Mike “Mish” Shedlock's
Sitka Pacific Capital Management,Llc
Congratulations are in order. France just topped Denmark as the most taxed nation.
The OECD reports Tax Revenues Rise.
The 2018 edition of the OECD’s annual Revenue Statistics 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.
France Overtakes Denmark
The tax collection blue ribbon now goes to France. Congratulations!
Vs the OECD average of 34.2%, French taxes amount to 46.2% of GDP. Denmark, Sweden, Italy, and Greece round out the top five.
In addition to the blue ribbon, what else does France get?
Riots
Amusingly, it was a promise delivered: Macron Promised a Revolution, He Got One, Against Himself
In response, I offer this bit of political advice: Politicians Beware: It's Best Not to Deliver What You Actually Promise.
How Did This All Start?
Good question.
Macron raised diesel taxes to pay for the global warming reduction effort that he campaigned for.
Where Are We Now?
That's another good question.
In response to the riots, please note: France Suspends Diesel Tax Hike.
Musical Tribute
I am certain readers would like a fitting musical tribute to these events. I posted this before but who can resist another Beatles tribute?
Comment of the Day
You say you want a revolution. Well, you know. We all want to change the world.
This material is based upon information that Sitka Pacific Capital Management considers reliable and endeavors to keep current, Sitka Pacific Capital Management does not assure that this material is accurate, current or complete, and it should not be relied upon as such.
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