You probably know by now that the new French President Hollande plans to raise their tax rates on the rich to as high as 75%. Didja also know that they are also going to have a wealth tax of up to 1.8% of assets that exceed a certain amount? It's a wonder Obama and the dems haven't thought of that yet. BTW, he's also going to raise the minimum wage too. The good news: Hollande is going to limit the damage to 80% of your income in any one year. Well, isn't that a relief.
Anyway, what we have here is a classic example before our very eyes of what happens when you attempt the redistribution of wealth. Don't know what excuse they'll use cuz they don't have a republican party, but I am very confident that their economy is about to crash. From what I've been reading, wealthy frenchpersons are leaving - selling out, packing up, and moving out. Last I heard the French don't tax earnings made abroad, same as every other developed country except us.
Bottom line: France is fucked. Toilet bowl time. Gotta wonder what the Germans are thinking about all this. They ain't doing that shit hot either lately, and they have to know they can't pay for everyone else's debts and deficits. Kinda reminds me of California, Illinois, New York, and some other blue states that are financially screwed with debt up to their hocks.
Anyway, what we have here is a classic example before our very eyes of what happens when you attempt the redistribution of wealth. Don't know what excuse they'll use cuz they don't have a republican party, but I am very confident that their economy is about to crash. From what I've been reading, wealthy frenchpersons are leaving - selling out, packing up, and moving out. Last I heard the French don't tax earnings made abroad, same as every other developed country except us.
Bottom line: France is fucked. Toilet bowl time. Gotta wonder what the Germans are thinking about all this. They ain't doing that shit hot either lately, and they have to know they can't pay for everyone else's debts and deficits. Kinda reminds me of California, Illinois, New York, and some other blue states that are financially screwed with debt up to their hocks.
