MONEY: French tax grab on holiday homes

http://www.telegraph.co.uk/finance/personalfinance/offshorefinance/9377307/Francois-Hollande-announces-French-tax-grab-on-holiday-homes.html

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Francois Hollande announces French tax grab on holiday homes
British owners of holiday homes in France are to be hit with punitive tax rises under plans announced by the new Socialist government.
By Henry Samuel, Paris
9:49PM BST 04 Jul 2012

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Approximately 200,000 Britons own second homes in areas such as the Dordogne and other parts of France, particularly those serviced by budget airlines.

Now, however, holiday home owners find themselves in the sights of President François Hollande as he seeks to tax the better-off to reduce France’s large budget deficit.

On Wednesday (July 4th), the French government announced it was to increase taxes on foreign-owned second homes. Tax on rental income would rise from 20 per cent to 35.5 per cent, and capital gains tax on property sales would rise from 19 per cent to 34.5 per cent. The extra in each case is being labelled a “social charge”.

A Treasury source said on Wednesday night: “We will need to study the details. But we will of course challenge any proposal which breaches European single market laws and anti-discrimination rules.”

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I can’t imagine a dumber attack on property rights.

Why should “We, The Sheeple” care?

Because one Gooferment’s bad idea quickly migrates around the world. Gooferment, like vampires for blood, have an insatiable desire for wealth to spend on this program or that. Without concern for morality, effectiveness, or efficiency. 

Every unit of wealth extracted from the serfs has a “broken glass” effect. It can’t be used by the serf how they’d like to use it. It can’t sate a personal need, saved, or invested. 

We, here in Pepuls Republik of Nu Jerzee, are a classic example of Gooferment creep. Property taxes drive old people from their homes. Income taxes were imposed to provide “property tax relief”. What joke! All the taxes are higher. 

No, the only answer is to resist any and all taxes. No matter how reasonable the excuse, the answer must always be the same: “No!”

And one should insert some salty language to assure that everyone understand just how serious you are.

Then, the follow up should be: “And, while we are on the subject, how can we lower all taxes 10%?” If they politicians and bureaucrats begin to sputter and turn red or blue, then raise the ante. “OK, if you can’t do 10, how bout 20%?” When they turn white, then you’ve got them. They’re dead!

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