Thursday, June 21, 2012

Those Damned Rich......where did they go?

    How do you balance your budget?  Well, in the olden days you had to decide what you could afford and what you had to do without.  Most of us learned how to cook in school in the 50's and 60's, along with civics, sewing, bookkeeping, and of course history.  Raise your hand if you can make a pound of hamburg feed a family of four for a week.
  Our country is lazy and cheers are heard when another government agency is created or more programs for the poor, who may soon be the majority, are extended.  The problem is the wagon is too full and us out here in "pay the taxes land" are too few to pull it.  We seem to have a king as president today and that seems fine with those who are just happy being the "subjects."


THE government needs to find an extra €10billion to meet the needs agreed in the 2012 budget at the start of the year.
“It is perfectly true”, said Minister Alain Vidalies when asked if this was the figure they were looking for in Questions d’Info (LCP/AFP/France Info).
However he insisted: “The fact that €10billion is lacking at the end of June is not the responsibility of a government or majority that is in place since May 16... It’s not we who are going to accept responsibility.”
Plugging the gap will be one of the main aims of a “corrective finance bill” to be debated in parliament next month, said Mr Vidalies, whose portfolio covers relations between government and parliament.
It is planned that about €4billion will be saved by axing Sarkozy measures which exempt businesses from paying social charges on employees’ overtime, and which exempt overtime work from income tax.
Other measures planned include:
• Immediately swapping back to last year’s tougher wealth tax banding (though it is not yet clear how it will deal with the fact that many people have already paid their tax for this year and all the declarations have been made),
• A new ceiling on the amount of tax that can be saved through niches fiscales (ways of investing so as to pay less income tax),
• A new tax (possibly 3%) on shareholder dividends,
• Changes to the law on inheritance and gift tax (eg. lengthening the period which must elapse before the gift tax allowance is regained after using up the entitlement).


 A top EU bailout official warned the eurozone Thursday that it must order Greece to make fresh budget cuts or raise more taxes, or eurozone members will have to cough up more cash themselves.

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