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Posted: 7/5/2012 10:07:20 AM EDT

The new French Socialist government has promised to reinstate the country’s old wealth tax rate and increase income tax, enough to make wealthy taxpayers think seriously about leaving for greener Swiss pastures.

"If François Hollande is elected president and the Left get a majority in parliament, the wealthy will move abroad,” warned Swiss lawyer and tax specialist Philippe Kenel in April.

Two months later, all the conditions for an "exodus” are fulfilled: the Socialist Party has an absolute majority the national assembly and its tax programme will be approved in the coming weeks.

"Taxpayers have been getting in touch with me, what I predicted has started,” admits Kenel. His Paris colleague Eric Ginter confirms that clients are worried, asking how to go about  leaving the country with their assets.


I hope this turns out the same way it did for Maryland when they pulled the same shit. - TS

Link Posted: 7/5/2012 10:08:22 AM EDT
Surprise surprise.
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