Les Pigeons

French Premier François Hollande has, comme on dit en anglais, set the cat amongst the pigeons. The pigeons, French slang for suckers, are the individual entrepreneurs who are amongst the victims of Hollande’s tax-and-spend (and then tax some more).

“We are the result of the anti-economic policy of the government that has decided to take the thousands of entrepreneurs in this country for suckers (pigeons) and annihilate entrepreneurship,” their manifesto explains.

Serial entrepreneur Pierre Chappaz explains the problem: Au revoir les startups.

Je ne connais pas un seul fondateur de startup qui acceptera l’idée qu’en créant une entreprise dans laquelle il va investir toutes ses économies et des années d’efforts, souvent sans se payer, il donnera à l’Etat 60,5% de son gain quand il vendra sa boite s’il réussit. Il faut savoir que 9 startups sur 10 échouent, et dans ce cas personne ne rembourse le fondateur.

Ensuite, sur les 39,5% qui lui resteront, il paiera 1 à 2% par an, tous les ans, c’est l’ISF.

Et quand il mourra, l’Etat prendra 45% de ce qui reste.

In memoriam.

Il n’y aura bientôt plus de startups en France.

Actually, it’s not just the startups. Hollande’s policies are killing the entire private sector. One can only presume that this is intentional.

French service providers reported a steeper decrease in business activity during September. The latest fall in activity reflected a considerable drop in incoming new work. Companies adjusted staffing levels down accordingly, leading to an accelerated drop in employment. Input prices rose at a sharper rate but output charge discounting gathered pace, highlighting a deepening squeeze on companies’ margins. Future expectations meanwhile dipped into negative territory for the first time since February 2009.

Maybe France will be the dark horse that beats Spain to the next bailout. The problem is, even Germany isn’t rich enough to bail out France.

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