L'Exodus To Come
France's Idiot-In-Chief proposes raising their already Eiffel Tower-high taxes to 75 percent, and rich French citizens are looking to bail like rats off a sinking ship. Liz Alderman writes for The New York Times:

Mr. Hollande was elected in May on a wave of resentment against "les riches" -- company executives, bankers, sports stars and celebrities whose paychecks tend to be seen as scandalous in a country where the growing divide between rich and poor touches a cultural nerve whose roots predate Robespierre.

Half the nation's households earn less than 19,000 euros a year; only about 10 percent of households earn more than 60,000 euros annually, according to the French statistics agency, Insee.

There is currently no plan to change the tax rates for most people, which is 14 percent for the poorest and 30 percent for the next rung. For higher earners -- people with incomes above 70,830 euros a year -- the tax rate will soon rise to 44 percent, up from 41, in a change that was already set before Mr. Hollande's election.

A tax accountant in Paris with many wealthy clients, Steve Horton, has calculated that a two-parent, two-child household with taxable annual income of a bit more than 2.22 million euros ($2.75 million) now has after-tax take-home pay of about 1.1 million euros ($1.35 million) under France's current tax system.

That household would end up with 780,000 euros, or $966,000, if the Hollande tax took effect, Mr. Horton says. (The same family, with comparable income in Manhattan, would take home $1.55 million, the dollar equivalent of 1.25 million euros, after paying federal, state and city income taxes, he calculated.)

Taxes are high in France for a reason: they pay for one of Europe's most generous social welfare systems and a large government. As Mr. Hollande has described it, the tax plan is about "justice," and "sending out a signal, a message of social cohesion."

..."People have an acceptable amount of taxes they are willing to pay," said Mr. Horton, the accountant, "and if it goes above that, they will move somewhere that's more reasonable."

And then who pays for everybody left?

Oops.