Socialist France Losing Citizens

0 Shares
french_image

It turns out socialists know how to grow the economy in one segment of the market: real estate.

French real estate agency figures show that following the country’s recent election of a socialist president and political majority, wealthy Frenchmen are opting to move out of the country.

From The Telegraph:

Sotheby’s Realty, the estate agent arm of the British auction house, said its French offices sold more than 100 properties over 1.7 million euros between April and June this year – a marked increase on the same period in 2011.

Alexander Kraft, head of Sotheby’s Realty, France, said: “The result of the presidential election has had a real impact on our sales.

The exodus is most likely the result of a round of “share the wealth” proposals being considered by French socialist leaders. The government is currently in the process of trying to implement a 75 percent tax rate on French taxpayers earning more than 1 million euros yearly and a tax raise on the middle class in the country from 41 to 45 percent.

France’s Prime Minister Jean-Marc Ayrault has promised the new government will quickly enact a number of other socialist reforms as well. These include plans to construct more than a 500,000 new public housing units each year, the right for same-sex couples to get married and adopt children, a higher minimum wage and the right to vote in municipal elections for documented immigrants who have resided in France more than five years.

Personal Liberty

Sam Rolley

Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After covering community news and politics, Rolley took a position at Personal Liberty Media Group where could better hone his focus on his true passions: national politics and liberty issues. In his daily columns and reports, Rolley works to help readers understand which lies are perpetuated by the mainstream media and to stay on top of issues ignored by more conventional media outlets.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.