AFP: France - Sarkozy proposes companies pay a third of profits to employees - Socialism in a Conservative Suit?

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France - Sarkozy proposes companies pay a third of profits to employees - "Socialism in a Conservative Suit?"

French President Nicolas Sarkozy proposed on Wednesday that a third of company profits should go to employees, with the same amount reserved for shareholders and investment. "A system in which a third of the profits of a company would be for shareholders, a third for employees and a third for investment is a system ... that would have a certain coherence and logic," he told parliamentarians.Public concern about buying power, already a hot subject during the presidential campaign early last year, remains at the top of voters' concerns in opinion polls. Sarkozy argued that his radical proposal would help boost purchasing power, in addition to the longer working week that he intends to implement. "Saying that sharing profits has nothing to do with purchasing power, (or) saying that a revolution as profound as the one I have proposed for sharing earnings has nothing to do with purchasing power is to treat people like fools," he said.