right wing parties (Conservatives) only conspire against their own. (That has been amply proven by GOP "civil war".

The  left wing parties (Labour) are more egalitarian they conspire against everybody, and they tax everybody.

That sums it up very well in all three countries.

Moving on to more pressing things in the field of doom and gloom; humanity having lost its boom wisdom tooth...

I like the new catch phrase of the coming decade : TCNTF tm

the "too corrupt not to fail". 

They are the prime people to tax! They will go down anyway. As you've noticed JPM is top on that list.

 

Tue, 10/22/2013 - 17:46 | 4080946 forwardho
forwardho's picture

Falak, always your comments are thought provoking.

But is not the the death tax, very much what you speak of?

To take 50% of your net worth, at the time of your death, is contemptable.

Tue, 10/22/2013 - 18:04 | 4080994 falak pema
falak pema's picture

the death tax you talk about is inheritance tax. That's old hat. For children inheriting their parent's wealth in France its a sliding scale which maxes at 20%. I don't know how that compares with other nations. It maxes at 60% only for non filial inheritors.

I'm talking about income taxing the dead; now that would truly be a french paradox, a world premier!

(Just kidding, its not something those government shills are thinking of but you never know, when the banks blow up they will Cyprus the rich and corporates. No other choice!).

 

Tue, 10/22/2013 - 18:15 | 4081045 Oldwood
Oldwood's picture

If they could they would as they always go after those who can't touch them. They have had to instead resorting to taxing those who are yet to be born. Unfortunately as even this is based on projections that are predictably flawed, we may have to reach out to interstellar communities for a broader tax base.

Tue, 10/22/2013 - 18:19 | 4081060 Diogenes
Diogenes's picture

Canada taxes the dead. When a person dies they are deemed to have sold everything they leave behind and must pay income tax on the profit. No estate can be settled until Revenue Canada issues a certificate saying the tax has been paid. This takes several years.

Tue, 10/22/2013 - 17:29 | 4080869 agent default
agent default's picture

They should consider a tax on slamming gold at the close. 

Tue, 10/22/2013 - 17:23 | 4080870 yrad
yrad's picture

If there was a ZH tax I would be broke by next Friday.

Tue, 10/22/2013 - 18:16 | 4081050 Emergency Ward
Emergency Ward's picture

They could progressively tax UP ARROWS and have a tax credit for DOWN ARROWS.

Tue, 10/22/2013 - 17:27 | 4080885 Printfaster
Printfaster's picture

Time to bring back the tax on bread and flour.

So they can refurbish the Bastille.

Tue, 10/22/2013 - 17:39 | 4080924 Mark_BC
Mark_BC's picture

Will they institute the only tax that will work -- a wealth tax?

Tue, 10/22/2013 - 17:49 | 4080954 Keyser
Keyser's picture

How about fiscal responsibility without wealth redistribution?

Tue, 10/22/2013 - 18:05 | 4081009 mick_richfield
mick_richfield's picture

Hey, wait -- I have an idea! 

How about we do away with force in human affairs!

Only allow transactions that are voluntary on both sides, which means you little animals don't get to 'tax' me even if you all vote for it unanimously!

See -- if you want me to pay for something, you would have to convince me I wanted it, or persuade me that I would like to contribute to it! 

And you don't get to put a gun to my head to do the persuasion!

Wow.  Let's try that form of 'government' next, when this putrescence burns to the ground.

Tue, 10/22/2013 - 18:32 | 4081090 Mark_BC
Mark_BC's picture

With a wealth tax, "you" wouldn't pay any taxes at all except a few excise taxes. The fat cats worth billions of dollars would, you know, the ones who've been stealing the middle class' wealth for the last 50-100 years, they would pay.

Tue, 10/22/2013 - 18:40 | 4081108 mick_richfield
mick_richfield's picture

Well, see, how it works is -- if I think force is wrong, I won't use it against others.

And when I get brave enough, I won't allow it to be used against me.

See how that works?

 

Tue, 10/22/2013 - 20:48 | 4081388 Tall Tom
Tall Tom's picture

Since you advocate volunteerism, which is THE NOBLE IDEAL, is it right to force Socialists to adhere to that Libertarian Standard?

 

That is the reason WHY WE are destined for FAILURE. Unless WE can have them voluntarily change their minds then we are pissing in the wind. Some group will decide to collectivise and decide that stealing your Wealth is okay.

