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January 22, 2017 | French First Round Socialist Primary Winner Proposes Tax on Robots, Universal Income, Right of Foreigners to Vote

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

France24 reports Benoît Hamon and Manuel Valls take top spots in first round of left-wing primary in a field of seven candidates.

Let’s take a look at other reports, then we will look at Hamon’s amazing platform.

Bloomberg notes Valls, Hamon Qualify for French Socialist Primary Run-Off.

In the first round of voting Sunday night, Hamon was first with 35.2 percent with Valls on 31.6 percent, with about one-third of voting stations reporting, the primary authority said. Former Industry Minister Arnaud Montebourg, who was third with 18.7 percent, endorsed Hamon saying that the primary shows that Socialist voters want more leftist policies.

The voters “have massively and seriously condemned” the government’s policies, Montebourg said. They “want the left to return to the path of the left.”

hamon

Benoît Hamon’s Platform

Benoît Hamon is a 49-year-old former education minister. Here is his platform.

  1. Universal basic income.
  2. Tax on robots.
  3. Progressive taxation of wealth.
  4. Reduction of tax loopholes.
  5. 32-hour working week.
  6. Legalization of marijuana.
  7. National conference on “environmental democracy”.
  8. 50% renewable energy by 2025.
  9. Differentiated VAT for the “most virtuous products”.
  10. Ban on pesticides.
  11. Better repayments for dental care.
  12. A “Sixth Republic”.
  13. Transformation of the Senate into “college of territories”.
  14. The right of foreigners to vote in local elections.
  15. “Humanitarian visa”  and redo of France a land of asylum.
  16. Consideration of the white vote. If the white vote is a majority vote, the election must be postponed.
  17. Media antitrust law.
  18. Labor law repeal to provide additional protection to employees.
  19. Help facilitate the takeover of SCOP companies by employees.
  20. Recognize burn-out as an occupational disease.

That reads like it came from The Onion. However, it’s translated from Benoît Hamon, favorite of the primary: his very left program.

According to the Financial Times, “Mr Hamon’s proposals have been criticized as unrealistic and costly by rivals including Arnaud Montebourg”.

Now, Montebourg backs Hamon because voters “want the left to return to the path of the left.”

Amazing Twitter Performance

In a field of seven candidates, that platform got Hamon 35% of the vote. Amazing.

How did he get there? The new-fashioned way. Hamon has a huge following on Twitter.

Looking Ahead

Don’t rule out le Pen.

Should Hamon square off against Marine le Pen, I believe le Pen would win. Le Pen might also win in the widely-expected final match-up against François Fillon, the Republican winner and former Prime Minister of France.

Recent political events are such that anything could happen.

Mike “Mish” Shedlock

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January 22nd, 2017

Posted In: Mish Talk

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