French Socialists: We should probably reform this convoluted tax code of ours, huh? « Hot Air: "I missed this last week, but in light of France’s third-quarter return to economic contraction and the anti-tax riots breaking out all over the country, it sounds like a few of the ruling French Socialists were finally moved to definite, growth-oriented action — or at least, to paying lip service to definite, growth-oriented action.
President Francois Hollande’s regime has been marked by back-and-forths on a bunch of new, grandiose taxation schemes, but none of them have done much to accomplish the deficit reductions for which the government has been aiming, and meanwhile, the French economy is struggling under a historically high tax burden. The economy and the employment rate, as you might very well guess, have only yo-yoed around stagnation levels, and the French are getting increasingly displeased with their indecisive and ineffective president as well as their prohibitively high tax rates."
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