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Former Gov. Jon Huntsman, (R-Idaho), on the impact of France’s tax increases and energy policies on the country’s businesses.
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The socialist dizzy and then now businesses are looking to get -- -- console that is down and out the Dow diving triple digits today on new worries about Europe.
Not just whether they're going bank -- but companies in France are actually a lot more worried about.
France reports many are looking to pack up and leave as the -- socialist through -- comes then then ramps up regulations.
And taxes low Obama revolving governor -- -- -- Johnson is not at all surprised by these developments in fact.
Are to be -- on the presidential unseen when he was running he was predicting.
All of this playing out the -- If the president gets four more years governor Huntsman is saying the same thing could happen.
Here are the governor -- is amazing how quickly companies in France are responding to other.
They're not even -- you know waiting for the ink to dry and the tax increase.
Well -- first of all it's an honor to be with him.
Let me just say the businesses have to make decisions in real business time they can't wait for government bureaucracies to make decisions.
They may go bankrupt and be put out of business so when you've got a new administration coming in.
And you've got the Socialist Party that basically has a majority within parliament.
And they start looking at 75% tax rates for those making over a million euros a year.
And 45%.
For those making.
A 150 euros a year which about 200000 US.
And they look at lowering the retirement age and they look at taking nuclear power which has been a fairly good success story in France.
And taking it from 75 to 50% of the market -- to replacing.
That that interim with with renewables which really don't pencil out too well today mathematically.
Then -- is say.
Come -- from a business standpoint this is not exactly an optimistic horizon that you're looking at you want just the opposite which would be pro growth strategies and they don't seem to be any of those -- -- You know there's always the danger is use out of again vidro target setting and whether it's at the part of the president here or.
Or those in power it in in France I read one account governor where.
The leadership was saying you know -- France who who would -- -- leave France some beautiful you're talking about all the buildings in the food I'm sure it is.
Although they put -- on everything so I'm not quite sure that that.
You know -- but but.
-- other -- we're always shocked when went on my guys that are leaving and I think the Obama administration is of the view -- -- -- whispers -- -- without it.
But but saying well.
We you know the -- these businesses complain and then and then they're gonna you know they might leave or they might just back up and up the difference here is that they already -- And that's the -- Right.
Well -- that is exactly right in it's a little bit of that analogous to the state of California when I served as governor of the state do you top.
And we cut our taxes we we created a flat tax and we've created tax reform on.
Revenue neutral basis.
And we -- our -- a whole lot more competitive we did exactly what California was unwilling to do.
And what happened the capital started flowing in from California jobs started migrating or way.
And it was a perfect example of two options to choose from and I think here in the United States.
We also have some options to choose from all we have to do is look at the Euro -- today.
And to see what got them in the mess over the last couple of decades.
And to see what we want to do for ourselves in terms of positioning ourselves for global competitiveness and job growth going forward.
But I wonder whether we're getting that message especially now when we see cities like Stockton California perhaps on the brink of bankruptcy.
We we've already seen that you know voters in San Diego and San Jose.
California had to say nothing of those in Wisconsin.
Who are saying enough is enough is enough but I'm wondering.
Whether bankruptcy might be a credible option for a lot of these we had a guest on earlier.
Who was of that opinion governor that that is maybe the only way we're gonna get around this aggregate these conferences pricing contracts though not palatable.
That I am I the only direction we have.
That would be -- horrible embarrassment I mean.
To think that we can't.
Improve or our economic conditions whether we're a corporation when we can't we don't count my today success and you have a look around everyday well every so they -- they can't they don't this -- -- -- now looks like.
A Third World country.
Well this is where leadership matters and this is where the voters have an opportunity to compare and contrast models and actually worked.
Vs those that don't.
And -- say that your only answer is to go bankrupt I mean come on.
It's about slimming down -- about becoming efficient it's about attracting capital at the end of the day where the nearest city -- -- your state whether -- the United States of America.
Your your job ahead in order to pay the bills for education transportation everything else you've got to attract capital.
Capitalistic Howard and it's gonna -- wherever procedure to be risk in the marketplace and the doesn't go to your city or go to your -- your country.
It's going to Singapore Hong -- or Switzerland or somewhere else you've got to make yourself.
Attract that capital and their models out there that we can look to that have done it successfully vs those who haven't.
Are you you positive marks with the slimming down gonna let that go governor but I I'm a little annoyed at you look at some looking at DA RT this sexiest.
Over fifty survey and you're on -- with the likes of George Clooney and you know I've come on -- -- -- wanna get to Antonio Banderas.
-- I was its when he seconds and guy.
Truth be told.
But.
-- you -- that congratulate.
GL I detected deep -- jealousy and that -- you don't have to do not -- the united is I might have.
I knew you were an old guy knew that you qualified I was surprised to find not even qualified I just cross that why a couple of years ago I -- you were well until it.
And I must somehow figured it would be not in the first year but the second -- -- congratulations on that.
Very good breaking your final appearance Jon Huntsman junior the foreign residents of Canada.
Oil supplies are governor congratulations and thank you -- they care all right he's said he's as good.
