Monday, February 12, 2007
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Ségolène Royal's democratic socialism
When the International Herald-Tribune characterizes an economic program as "far-left," it's time to click over and see what all the fuss is about:
Ségolène Royal, the presidential candidate of the Socialist Party, unveiled a long- awaited platform on Sunday, veering sharply to the left on economic policy while also stressing discipline and "traditional values."At this time, there is no official confirmation that Royal has also promised free ponies to all French children who asked for them.
I have enough of a soft spot for the old Athenian council of 500 to hope that the citizen jury idea could actually work. Beyond that, if Royal wins and actually tries to implement this, it will be the fiscal equivalent of Francois Mitterand's "Keynesianism in One Country" -- with the same results of massive capital flight, recession, and policy retrenchment.
UPDATE: Over at U.S. News and World Report,James Pethokoukis blogs about another prominent politician who's big into taxing profits.posted by Dan on 02.12.07 at 09:25 AM
Royal said she would tax companies in relation to what share of their profits is reinvested in equipment and jobs, and what portion is paid to shareholders.
Don't most countries around the world do this already? Whatever a company reinvests in equipment and jobs is not profits, and therefore is taxed in a different way.posted by: Tracy W on 02.12.07 at 09:25 AM [permalink]
If the French people are foolish enough to elect her after this, they deserve what they will get.posted by: Lexington Green on 02.12.07 at 09:25 AM [permalink]
"her ideas had been nourished in 6,000 debates with citizens throughout France"
Apparently, she has been debating these very ideas, every day for the last twenty years, in order to get to this point.
Skposted by: sk on 02.12.07 at 09:25 AM [permalink]
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