Sunday, October 8, 2017

Macron's ruling party of France to legislate new tax on gold and silver

On Oct. 8, the ruling party of French leader Emmanuel Macron decided to offer new legislation which would act as a 'tax on the rich' in the wake of Macron's earlier attempts to abolish France's 'wealth tax'.


And while the legislation primarily focuses on luxury items such as yachts and high priced sports cars, it also hits squarely with the common man since the new tax proposal would institute higher fees on the purchase of gold, silver, and other precious metals.

Lawmakers from Emmanuel Macron’s party will propose an amendment to France’s 2018 budget to tax luxury yachts, supercars and precious metals, a senior party official said, after opponents attacked the president’s move to scrap France’s wealth tax. 
Macron last week made good on a campaign pledge to abolish the wealth tax, a symbol of social justice for the left but blamed by others for driving thousands of millionaires abroad. 
Left-wing opponents said the move was proof Macron was a “president of the rich”, a label the former Rothschild banker has been struggling to shake off since taking office in May. 
A planned nationwide strike by public workers on Tuesday will put more pressure on Macron. 
The wealth tax, introduced by the Socialists in the 1980s, was levied on individuals with assets above 1.3 million euros ($1.5 million). - Reuters

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