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July 15, 2009 at 7:21 PM #431869July 15, 2009 at 9:07 PM #431177
Allan from Fallbrook
Participant[quote=Veritas]Financial crisis
“Louis XVI ascended to the throne amidst a financial crisis; the nation was nearing bankruptcy and outlays outpaced income.[5] This was because of France’s involvement in the Seven Years War and its participation in the American Revolution.[6] In May 1776, finance minister Turgot was dismissed, after he lost favour. The next year, Jacques Necker, a foreigner, was appointed Director-General of Finance. He was not made a minister because he was a Protestant, and could not become a naturalized French citizen.[7] Necker realized that the country’s tax system subjected some to an unfair burden;[7] numerous exemptions existed for the nobility and clergy.[8] He argued that the country could not be taxed higher, that the nobles and clergy should not be exempt from taxes, and proposed that borrowing would solve the country’s fiscal problems. Necker published a report to support this claim that underestimated the deficit by roughly 36,000 livres; and proposed restricting the spending power of the parlements. This was not received well by King’s ministers and Necker, hoping to solidify his position, argued to be accepted as a minister. The King refused, Necker was fired, and Charles Alexandre de Calonne was appointed to the Directorship.[7]”
“Calonne initially spent liberally, but he quickly realized the critical financial situation and put forth a new tax code.[9] The proposal included a consistent land tax, which would include taxation of the nobility and clergy, and the meeting of the Estates was planned for May 1789; a signal that the Bourbon monarchy was no longer absolute.”[/quote]
Veritas: And we all know how THAT particular story ended!
Robespierre, Madam Guillotine and The Terror.
It is interesting to note that, following Napoleon’s ascent to power, he immediately initiated hostilities with those countries or provinces (in the case of Italy) most able to fill France’s coffers.
It’s always about the jingle.
July 15, 2009 at 9:07 PM #431391Participant[quote=Veritas]Financial crisis
“Louis XVI ascended to the throne amidst a financial crisis; the nation was nearing bankruptcy and outlays outpaced income.[5] This was because of France’s involvement in the Seven Years War and its participation in the American Revolution.[6] In May 1776, finance minister Turgot was dismissed, after he lost favour. The next year, Jacques Necker, a foreigner, was appointed Director-General of Finance. He was not made a minister because he was a Protestant, and could not become a naturalized French citizen.[7] Necker realized that the country’s tax system subjected some to an unfair burden;[7] numerous exemptions existed for the nobility and clergy.[8] He argued that the country could not be taxed higher, that the nobles and clergy should not be exempt from taxes, and proposed that borrowing would solve the country’s fiscal problems. Necker published a report to support this claim that underestimated the deficit by roughly 36,000 livres; and proposed restricting the spending power of the parlements. This was not received well by King’s ministers and Necker, hoping to solidify his position, argued to be accepted as a minister. The King refused, Necker was fired, and Charles Alexandre de Calonne was appointed to the Directorship.[7]”
“Calonne initially spent liberally, but he quickly realized the critical financial situation and put forth a new tax code.[9] The proposal included a consistent land tax, which would include taxation of the nobility and clergy, and the meeting of the Estates was planned for May 1789; a signal that the Bourbon monarchy was no longer absolute.”[/quote]
Veritas: And we all know how THAT particular story ended!
Robespierre, Madam Guillotine and The Terror.
It is interesting to note that, following Napoleon’s ascent to power, he immediately initiated hostilities with those countries or provinces (in the case of Italy) most able to fill France’s coffers.
It’s always about the jingle.
July 15, 2009 at 9:07 PM #431681Participant[quote=Veritas]Financial crisis
“Louis XVI ascended to the throne amidst a financial crisis; the nation was nearing bankruptcy and outlays outpaced income.[5] This was because of France’s involvement in the Seven Years War and its participation in the American Revolution.[6] In May 1776, finance minister Turgot was dismissed, after he lost favour. The next year, Jacques Necker, a foreigner, was appointed Director-General of Finance. He was not made a minister because he was a Protestant, and could not become a naturalized French citizen.[7] Necker realized that the country’s tax system subjected some to an unfair burden;[7] numerous exemptions existed for the nobility and clergy.[8] He argued that the country could not be taxed higher, that the nobles and clergy should not be exempt from taxes, and proposed that borrowing would solve the country’s fiscal problems. Necker published a report to support this claim that underestimated the deficit by roughly 36,000 livres; and proposed restricting the spending power of the parlements. This was not received well by King’s ministers and Necker, hoping to solidify his position, argued to be accepted as a minister. The King refused, Necker was fired, and Charles Alexandre de Calonne was appointed to the Directorship.[7]”
“Calonne initially spent liberally, but he quickly realized the critical financial situation and put forth a new tax code.[9] The proposal included a consistent land tax, which would include taxation of the nobility and clergy, and the meeting of the Estates was planned for May 1789; a signal that the Bourbon monarchy was no longer absolute.”[/quote]
Veritas: And we all know how THAT particular story ended!
Robespierre, Madam Guillotine and The Terror.
It is interesting to note that, following Napoleon’s ascent to power, he immediately initiated hostilities with those countries or provinces (in the case of Italy) most able to fill France’s coffers.
