Most Americans don’t care all that much about soccer, especially international soccer, but by not paying attention we may miss one of the most important battles in the war against socialism.
Across the nation of France, professional French soccer players will go on strike for the first time in over forty years! What has the professional athletes of the world’s most popular sport so upset that they’d risk their jobs to protest? Taxes. Socialist France has one of the highest income tax rates in the world (at 75% on anyone who makes over $1 Million Euro), and French soccer is a booming capitalist industry. Many French football clubs make a lot of money, and so they spend a lot to bring in premier talent.
However, the nation’s new progressive tax codes put the sport in France in a precarious position. How can they make money and still pay their taxes? For many of the players the answer is … they can’t.
Consider the highest paid soccer players in the world, if they make $10 Million in the UK they take home roughly $5.5M, but the same salary in France would mean a take home of only $2.5M. That puts teams in France at a huge disadvantage to British teams, but even more so in other countries with lower tax rates.
The unintended consequence could be disastrous for French soccer. The best players will stay away knowing that they cannot earn as much money there, and the best clubs will no longer be able to compete on the world’s stage.
The President of the Union (UCPF) which handles all of the professional soccer clubs, Jean-Pierre Louvel, said it well, “We are involved in a historic protest and have a real determination to save football by having a weekend without games at the end of November.”
Sadly, this same story is playing out in the business world. Why would the brightest minds and best entrepreneurs waste their talent and their hard work in France when they can earn so much more financially in other countries? They won’t. The best and brightest will continue to flee France for better paydays in countries like the USA, the UK, Belgium, Germany and so on.
This is a lesson to be learned, not a story to be pitied. France is teaching the rest of the world what happens when you willingly toss aside the free market in favor of socialism. You destroy your economic future.
The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by EagleRising.com