Just ask France – Bad news: France in $14b euro hole after overestimating the haul from that swell 75% millionaire tax « Hot Air.
French President Francois Hollande has raised income tax, VAT and corporation tax since he was elected two years ago.
The Court of Auditors said receipts from all three taxes amounted to an extra 16bn euros in 2013.
That was a little more than half the government’s forecast of 30bn euros of extra tax income.
Yea, I’d call that bad news. Time to come up with a new strategy and a new President.
