French Socialist's big idea: tax the rich

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  • A1994 Centerville, UT
    April 3, 2012 7:43 p.m.


    France has been a nation a longer than the U.S (in one form or another.) In fact, a lot of nations have existed longer than we have. Why, then, has the United States FAR exceeded anything any other nation could dream of? Why have the biggest inventions, which have benefited the entire world, come from America? Because of capitalism. If socialism and soaking the rich worked, these nations would be the ones turning out the production and innovation. They aren't and the never will.

  • metamoracoug metamora, IL
    April 3, 2012 2:07 p.m.

    From recent petroleum institute paper:

    Contrary to what some in politics and the media [and on this thread] have said, the oil and natural gas industry currently enjoys no unique tax credits or deductions. Since its inception, the US tax code has allowed corporate tax payers the ability to recover costs and to be taxed only on net income. These cost recovery mechanisms, also known in policy circles as “tax expenditures”, should in no way be confused with “subsidies”, i.e., direct government spending.

    So, is it just me or does it seem like a bad idea to increase taxes on one of the few industries left in the US that still actually employs Americans and at a time when gas prices are over $4 a gallon? Do you think those costs would not get passed on to the consumer?

  • CottageCheese SALT LAKE CITY, UT
    April 3, 2012 1:51 p.m.

    @Esquire -

    C'mon! Its important to keep facts at the forefront when attempting to make a point.

    1. Have you looked at the per gallon government tax rates at the pump lately?
    2. Do you know how much profit oil companies make per gallon of sold gasoline?
    3. Do you know what these "subsidies" you speak of are even for?

    Gather 'round class.

    1. The latest tax I have seen at the pump is 47 cents per gallon.

    2. Oil companies operate at around a 7-9 cents per gallon profit margin.

    Who is making out like bandits here? Oil companies or the government?

    3. Current tax code allows tax companies to deduct expenses associated with research, development and drilling. Typically oil companies hit oil 1 out of every 5 drilled attempts. That is an 80% failure rate. The allowance of the deduction of this expense is an incentive to continue researching, developing and drilling. I know you would probably like to see oil companies fail - but this allows them to more efficiently keep going. If you don't think that is fair - I don't want to see you submitting a mileage expense form to your company's accountant.

  • 2 bits Cottonwood Heights, UT
    April 3, 2012 1:30 p.m.

    So much for Obama supporters claims that what he is doing in America is nothing like what a Socialist leader would do...

  • 2 bits Cottonwood Heights, UT
    April 3, 2012 1:25 p.m.

    President Obama whispering to the French President... "When my election is over... I won't have to face the electorate again and will have more freedom to do this to MY people too".

  • 2 bits Cottonwood Heights, UT
    April 3, 2012 1:22 p.m.

    WOW... what a NEW idea!!!

    I wonder if he got it from President Obama?

  • Esquire Springville, UT
    April 3, 2012 12:57 p.m.

    @ patriot, my experience in and with government over 30+ years tells me you write utter nonsense. If the right wing was honest, they would support the President in abolishing oil company subsidies, but they don't. This only scratches the surface of the hypocrisy of the right wing/Republicans. They want more spending on their pet projects. Socialism is more rampant for corporations than for the middle class citizens of this country. You can spout right wing rhetoric all you like, but the facts are quite another thing.

  • On the other hand Spanish Fork, UT
    April 3, 2012 12:36 p.m.

    @patriot, nice conspiracy theory you've got there.

  • patriot Cedar Hills, UT
    April 3, 2012 12:12 p.m.


    I think it would be helpful for you to educate yourself regarding Obama's policies for the past 3+ years as well as his CZAR appointments and other cabinet members many of which are either outright socialists or even declared communists in the case of Van Jones - the framer of Obamacare. Even casual observers understand the intent of Obamacare as nothing more than a gateway into full socialism - Ronald Reagan warned of this nearly 40 years ago.... Barack Obama IS a socialist - yes I'm afraid much much more than just a progressive. Everything about his man screams socialism including his closest associates (George Soros and others). It would be honest of the man to at least stop hiding from the title of socialist and start embracing it like this character in France who is running for president. Obama is a wolf in sheep's clothing - nothing more...

  • metamoracoug metamora, IL
    April 3, 2012 10:37 a.m.

    Mountainman: France is already hurting economically. France has not balanced its books since 1974. Public debt stands at 90% of GDP and rising. Public spending, at 56% of GDP, gobbles up a bigger chunk of output than in any other euro-zone country—more even than in Sweden. The banks are undercapitalised. Unemployment is higher than at any time since the late 1990s and has not fallen below 7% in nearly 30 years.

    This idea is foolishness at several levels, not the least of which is that the rich French will likely flee across the channel to Britain where they will be taxed at only 45%.

  • Esquire Springville, UT
    April 3, 2012 10:08 a.m.

    Did you see 60 Minutes last Sunday? The story about the art collectors? If ever there was a good justification for increased taxes on the rich, that was it. They aren't reinvesting in the economy to create jobs. Be honest about it. Where is the social contract? The advocates of unfettered capitalism love to roll out Adam Smith, but Adam Smith would roll in his grave. The prophet of capitalism is now Ayn Rand, and that is what could lead to more bad for society than socialism ever will. If you don't want socialism, don't set up the conditions for it by out of control, selfish, narcissistic capitalism and consumption. Keep things up as they are going, and socialism or worse will surely come. Go back and read what Adam Smith said about the concentration of wealth.

    And those of you who think the President is a socialist, get an education. He is far, far from it.

  • Mountanman Hayden, ID
    April 3, 2012 8:07 a.m.

    If this man is elected, France’s economy will plummet! Why? #1: Its a class warfare scam to get uneducated people to vote for you so they can get entitlements for free! #2: The poor pay no taxes already so this is just a scam to raise taxes on EVERYONE as increased taxes always filter down and creates inflation. #3: When the government confiscates more money, that’s less money available for investment into creating wealth, jobs and more taxpayers so tax increases always defeats it purposes for everyone! #4: The wealthy just move their wealth off shore, like Swiss banks or elsewhere or the tax base goes away leaving only those who pay no taxes! This “tax the rich” scam has been tried before and it always fails leaving poverty, suffering and economic chaos. America is already in moving into the latter stages of this inevitable economic collapse as evidenced by our huge national debt, trying to pay for all the entitlements and all the taxes on the rich will never solve our economic problems. But “tax the rich” does get votes, for a little while!

  • SME Kearns, UT
    April 3, 2012 6:57 a.m.

    "Its not a question of return" he said, "its a question of morality".

    Replace morality with fairness and you have Barack Obama. At least the French candidate admits he is a socialist.