Ho hum… Another protest in Paris.
This bright red banner says, “Contre l’injustice fiscale/Taxer le capital/Non à l’augmentation de la TVA.”
These folks français are against their concept of fiscal injustice. The banner tells us that they want to tax capital rather than raising the rate of the TVA, better known to Americans as the Value Added Tax or VAT.
The giant white lettering against the brilliant red (the perfect complement to anything communist) is eye-catching and easy to read. The main points are in bold. The protesters holding the sign are doing a marvelous job of holding it taut and straight to be seen far and wide.
This banner is ameliorated by red flags and balloons–with a few white ones with red lettering thrown im–held by those standing just behind the banner. This group cannot be missed as they parade down the street or perhaps simply stand in place.
Let’s see–capital is defined as “money and/or assets possessed with the purpose of investing or starting a company.” The French have an unemployment rate of 10.5% as opposed to the United States which is 6.1% while Germany next door has a rate of 4.9%.
So, France has an unemployment rate approaching double the U.S. and more than double Germany, but they want to further hamper the creation of jobs by taxing capital (more likely increasing the tax rate already in place)?
Il n’y a personne qui pense en France? Nous croyons que non! (Is there no one in France who thinks? We think not!)
The VAT–TVA en français–is a hefty consumption tax on certain goods and services purchased in France from the standard high of 20% to a low of 2.1% on medical drugs disbursed by the French medical system. Keeping track of this massive transfer of money requires careful accounting. Something like this is definitely needed to make sure no money is wasted.
One can choose whether or not to purchase more than the necessities of life, thus moderating the amount of one’s taxes. But taxing job creating capital?!
Oh là là! Fewer jobs, fewer taxes, fewer necessary services begets still fewer taxes and a greater drain on the nation. Coming stateside…