Security supply is not guaranteed, energy cost will increase and CO2 emissions will not be reduced. This is an obvious failure that Jean Pierre Riou, President of Mont Champot, has clearly seen. The IREF support his analysis.
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It is not forbidden to former socialist countries to reduce the weight of the state and drastically reduce taxes, especially on businesses. This was done in Sweden and Denmark, where unemployment is lower than in France .
Here is a relevant remarks from Professor Florin Aftalion: the word “profit” has disappeared from the public debate to be replaced by the word “margin”. This semantic shift is not trivial: the profit goes to CEOs and shareholders while the margin is under Government control!
A company is mismanaged when some indicators are in the red such as factory costs higher than those of its competitors; highly unprofitable activities; general and administrative costs much higher than those of its competitors; too many employees in too many locations; outstanding wages and incredible social benefits; various waste; assets sold at low prices and no return on investment; lack of reaction to badly needed reforms.
If the Banque de France’s 2012 financial statements are compared to those of the Bundesbank (German Central Bank), it can be argued that the Banque de France is very poorly managed.
A little more than 30 years ago, George Gilder published a book titled: “Wealth and Poverty”. This book became a worldwide bestseller. As a researcher, an economist and an investor, the author showed that government intervention cannot reduce poverty, but economic growth and economic development can only achieve this goal.
It seems logical: economic growth resumed in the United States, and since the United States used an economic stimulus thanks to budget deficits, it could be believed that public spending lead to recovery. Indeed, but… it is in the sectors that did not benefited from the Federal money that new companies and new jobs were created. And in States that have reduced their public spending (as in some European countries).
This long-debated concept by policy makers and economists is coming back. That is because the Government believes that prosperity cannot be recovered without a strict “austerity policy”. But it actually means higher taxes only. Yet, the latest concerns of the French National Assembly on a substantial fall of tax revenues for 2013 raise the question again: has France reached the top of Laffer’s curve?
France hosted in the November 15th week a summit dedicated to the “Fight Against Youth Unemployment.” This is an excellent initiative for a country where the 16-25 years-old population reached a 26.1 % unemployment rate. Yet, France should be doing what is being done elsewhere, especially in Germany, where the rate of youth unemployment is three times lower than in France: 7.7 %.
According to the Harris Interactive poll for Le Figaro daily and LCP television, French President Hollande would not be reelected in 2017. His fiscal policies are highly criticized and would cost him his reelection. It seems that Holland is discovering this principle : the more taxes, the less votes. Yet, if he is not reelected, what would be next?
Attacks against wealthy people are still going on in spite of the fact the Welfare-State is plundering taxpayers. In a recently published book, sociologists – I should say ideologists – Michel and Monique Pionçon-Charlot are criticizing those they call “deliquents”. No, wealthy people are not offenders or delinquent. They are above all those who create jobs.