Sunday, September 30, 2012

The Huffington Post, in a story by Daniel Flynn and Leigh Thomas, reports that France will tax the super-rich at 75%


Well, in France at least, the fantasies of the old "People's Party" seem to be coming home to roost.

The Huffington Post, in a story by Daniel Flynn and Leigh Thomas, reports that France is imposing a 75% tax on the super-rich “in order to stay in the center of the Euro zone”.

I presume that this is an income tax, not an expropriation of accumulated wealth.  But I’m not sure.

Naturally, there is fear that the “pinko” tax will drive a lot of businessmen from France and backfire on the French economy.

Could a measure like this work for Spain, Italy and Portugal -- and Greece?  Is this the beginning of Eruope's "purification" -- or the end of it? 

The link is here.



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