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Welcome to Socialism: 75 Percent Tax For Rich Passed in France

scash Wrote: Sep 28, 2012 9:11 AM
The irony is ; they complain about 'Trickle Down' economics... Yet they place their faith in the ultimate trickle down option... Government.

This is what you signed up for, Frenchmen. The French government under new socialist President Francois Hollande has approved a 75 percent tax rate for the richest in the country and guess what? It doesn't even begin to solve economic problems.

The budget, approved by France's cabinet on Friday, said that the creation of a new 75 percent tax on millionaires and higher marginal tax rates on high earners would raise some 530 million euros next year.

The new budget also hikes taxes on businesses and investments. Back in May when Hollande was elected,...