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Les Miserables? France Overtakes Denmark As World's Most Taxed Nation
12-07-2018, 06:29 AM,
#1
Les Miserables? France Overtakes Denmark As World's Most Taxed Nation
Les Miserables? France Overtakes Denmark As World's Most Taxed Nation

<p><a href="https://moneymaven.io/mishtalk/economics/france-overtakes-denmark-for-top-spot-in-most-taxes-as-percent-of-gdp-sgx6NXD-aUm3beUoAsvJhw/"><em>Authored by Mike Shedlock via MishTalk,</em></a></p>

<p><strong>Congratulations are in order. France just topped Denmark as the most taxed nation.</strong></p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%288%29_11.jpg?itok=aTxh1GMn" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%288%29_11.jpg?itok=aTxh1GMn"><img data-entity-type="file" data-entity-uuid="9518dd34-1356-4fee-8ed6-81ffa699ecf1" data-responsive-image-style="inline_images" height="415" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%288%29_11.jpg?itok=aTxh1GMn 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%288%29_11.jpg" alt="" typeof="foaf:Image" /></a></p>

<p>The OECD reports <a href="https://www.oecd.org/tax/tax-revenues-continue-increasing-as-the-tax-mix-shifts-further-towards-corporate-and-consumption-taxes.htm">Tax Revenues Rise</a>.</p>

<blockquote>
<p>The 2018 edition of the OECD’s annual <a href="https://www.oecd.org/tax/revenue-statistics-2522770x.htm"><em><strong>Revenue Statistics</strong></em></a>publication shows that the OECD average tax-to-GDP ratio rose slightly in 2017, to 34.2%, compared to 34.0% in 2016. The OECD average is now higher than at any previous point, including its earlier peaks of 33.8% in 2000 and 33.6% in 2007.</p>
</blockquote>

<h3><u><strong>France Overtakes Denmark</strong></u></h3>

<p>The tax collection blue ribbon now goes to France. Congratulations!</p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%289%29_9.jpg?itok=0a33xllX" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%289%29_9.jpg?itok=0a33xllX"><img data-entity-type="file" data-entity-uuid="b66e220d-3b02-45f4-8166-6bcf17523991" data-responsive-image-style="inline_images" height="351" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%289%29_9.jpg?itok=0a33xllX 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%289%29_9.jpg" alt="" typeof="foaf:Image" /></a></p>

<p><strong>Vs the OECD average of 34.2%, French taxes amount to 46.2% of GDP.</strong> Denmark, Sweden, Italy, and Greece round out the top five.</p>

<p>In addition to the blue ribbon, what else does France get?</p>

<h3><u><strong>Riots</strong></u></h3>

<p>Amusingly, it was a promise delivered: <a href="https://moneymaven.io/mishtalk/economics/promise-delivered-macron-promised-a-revolution-he-got-one-against-himself-YfG_YdyAZEeo8O6mQ5MkIA/">Macron Promised a Revolution, He Got One, Against Himself</a></p>

<p>In response, I offer this bit of political advice: <a href="https://moneymaven.io/mishtalk/economics/politicians-beware-it-s-best-not-to-deliver-what-you-actually-promise-oNdJgygxfUCaibe9JKVEBA/">Politicians Beware: It's Best Not to Deliver What You Actually Promise</a>.</p>

<h3><u><strong>How Did This All Start?</strong></u></h3>

<p>Good question.</p>

<p>Macron raised diesel taxes to pay for the global warming reduction effort that he campaigned for.</p>

<p>​<a data-image-external-href="" data-image-href="/sites/default/files/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%2810%29_7.jpg?itok=Pxeko-Vb" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%2810%29_7.jpg?itok=Pxeko-Vb"><img data-entity-type="file" data-entity-uuid="688c3735-683e-4367-9bb2-393970295c48" data-responsive-image-style="inline_images" height="354" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%2810%29_7.jpg?itok=Pxeko-Vb 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/https_%252F%252Fs3-us-west-2.amazonaws%20%2810%29_7.jpg" alt="" typeof="foaf:Image" /></a></p>

<h3><u><strong>Where Are We Now?</strong></u></h3>

<p>That's another good question.</p>

<p>In response to the riots, please note: <a href="https://moneymaven.io/mishtalk/economics/france-suspends-diesel-tax-hike-yts2FV2qjE-p54OAVxCXDw/">France Suspends Diesel Tax Hike</a>.</p>

<h3><u><strong>Musical Tribute</strong></u></h3>

<p>I am certain readers would like a fitting musical tribute to these events. I posted this before but who can resist another Beatles tribute?</p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/BGLGzRXY5Bw" width="560"></iframe></p>

<h3><u><strong>Comment of the Day</strong></u></h3>

<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en" xml:lang="en" xml:lang="en"><a href="https://t.co/tvCn5CrZfj">https://t.co/tvCn5CrZfj</a><br /><br />
Comment of the day from my blog<br /><br />
"A bunch of rich people get together and decide that they need to fight climate change. They decide the best way to achieve this is by taxing poor people. Utter shock when the poor people start rioting."</p>
— Mike Mish Shedlock (@MishGEA) <a href="https://twitter.com/MishGEA/status/1070097371596509184?ref_src=twsrc%5Etfw">December 4, 2018</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p><em>You say you want a revolution. Well, you know. We all want to change the world.</em></p><img src="http://feeds.feedburner.com/~r/zerohedge/feed/~4/4wVBUhlldK4" height="1" width="1" alt=""/>


http://feedproxy.google.com/~r/zerohedge...xed-nation
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