France is broke and need to cut something like 130b from it's budget annually by 2030.
If they don't, bond yields will skyrocket making their fiscal pain even more pronounced. They need to raise taxes, cut retiree benefits and raise the retirement age.
Either France does it on their own terms or the bond market will do it for them.
Their social benefits have been much too rich for too long for an economy that isn't growing. It sucks for young people but the math is the math.
France needs a president that will explain that to the French people as most are not experts in bond yields and budget deficits relative to GDP. The last few presidents have tried and the people have responded by rioting.
You say that but France like many European countries have been living beyond their means. Everything is subsidized and government supported (from healthcare, pensions, transportation, education, etc). This worked when France had a smaller population and a bigger working class, but now with those costs growing, it's hard to keep up. The problem is though most people in France don't want to accept the reality that they can't pay for all this anymore. Both young and old aren't willing to make concessions.
this is the 2nd tier fallout from Trump forcing NATO into actual defense spending, after 50+ years of them leaning on the US to fund their security...
Blame it on the USA is fine - we don't give a shit anymore.. If you're letting hoards of the mongrels invade your country, there's nothing left for us to defend. You can take care of yourself at this point.
We always invested in our military, and we barely raised military spending and certainly not because your orange clown asked us to do it.
We don't lean on you for security, in fact we be better without your "security" bringing us the Afghan war, the Irak war, the Iran war, all tremendous success.
We don't need you for security, and you can fuck off from Europe, France will be glad.
In fact we already asked you many years ago to fuck off, and as a result there are no American military base in France.
Who gonna attack france ? Russia who can not even go past ukraine (which you do not support militarilly or economically.)
And may i remind you a little thing call the atomic bomb. Something we have in stock.
Moreover military spending is but a tiny fraction of gvmt spending.
It's always funny to see poor people like you blame poorer people for their problem.
You get fucked over by your pedo oligarchy but yes, lets blame the darker skinned people for the problem.
Im not for emmigration because i think it destroy the job market, creating modern slave who have to work illegally to survive, under cutting french worker.
But if you think emigrant are to blame for the current state of affair, boy you should look up, not down.
listen, I lived in France for almost a decade. outskirts of St Louis, Strasbourg, Paris.
There were sections of many towns where a white person couldn't enter after dusk.. in the mid 90s.
Your country's history of racism and issues WRT north african emigrants is no secret.. That's a major driving factor in the issues your youth are going thru.
It's a major issue in crime. and in housing.. and in income and cost of living.. and it's eroding the country.
and now you've allowed bazillions of illegals to waltz in and own the place..
I’m White, lived in Paris or paris banlieues all my life. And can count on one hand the incident I experienced.
one time pickpocket in metro (don’t know origin)
one time fight in bar (with white people)
One time fight in RER (Arabic)
I can go anywhere and never restricted myself, even if as in any place in the world you need to be self aware.
I spend a year in New York i did not feel any different than in Paris.
Crime is down and historically low according to any serious statistics.
you are just afraid and live in fear but it’s not the reality.
nope... white guy here.. go into muslim sectors of paris, strasbourg, marseille after dark. hell, in the 90s the police wouldn't enter north african parts of Strasbourg. I saw it..with my own eyes.
France's rich and working class are all taxed heavily. The rich are taxed up to nominal rates of up to 55%. In every single country, the working class make up most of a countries budget due to the fact that there aren't a lot of millionaires and billionaires compared to regular people.
Even if you forced the rich to give up 100% of their income and assets, it would only cover the governmental budget for a couple months. Government spend billions per day.
Oh I undesirable the siekung class paying more, but if the poorest cascade decreasing, then the richer classes are increasing. Which should increase income.
Maybe that's not happening, but I was replying to a post saying it was.
rich don't get taxed 55%
This is the high middle class
We speak here of the very rich. The billionaires who pay almost zero taxe, but get a lot of public money.
210 billions euro of public money go every year to the CAC 40 companies who delocalize job, make tax evasion and give the public money in dividend, making the (real) rich always more rich.
The assets of the richest families was multiplied by 5, from 200 to 1000 billions of euros in 10 years. This families pay almost no tax.
So the "rich" middle class does indeed pay up to 55% to cover for the really rich who take public money and don't even pay back a fraction of it.
If you really dont want to tax the poor billionaire at least take this 210 billions and give it to little / medium company who can not make tax evasion, or delocalize production and we will see if groth come back.
