In response to:

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

StillStandingHisGround Wrote: Sep 28, 2012 10:43 AM
One of the big reasons that so many of the European governments are in such dire financial shape - and this is ESPECIALLY true in countries like Italy and Greece - is that because of their high taxes, much economic activity has gone underground to evade taxes. I understand that in many parts of Europe, tradesmen - plumbers, electricians, auto mechanics, etc. - and others will NOT do a job unless they are paid in cash on the barrelhead, so that there is no paper trail for the government to be able to tax that income. I read earlier this year that a couple of Greek government employees went to a tradesman posing as potential customers and were SHOCKED to discover that he would only work if he was paid in cash. Where have THEY been?
StillStandingHisGround Wrote: Sep 28, 2012 10:45 AM
I've heard that fully 40% of the entire Italian economy is underground.

The Europeans are world-class hypocrites: they vote draconian taxes upon themselves, then do all they can to avoid actually having to PAY those taxes.
traitorbill Wrote: Sep 28, 2012 11:00 AM
How many times must they relearn the law of unintended consequences?
Dot2Dasher Wrote: Sep 28, 2012 11:09 AM
Buck O Wrote: Sep 28, 2012 11:26 AM

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,...