It’s always about the jingle.
July 15, 2009 at 9:07 PM #431751Participant[quote=Veritas]Financial crisis
“Louis XVI ascended to the throne amidst a financial crisis; the nation was nearing bankruptcy and outlays outpaced income.[5] This was because of France’s involvement in the Seven Years War and its participation in the American Revolution.[6] In May 1776, finance minister Turgot was dismissed, after he lost favour. The next year, Jacques Necker, a foreigner, was appointed Director-General of Finance. He was not made a minister because he was a Protestant, and could not become a naturalized French citizen.[7] Necker realized that the country’s tax system subjected some to an unfair burden;[7] numerous exemptions existed for the nobility and clergy.[8] He argued that the country could not be taxed higher, that the nobles and clergy should not be exempt from taxes, and proposed that borrowing would solve the country’s fiscal problems. Necker published a report to support this claim that underestimated the deficit by roughly 36,000 livres; and proposed restricting the spending power of the parlements. This was not received well by King’s ministers and Necker, hoping to solidify his position, argued to be accepted as a minister. The King refused, Necker was fired, and Charles Alexandre de Calonne was appointed to the Directorship.[7]”
“Calonne initially spent liberally, but he quickly realized the critical financial situation and put forth a new tax code.[9] The proposal included a consistent land tax, which would include taxation of the nobility and clergy, and the meeting of the Estates was planned for May 1789; a signal that the Bourbon monarchy was no longer absolute.”[/quote]
Veritas: And we all know how THAT particular story ended!
Robespierre, Madam Guillotine and The Terror.
It is interesting to note that, following Napoleon’s ascent to power, he immediately initiated hostilities with those countries or provinces (in the case of Italy) most able to fill France’s coffers.
It’s always about the jingle.
July 15, 2009 at 9:07 PM #431913Participant[quote=Veritas]Financial crisis
“Louis XVI ascended to the throne amidst a financial crisis; the nation was nearing bankruptcy and outlays outpaced income.[5] This was because of France’s involvement in the Seven Years War and its participation in the American Revolution.[6] In May 1776, finance minister Turgot was dismissed, after he lost favour. The next year, Jacques Necker, a foreigner, was appointed Director-General of Finance. He was not made a minister because he was a Protestant, and could not become a naturalized French citizen.[7] Necker realized that the country’s tax system subjected some to an unfair burden;[7] numerous exemptions existed for the nobility and clergy.[8] He argued that the country could not be taxed higher, that the nobles and clergy should not be exempt from taxes, and proposed that borrowing would solve the country’s fiscal problems. Necker published a report to support this claim that underestimated the deficit by roughly 36,000 livres; and proposed restricting the spending power of the parlements. This was not received well by King’s ministers and Necker, hoping to solidify his position, argued to be accepted as a minister. The King refused, Necker was fired, and Charles Alexandre de Calonne was appointed to the Directorship.[7]”
“Calonne initially spent liberally, but he quickly realized the critical financial situation and put forth a new tax code.[9] The proposal included a consistent land tax, which would include taxation of the nobility and clergy, and the meeting of the Estates was planned for May 1789; a signal that the Bourbon monarchy was no longer absolute.”[/quote]
Veritas: And we all know how THAT particular story ended!
Robespierre, Madam Guillotine and The Terror.
It is interesting to note that, following Napoleon’s ascent to power, he immediately initiated hostilities with those countries or provinces (in the case of Italy) most able to fill France’s coffers.
It’s always about the jingle.
July 15, 2009 at 9:09 PM #431187Veritas
ParticipantI knew you would appreciate the historical similarities. Isn’t Iraq a 7 year war. Taxation never works. You cannot tax your way into prosperity.
July 15, 2009 at 9:09 PM #431401ParticipantI knew you would appreciate the historical similarities. Isn’t Iraq a 7 year war. Taxation never works. You cannot tax your way into prosperity.
July 15, 2009 at 9:09 PM #431690ParticipantI knew you would appreciate the historical similarities. Isn’t Iraq a 7 year war. Taxation never works. You cannot tax your way into prosperity.
July 15, 2009 at 9:09 PM #431761ParticipantI knew you would appreciate the historical similarities. Isn’t Iraq a 7 year war. Taxation never works. You cannot tax your way into prosperity.
July 15, 2009 at 9:09 PM #431922ParticipantI knew you would appreciate the historical similarities. Isn’t Iraq a 7 year war. Taxation never works. You cannot tax your way into prosperity.
July 15, 2009 at 9:58 PM #431192patb
ParticipantI suppose shou’dnt you be more concerned about the
Rewards of Failure we have made to Goldman Sachs?July 15, 2009 at 9:58 PM #431405ParticipantI suppose shou’dnt you be more concerned about the
Rewards of Failure we have made to Goldman Sachs?July 15, 2009 at 9:58 PM #431695ParticipantI suppose shou’dnt you be more concerned about the
Rewards of Failure we have made to Goldman Sachs?July 15, 2009 at 9:58 PM #431766ParticipantI suppose shou’dnt you be more concerned about the
Rewards of Failure we have made to Goldman Sachs? -
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