Francois Hollande, the Socialist & Obama’s Twin, Wins France


You know what is really funny – funny ironic – not funny haha? Hollande, the new French socialist President, has the same platform as Obama, but we are not allowed to call Obama a socialist.

The lamestream media is ignoring the similarities between the two men. Hollande is France’s third socialist president and Obama is our first.

Francois Hollande wants to rollback the Merkozy austerity deal between Sarkozy and Merkel, increase spending, add government stimulus, tax the rich by bringing the highest tax rate to 75% (that doesn’t include all their other taxes), keep pushing entitlements and government jobs, pumping up the green agenda, and he will probably cut the military.

Francois likes to demonize the 1% also.

They are already beyond the pale in France. A friend of mine just told me that if you have four children on welfare in France, they give you a car. If people don’t think that is ridiculous, then they are hopeless.

Some analysts believe Francois will focus on growth issues, not merely austerity measures. That has worked real well in the United States so of course they would want to try it too (irony here).

Solyndra could make its comeback in France along with the Volt. Oh, I forgot, China has dibs on the Volt. Francois should look at the fine job we do with the post office and model that right out of the gate.

I was pleased to see that at least Forbes had an article about the striking similarities between Hollande’s and Obama’s socialist agendas. Can I call Obama a socialist now?

A Forbes article by Paul Roderick Gregory entitled, “French Socialists Test Ride Obama Platform” already does my work for me so I am posting the salient comparisons between the two socialists from the article –

  1. Sacrificing debt reduction in favor of stimulus to promote economic recovery.
  2. Dealing with deficits through tax increases rather than spending cuts. Both believe the “rich” are under-taxed. Hollande’s tax increases on the rich are higher than Obama’s. Hollande wants a 75 percent rate on those earning over 1 million Euros (about $1.3 million) and 45 percent on those earning over 150,000 Euros ($200,000). Notably, both define the “rich” at similar levels of income ($200,000 -$250,000). Obama might like to “soak the rich” more but knows that Hollande-like rates cannot fly politically in the United States.
  3. Eliminating lower tax rates on investment income like capital gains and dividends. Both view lower tax rates for investment and risk taking, not as pro-growth measures, but as allowing the rich to escape paying their “fair share.”
  4. Hiring more public workers. Hollande calls for hiring 60,000 more educators, one thousand more police every year, and creating 150,000 state-aided jobs. Obama’s campaign warns against cuts in public service jobs, forced by Republican cutting-to-the-bone budgets.
  5. Protecting the welfare state. Hollande proposes to keep the French retirement age at sixty and otherwise make no changes in France’s generous entitlement programs. Obama opposes Republican proposals to rationalize Medicare by turning it into insurance grants. Both fail to explain how they plan to pay for current entitlements other than to suggest taxing the rich.
  6. Creating a public infrastructure bank to finance new infrastructure projects from state funds. They both would like to use infrastructure spending as a politically-saleable stimulus program, irrespective of the budget deficits it causes.
  7. Fighting discrimination on the basis of sexual orientation, gender, or race. In France’s case, the race to be protected is Muslim minorities, who are French citizens or legal residents. In the US, it is Hispanics, who have entered the country illegally.
  8. Cutting taxes on small businesses and provide preferences for businesses that return jobs to the home country. For both, small businesses are good, big businesses are bad.
  9. Reducing the use of out-of-favor sources of energy. In France it is nuclear energy; in the US it is coal or, more broadly, carbon-based energy.
  10. Campaigning against big finance. In the U.S., it is Wall Street. In France, it is big banks.
  11. Cutting executive pay of the greedy captains of industry and finance. Hollande proposes to limit executive pay to twenty times the average wage, which would equal about $400,000 per year. Hollande’s figure is close to the $500,000 executive pay cap that Obama proposed for companies receiving federal assistance.
CNN has a deceitful story out today claiming that there is not much difference between the socialist Hollande and the right-leaning Sarkozy. There is a world of difference. Hopefully Hollande will be as pragmatic as Clinton though I doubt it. A lot will depend on who makes up their parliament when the votes come in.

Check out the Forbes article