 

There is no Political Solution. You might attempt to set yourself up in a Libertarian Community. But even those will end up failing as someone will be satisfied with rundown roads and freeload off of the others who will pay to repair them.

 

There is just too much evidence as I can show you the state of the Libertaian Road in front of my place and contrast it with the state of the coerced Road (Taxes) to the side. Which do you bet is in a state of disrepair?

 

I really like the ideal. I ascribe to the ideal. But reality bites me in the ass. Then I understand that there is no Political Solutionn and pray for my Death.

Tue, 10/22/2013 - 19:17 | 4081202 Buckaroo Banzai
Buckaroo Banzai's picture

"With a wealth tax, "you" wouldn't pay any taxes at all except a few excise taxes."

What you just said here is a fucking great idea, except for the stupid part about the wealth tax.

Tue, 10/22/2013 - 20:27 | 4081341 General Decline
General Decline's picture

People really need to stop wasting time debating on how to reform the tax system and concentrate on how to best starve the beast.

Wed, 10/23/2013 - 20:48 | 4084715 Martian Moon
Martian Moon's picture

+1000

well said, and so simple it hurts

Tue, 10/22/2013 - 17:40 | 4080928 Joebloinvestor
Joebloinvestor's picture

France, where the solution for a failing socialist state is to elect a bigger socialist.

Take a guess on how that is working out.

Tue, 10/22/2013 - 18:06 | 4081014 mick_richfield
mick_richfield's picture

My hope for the French is the same as my hope for myself.

I hope we all get exactly what we deserve, and soon. 

Please, soon.

Tue, 10/22/2013 - 19:13 | 4081186 lotsoffun
lotsoffun's picture

on the one hand, paris is 20% arabs.  on the other hand, they really don't want to go back to momo-lands.  so, they can probably take some pretty big 'free stuff' cuts.

 

Tue, 10/22/2013 - 22:10 | 4081571 laosuwan
laosuwan's picture

demographically france will be black and muslim in 20 years, tops. I dont worry so much about what will become of france as I do what will become of its nuclear warheads

Tue, 10/22/2013 - 17:41 | 4080932 Joebloinvestor
Joebloinvestor's picture

Tax the US for spying on them!

Tue, 10/22/2013 - 17:42 | 4080934 gearbaby
gearbaby's picture

"We have reached a time where it’s imperative to look abroad at different options and opportunities. Clinging to blind patriotism– staying home, doing nothing, and trusting your government– is akin to taking a toaster into the bathtub."

Hey, look abroad and try Ecuador...

http://yourescapetoecuador.com/retirement/why-should-you-retire-in-ecuad...

 

 

Tue, 10/22/2013 - 17:51 | 4080959 Calmyourself
Calmyourself's picture

And yet the French keep chugging along..  We have the reserve currency and some of us here expect some sort of horrendous collapse, never going to happen just a slow slide to 3rd world status for the middle class.  The best part, the middle class will take it, because for the most part they are stupid, anesthetized sheep.

Tue, 10/22/2013 - 18:07 | 4080982 French_Fries
French_Fries's picture

Sorry for my english. That tax is not the most important thing, that's just another slap in the people's face. The country is already broken. The most important thing, it's from Paris to Marseille, most people are upset, show more and more anger. Even the old catholic bourgeoisie, even constitued corp. (army*, police, fireman, hospital, administration, etc), workers, middle-class... Old left and right wings "clivage" does not work anymore, even this, it's broke. Holland is the most hated president form the history of the french républic (only 23% of "sympathizers" (?)).Libya and syria (and afganistan) was a total mess. EUSSR is a total mess too. Corruption and collusion between public sector and private/financial sector is everywhere at his highest. Could end badly.

 

* http://minu.me/b0rs

 

 

Tue, 10/22/2013 - 18:15 | 4081044 W74
W74's picture

Don't forget about that little foray into MALI.

Tue, 10/22/2013 - 18:40 | 4081107 Calmyourself
Calmyourself's picture

"Could end badly"  with what slingshots or curse words, the French turned their muskets in..

Tue, 10/22/2013 - 18:01 | 4080989 Goldilocks
Goldilocks's picture

Evanescence - Bring Me To Life
http://www.youtube.com/watch?v=3YxaaGgTQYM (4:14)

Tue, 10/22/2013 - 18:02 | 4080996 orangegeek
orangegeek's picture

taxes go higher, black market gets bigger

Do NOT follow this link or you will be banned from the site!