I don't think the argument that the wealthy are actually paying more taxes has ever been one that wealthy French make. It sounds like the person I responded to was the first to bring in a very American argument for the topic
You know I really don't think you were. The whole "we pay more taxes" thing isn't something the wealthy French say. At least definitely not to the degree where it's repeated by others mockingly
He means more people working standard medium to low paid jobs. They pay the most in taxes overall. That kind of person is dwindling in favour of more people on benefits or getting benefit top ups. It's not completely the governments fault. It's the corporations not employing people for those kinds of jobs anymore. It's mostly outsourced to china and other countries where it costs them less to operate. The rich get richer and the poorer get poorer. Which also means less tax for the government to play with.
This is a heavily simplified explanation and has a lot more nuance to it than I can be bothered to explain.
I don't think you understand completely. There's less and less of these shitter working class jobs for people to do. Mostly due to outsourcing. So that's one of the reasons a countries tax money is going down so there's less money for public services.
Ok, cool 👍. Your statement back wasn't in agreement or acknowledgement, it was in defence of something else said to someone else, which to me, because of the lack of acknowledgement, means you also don't agree with what was said.
Haha. You said what you said and it came across differently than you thought it did. It's no big deal you can't form a coherent sentence conveying what you want it too.
The only way they fucked them was by not giving birth to enough young people . When they stopped having enough children they started borrowing from the future to live beyond their means .
Nobody can afford to have kids because the rich have to have all their shit. Hell according to these right wing bootlickers giving poor kids a free sandwich is communism
My grampa had 7 brothers and lived in the same exact one room house . The richer my family got the less kids . The richer the country the less kids . So not true whatsoever . In France as living standards improved the less kids . So you couldn't be futher from reality . The reality is that some very stupid generations of greedy people , starting with these boomers wanted to live boyond their means so they stopped having children to exploit the way the state and pensions work . All the benefits for none of the work . This is also why you blame rich people now , you want an easy way out , a button to push and all your problems are solved . You don't have one , you are in deep shit .
Partialy right from what i understood. There isn t a single problem. But a mixte of many. Big corp have ton of money but rarely spend much. When other just exploit everything ( Total, oil company that increased prices for customer when none of it oil came from iran area, annoucing billion in revenu, will gouv have to extend small help for farmers, truck company).
Macron pushed for more children will even people xho have job can t afford to have one.
I only see prices going up and up in the food shop i work, and since 1 years we get like5 / 10+ cv a month when before it was 1 every 2 month.
It’s a lot more complicated than that. Their system worked when resources were plentiful.. now that isn’t the case and so it must change. Read a little instead of regurgitating whatever you hear the morons spouting.
I didn’t hear any moron spewing shits, all I hear is for years and years, the French will burn down cities protesting whenever someone tries to raise the retirement age (basically any policy that negatively affects retirement benefits). Reddit always cheer them on every time, nobody accepts that you can’t just pull out infinite money out of the system. Every single penny paying retirees come from the young generations working, and it’s so damn clear it’s not at a sustainable level. If it’s not sustainable, yet old people still refuse to ever accept any cut into their retirement benefits (like less payments or higher retirement age), then it’s clearly old people fucking over the next gen out of their greed. It doesn’t take that many steps of reasoning to come to that conclusion, you don’t need to read comments on reddit for one (which are always on the opposite side anyway).
this applies everywhere, especially former rich nations. US has a similar spot; the 60s, 70s and 80s had it best to take advantage, now current generations only get the end part with the service bill. France same. More will follow.
The old people weren’t that old when they got the benefits. If most people got what they ask for now, we’d be the old people fucking over the youth in the future. Hard times are coming that will make us realize these days aren’t so bad.
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u/us1549 10h ago edited 7h ago
France is broke and need to cut something like 130b from it's budget annually by 2030.
If they don't, bond yields will skyrocket making their fiscal pain even more pronounced. They need to raise taxes, cut retiree benefits and raise the retirement age.
Either France does it on their own terms or the bond market will do it for them.
Their social benefits have been much too rich for too long for an economy that isn't growing. It sucks for young people but the math is the math.
France needs a president that will explain that to the French people as most are not experts in bond yields and budget deficits relative to GDP. The last few presidents have tried and the people have responded by rioting.
Great explanation of France's fiscal crisis
https://youtu.be/Uje_KSCzJJc?si=rUPmEbJjsPG-TMXu