Will France Embrace the New Royal-ism?

In the least surprising headline of the weekend, Drudge alerts us: “Socialist candidate in France unveils far-left platform…”

In a set of policy proposals ten times as ambitious as the Contract with America, Socialist presidential candidate Ségolène Royal has released a 100-point program for the future. Of special interest is her take on private enterprise in France and her attitude toward profits:

A substantial part of her speech was dedicated to social and economic issues, on which Royal took a hard-left line.

“The unfettered rein of financial profit is intolerable for the general interest,” she said. “You [French voters] told me simple truths. You told me you wanted fewer income inequalities. You told me you wanted to tax capital more than labor. We will do that reform.”

Royal said she would tax companies in relation to what share of their profits is reinvested in equipment and jobs, and what portion is paid to shareholders. She also promised to abolish a flexible work contract for small companies and hold a national conference in June on how to increase salaries.

Indeed, she seemed to have something to offer to most groups in society without saying how much the combined measures would cost…”

So it seems in France the answer to an unemployment rate of 8.5% is more socialism. I see that the current unemployment rate here in the U.S. is around 4.6%. Just imagine how successful we would be if we embraced Ségolène’s plan.