Feeds:
Posts
Comments

Archive for November 25th, 2018

French President Emmanuel Macron is called “The President of the Rich” for a reason.

Paris has been in flames over Macron’s insistence to shift much of the tax burden from the rich and corporations to the 99 percent. Much of the US corporate news media would have you believe the riots are simply being played out because of an increase in fuel taxes of which the stated purpose is to cut greenhouse gas emissions by reducing consumption.

Now here is what much of the US news media does not want you to know.

Macron reduced taxes on the wealthy and corporations and then increased government investments, which included spending to reduce school class sizes, improve instruction in poor neighborhoods, add services for the learning-disabled, and bolster vocational training for the unemployed. Macron is also helping out his rich corporate buddies by having the government increase subsidizing research in the burgeoning field of artificial intelligence that promises to revolutionize transportation, health care, and defense, as well as increase corporate profits, dividends and share prices, most of which will redound to the richest of investors at public expense, and especially at the expense of the poor and working class who are now paying higher taxes to fund these programs.

Needless to say, reducing tax revenues while increasing government spending meant Macron had to do something to staunch the bleeding government coffers by increasing taxes on the 99 percent. He did this by raising taxes on fuel, allegedly to accelerate the shift from carbon-emitting fossil fuels that cause global warming. He also increased other taxes paid by the 99 percent.

“You are committing violence with your policy. It’s you that are going after the poor to give to the rich!” thundered François Ruffin, a firebrand of the leftist France Unbowed party.

Mr. Macron was guilty of a “heavy moral, economic, and historical sin,” the best-selling economist Thomas Piketty wrote in the newspaper Le Monde.

Notice the massive difference between what occurs when the tax burden is shifted from the rich to the poor in France and in the USA. We in the USA have become quite docile with our GMO sodas, beer, and cupcakes as our income and wealth has been redistributed to the 99 percent over the last forty years. The US affluent now steal around 37 percent of the total income produced in the USA compared to 8 percent forty years ago, and government policies have been the conduit by which the rich have achieved this at the expense of the rest of us. We in the USA do nothing about it but lazily buy into these policies.

Macron Economic Reforms Stronger Than Trump Tax Cuts–CNBC

Advertisements

Read Full Post »

%d bloggers like this: