A couple of French dudes enjoy the Indian summer in the 8e.
Summer is certainly over for French private equity as the Hollande government introduces an onerous tax framework that goes to the business like a laser guided torpedo : capital gains increase 45% to 65% (and may be considered income - if so, 75% over €1 M). The tax deductibilty on interest for company debt to be reduced to 80% from 100%. Then there is a social charge of up to 28% for every beneficiary of carried interest paid by the management company who oversees the funds. In short, the socialist demand that the country's producers, who are also often rich, either cease operations or move to London (where capital gains fall to zero) or elsewhere. France, one of the most attractive country's in the world for global foreign investment, may suddenly become the least.
I return from Paris to find Eitan, hair wet from swimming, hunched over his homework (Spanish :
"I am nearly fluent" he offers, counting to ten) and Madeleine fast asleep - she puts herself to bed at 8:30PM which makes a big difference in the morning.
Eitan: "
I thought I had turned in my chemistry homework two days late but actually I am two days early. I am so relieved." [He hums]
