Post by rmarks1 on Jan 4, 2014 20:49:05 GMT -5
It's a stretch, but what is happening today in France is being compared to the revocation of 1685. In that year, Louis XIV, the Sun King who built the Palace of Versailles, revoked the Edict of Nantes, which had protected French Protestants - the Huguenots. Trying to unite his kingdom by a common religion, the king closed churches and persecuted the Huguenots. As a result, nearly 700,000 of them fled France, seeking asylum in England, Sweden, Switzerland, South Africa and other countries.
The Huguenots, nearly a million strong before 1685, were thought of as the worker bees of France. They left without money, but took with them their many and various skills. They left France with a noticeable brain drain.
Since the arrival of Socialist President François Hollande in 2012, income tax and social security contributions in France have skyrocketed. The top tax rate is 75 percent, and a great many pay in excess of 70 percent.
As a result, there has been a frantic bolt for the border by the very people who create economic growth - business leaders, innovators, creative thinkers, and top executives. They are all leaving France to develop their talents elsewhere....
Granted, there is much to be grateful for in France. An economy that boasts successful infrastructure such as its high-speed rail service, the TGV, and Airbus, as well as international businesses like the luxury goods conglomerate LMVH, all of which define French excellence. It has the best agricultural industry in Europe. Its tourism industry is one of the best in the world.
But the past two years have seen a steady, noticeable decline in France. There is a grayness that the heavy hand of socialism casts. It is increasingly difficult to start a small business when you cannot fire useless employees and hire fresh new talent. Like the Huguenots, young graduates see no future and plan their escape to London....
When I began to look around, I saw people taking wild advantage of the system. I had friends who belonged to trade unions, which allowed them to take entire summers off and collect 55 percent unemployment pay. From the time he was an able-bodied 30-year-old, a cameraman friend worked five months a year and spent the remaining seven months collecting state subsidies from the comfort of his house in the south of France.
Another banker friend spent her three-month paid maternity leave sailing around Guadeloupe - as it is part of France, she continued to receive all the benefits.
Yet another banker friend got fired, then took off nearly three years to find a new job, because the state was paying her so long as she had no job. "Why not? I deserve it," she said when I questioned her. "I paid my benefits into the system." Hers is an attitude widely shared.
When you retire, you are well cared for. There are 36 special retirement regimes - which means, for example, a female hospital worker or a train driver can retire earlier than those in the private sector because of their "harsh working conditions," even though they can never be fired.
But all this handing out of money left the state bankrupt.
mag.newsweek.com/2014/01/03/france-hollande.html
The Huguenots, nearly a million strong before 1685, were thought of as the worker bees of France. They left without money, but took with them their many and various skills. They left France with a noticeable brain drain.
Since the arrival of Socialist President François Hollande in 2012, income tax and social security contributions in France have skyrocketed. The top tax rate is 75 percent, and a great many pay in excess of 70 percent.
As a result, there has been a frantic bolt for the border by the very people who create economic growth - business leaders, innovators, creative thinkers, and top executives. They are all leaving France to develop their talents elsewhere....
Granted, there is much to be grateful for in France. An economy that boasts successful infrastructure such as its high-speed rail service, the TGV, and Airbus, as well as international businesses like the luxury goods conglomerate LMVH, all of which define French excellence. It has the best agricultural industry in Europe. Its tourism industry is one of the best in the world.
But the past two years have seen a steady, noticeable decline in France. There is a grayness that the heavy hand of socialism casts. It is increasingly difficult to start a small business when you cannot fire useless employees and hire fresh new talent. Like the Huguenots, young graduates see no future and plan their escape to London....
When I began to look around, I saw people taking wild advantage of the system. I had friends who belonged to trade unions, which allowed them to take entire summers off and collect 55 percent unemployment pay. From the time he was an able-bodied 30-year-old, a cameraman friend worked five months a year and spent the remaining seven months collecting state subsidies from the comfort of his house in the south of France.
Another banker friend spent her three-month paid maternity leave sailing around Guadeloupe - as it is part of France, she continued to receive all the benefits.
Yet another banker friend got fired, then took off nearly three years to find a new job, because the state was paying her so long as she had no job. "Why not? I deserve it," she said when I questioned her. "I paid my benefits into the system." Hers is an attitude widely shared.
When you retire, you are well cared for. There are 36 special retirement regimes - which means, for example, a female hospital worker or a train driver can retire earlier than those in the private sector because of their "harsh working conditions," even though they can never be fired.
But all this handing out of money left the state bankrupt.
mag.newsweek.com/2014/01/03/france-hollande.html
Bob