How To Make All The Rich People Leave France
Socialism is theft and if you're opposed to theft, you're opposed to socialism, even if you earn no where near 1 million euros or dollars a year. From the WSJ, France's Socialist Party candidate for President hopes to impose a 75% tax rate on incomes over 1 million euros ($1.3 million):
Mr. Hollande calls his 75% rate a matter of "patriotism," and in one sense he's right--it would take a very patriotic Frenchman to stay put and pay the levy. French footballers are said to be especially distressed by Mr. Hollande's proposal, which could be good news--for the English Premier League.When he emerged at St. Pancras station in London, Mr. Hollande was asked whether he had a message for London's financial district. His reply: "I am not dangerous, but we need more regulation everywhere."
...To be specific, Mr. Hollande has consistently hit out against the "obscenely rich" and declared himself the "enemy" of the "world of finance." In December he announced he would renegotiate the pending treaty on fiscal discipline to give France more flexibility in funding its welfare state.
Oh, how appropriate. Last night I finished reading "Red Scarf Girl" (Ji-Li Jiang), which is a memoir of growing up during China's Cultural Revolution. What struck me as I started the book was the demonization of anyone seen as "wealthy". It was scary to read a section that described the children renaming the stores in their neighborhood to fit Mao's vision. Anything or anyone that strove to be excellent was evil. It was wrong to want to anything beyond adequate. She describes wanting to sew needless patches on her clothing to look poor!
Is this the kind of world that Mr. Hollande admires?
cornerdemon at March 3, 2012 2:35 PM
This is why there are no great French rock bands.
KateC at March 3, 2012 2:55 PM
75%? Why stop there? If the purpose is to punish productive people, which by M. Hollande's statements seems to be the idea, then why not 100% Hell, why not 150%? That'll show them.
(Not that it matters... they'll all be living with sharia finance laws soon enough.)
Cousin Dave at March 3, 2012 8:39 PM
What's the current rate for the filthy rich?
NicoleK at March 3, 2012 11:10 PM
"What's the current rate for the filthy rich?"
Same as it ever was.
They set up the institutions which produce things and allow governments to have budgets, from which votes are bought by paying the idle to do nothing. Social systems are then exploited by government officials, who have some powers but little pay, to control the public to make it harder on wage earners, and conceal the plain fact that an hourly wage, however high, binds you to the number of hours at work, thus limiting you.
Is that clear now?
Radwaste at March 4, 2012 8:54 AM
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