French Socialist Tax Czar Who Wanted to Implement 75% Wealth Tax had Secret Swiss Account

Socialists are people who want to tax a second party for the good of a third party while the first party keeps its Euros in a Swiss bank account.

President Hollande had just regained some support with the successful expedition into Mali, but is now scrambling for his political life again after the latest revelations about his budget minister.

As budget minister, Jerome Cahuzac advocated an extended version of Hollande’s 75% tax on the rich. The tax was shot down by the courts. But Cahuzac had his own private Swiss bank account with around a million bucks in it.

Jérôme Cahuzac, who resigned as budget minister last month over tax fraud allegations, had denied “ever” possessing a foreign bank account before parliament, describing such allegations as “crazy” and “slanderous”.

But the Socialist government’s former “Monsieur Propre” (Mr Clean) on Tuesday admitted to having a “bank account abroad” for the past two decades.

Mr Cahuzac had dismissed a report in December by French investigative news website Mediapart that he held an undisclosed account at the Swiss bank UBS until the start of 2010.

Mediapart alleged that Mr Cahuzac then closed the account and shifted the undisclosed sums to “another tax haven in Asia”.

It had released a recording of a telephone call in which a male voice it claimed was Mr Cahuzac can be heard saying: “What bothers me is that I’ve still got this account open at UBS. UBS is not necessarily the most hidden of banks.”

Following his confession, he was formally charged with “laundering the proceeds of tax fraud”, which carries a maximum prison term of five years.

This shouldn’t have come as too much of a surprise. Cahuzac with using illegal cleaning workers back in 2007.

President Hollande is down to 27% support and has been on television pleading for a third chance from the French people. It’s an embarrassing appearance for an embarrassing little man.

Le Monde, the left-of-centre newspaper, said in an editorial: “The Cahuzac scandal has become, in an instant, the François Hollande affair. Over the past six months, the loss of credit of the head of state has already been profound and handicapped his actions. It risks becoming unfathomable and paralysing. In the eyes of the French, either he was naive or incompetent, or he, more or less, covered up the lie. In either case, the failing is deep.”

Jean-Marc Ayrault, prime minister, told members of the ruling socialist party the government was “stunned, but not knocked out” by the affair.

At this rate, the knock out won’t take too long.

  • AdinaK

    Socialists are not about about equality (even though they feign deep devotion to the lower & middle classes), but they are about power and control. It is a totalitarian ideology, every bit as much as fascism and Islamism.
    Therefore, this French czar is no different than the Radical-in-Chief and his surrogates, as they engorge themselves, yet bleed the citizen's dry.

    Adina Kutnicki, Israel

  • Ar'nun

    The French have always wanted to be like the US. In the US they tax Middle Class people to this effect. Met with my accountant to file this years taxes. I am making $10k more this year than last year. My paycheck is about $500 less every two weeks. At $75K a year I bring home $38K a year. Almost half and I am considered Middle Class. Oh the Obama sycophants will claim that's not all in taxes. And technically they are right. The biggest deduction from my pay is my family's Health Insurance, which in Massachusetts thanks to Romney(D) I am forced to buy insurance. I have no choice. So in my opinion this too is a tax.

  • Toni_Pereira

    The next swiss citizen, i suppose. At least, he don't have to travel all the way to Russia.He just have to walk through the alps…

  • Blair Franconia, NH


  • celador2

    Hollande is on thin ice over gay marriage also. Drip, drip, drip it looks. But the real impact will be in parliament seats and local elections. Hollande is well to do and not a worker in need of money for daily expenses. He had a comeback a few years ago and here he is waiting to ride out the anger of disgraced budget and tax minister.

  • michelle Kilborn

    I 'm French , and I remember very well Cahuzac swearing that he had any acount in switzerland!! what liard ! by whom are we governed? what sort of guys have the power? it's a shame for my country and very sad for the French poeple

    • kasandra

      Hmmmmmmmmmm. Governed by a bunch of lying hypocrites. Where does that sound like?

    • Toni_Pereira

      "I remember very well Cahuzac swearing that he had any acount in switzerland!! "

      Delusions of honesty, mon ami, delusions of honesty…

  • msbets

    Just have one word…………………LMAO

  • Questions

    Gerard Depardieu was a man ahead of his time.

  • WilliamJamesWard

    Liars, cheats and thieves in the Socialist governent, who would have guessed or ever
    believed such dishonesty could exist in the Leftist government, oh how they draw to
    the taxing powers like odour piles on dung…………….crappy looking guy…………William

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